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Thanks Timosman
4 Jun 2019 - The Blockchain Commission for Sustainable Development is hosting its second annual Blockchain for Impact Global Summit at the United Nations.
The host, S. Fernandez de Cordova, co-founder of the UN Commission, is also a member of kinesis advisory board. Kinesis Ceo talks at 30 and 50
http://webtv.un.org/watch/part-2-blo...7223001/?term=
looks like a banker created scam to control.
Ponzi schemes are supposedly illegal.
Here is a comprehensive list of points to check out while pondering about buying a gold-backed stablecoin
Due Diligence on Gold-Backed Stablecoins
1. Can the cryptocurrency be converted into physical gold on demand? How easy is the process?
2. Does the company disclose how it stores the gold?
3. Who is storing the gold that backs the cryptocurrency? Is that company trustworthy?
4. Is the gold insured?
5. Does the company have a well-known and reputable auditor? If the company is not audited, then it can easily issue more tokens than gold, thereby creating fractional reserves.
6. What happens if the company goes bankrupt? Is it a limited liability company that could leave investors empty-handed?
7. What blockchain are the gold tokens built on? Is that blockchain secure?
8. Do you know how to store the private key to the wallet that controls the gold tokens? What happens if you lose the key? What happens if the key is stolen?
9. Gold-backed cryptocurrencies are similar to ETFs, which may make them subject to securities laws in Europe and the US. Is the company selling the cryptocurrency regulated? Does it store the gold in a country that has approved their token?
10. Where can the gold-backed token be traded? Gold ETFs are traded on exchanges, but there are currently no cryptocurrency exchanges that are licensed to trade tokenized ETFs.
11. How much liquidity does the gold-backed cryptocurrency have? Can you really close a position in case of a liquidity trap? The largest gold-backed cryptocurrency, Digix Gold Token, has a small daily trading volume of USD 243,000 over the past year, and USD 27,000 over the past month.
12. What is the total expense ratio for the tokenized shares of the gold fund? The most famous gold ETF, SPDR Gold Shares, has a management expense ratio (total fund costs / total fund assets) of only 0.40%.
13. What is the business model of the coin? How do the people who created the coin make money? If there is not a clear way that they are profiting, then be suspicious of indirect costs or high risk.
https://ingoldwetrust.report/wp-cont...on-english.pdf
whenever a currency is pegged to another asset, it will be problematic for many reasons.
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Last edited by Paul799; 12-29-2020 at 05:15 PM.
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Last edited by Paul799; 12-29-2020 at 05:15 PM.
Gold and silber becoming money again,
the revival of the Gold Standard starting among the unbanked and the underbanked population.
What a surprise
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Last edited by Paul799; 12-29-2020 at 05:16 PM.
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Last edited by Paul799; 12-29-2020 at 05:16 PM.
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Last edited by Paul799; 12-29-2020 at 05:16 PM.
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Last edited by Paul799; 12-29-2020 at 05:16 PM.
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