An idea to tokenize or track US gold reserves to make their movements transparent on a blockchain won’t work in the same trustless way as Bitcoin does, but doing so could help the cryptocurrency, says Greg Cipolaro, global head of research at New York Digital Investment Group (NYDIG).
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Tokenized US gold could ultimately benefit Bitcoin: NYDIG
“Here’s the thing about blockchains. They’re not very smart,” Cipolaro said. “They’re limited in the information they convey. For example, Bitcoin has no idea what the price of Bitcoin is or even the current time.”
