Stelian Balta, CEO and co-founder of DinarDirham, explained to CoinTelegraph why gold and Blockchain should work together.
Balta says:
“Gold is not practical to deal with in today’s global markets, because it’s really cumbersome. Using blockchain, major problems associated with trading and storing gold are being fixed. Blockchain enables transactions to be highly secure, whilst dealing costs virtually disappear.”
Ismail Malik, CEO at Blockchain Lab, agrees that gold-asset management on-the-blockchain holds great potential in reducing friction and enabling trusted transfer of digital gold tokens, transactions and settlements. He believes that Blockchain as a public distributed ledger technology allows for immutability and transparent accounting of all transactions as a forgery-proof record of transactions is stored on thousands of nodes across the world so that it is practically impossible to manipulate or more importantly fraudulently change ownership records.
http://cointelegraph.com/news/bitcoin-and-ethereum-backed-by-gold-industrys-game-changer
