Perth Mint, Australia’s largest gold refiner has planned for developing a cryptocurrency. If this plan is successful it will join in the list of virtual currencies where investors will invest their money.
In an interview, Chief executive of Perth Mint said that :
I think as the world moves through times of increasing uncertainty, you’re seeing people look for alternate offerings, And you’re seeing this massive flow of funds into the likes of Bitcoin at the moment because people are looking for something outside of the traditional investments.
CE of Perth Mint also said:
With a crypto-gold or a crypto-precious metals offering, what you will see is that gold is actually backing it, So it will have all the benefits of something that is on a distributed ledger that settles very, very quickly, that is easy to trade, but is actually backed by precious metals, so there is actually something behind it, something backing it.