It really doesn’t. I gotta stay strong on this opinion. If it has a item that backs it and must be stored in a Government owned vault or big company’s vault that the government had power over its worthless. I support none of these items. I’ll speculate abs trade but I don’t believe any will be around in day 20 years/. Governments are going full fascist in most of the world. Owning a stable coin who’s assets are in a nation almost any in the west or east are not safe. Bitcoin world because u own ur keys. A gold backed crypto who’s gold the government can take is pointless.
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Stablecoins under governmental control is a mistake. It defeats the purpose of decentralized cryptocurrency. For that, just wait for the CBDC to come online. If control over stablecoins has to be centralized, we can find non-governmental ways of doing that. This is where trial-and-error enter the picture.
There are private companies around the world whose business it is to store the gold owned by their customers. Typical locations include Switzerland and Singapore. Perhaps one of these companies can release a cryptocurrency backed by the gold in their vaults. Of necessity, quantities would be limited, and most likely offered as a service to their customers.
Swiss gold was left untouched by both Allied and Axis powers during World War II thanks to Switzerland's historical stance on maintaining neutrality. Sadly, this is going out the window, and for what? Should there be World War 3, Swiss gold will be up for grabs.
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I agree, but they all are under government control if they have third party risk ( such as bank accounts in dollars or a commodity) governments are as corrupt as ever. They will go after anything that claims to be dollar backed whenever they wanna or a third party commodity.
Yup ur spot on here “ Swiss gold was left untouched by both Allied and Axis powers during World War II thanks to Switzerland's historical stance on maintaining neutrality. Sadly, this is going out the window, and for what? Should there be World War 3, Swiss gold will be up for grabs.“
Swiss already no longer neutral in regarding NATO & Russia. There is no neutrality unless u hand a item with no third party risk.