If you’re referring to what China came up with, I’d think twice… It doesn’t even come close to Electronic Gold… U.S. Electronic Gold will be 100% backed be an equal Face Value amount of “Circulating” U.S. Gold Coinage…
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That’s exactly how it works with our local app here, like Treasury. Every digital gold we buy there is 100% backed by real physical gold from a major company named Antam. We can even withdraw the real physical bars anytime we want. I totally agree that the physical backing is everything