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Author Topic: Building P2P Gold bullion ?  (Read 41 times)
pqjj69
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February 10, 2018, 10:25:34 PM
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Hello,
 As my business background as a bullion dealer, I am looking for an opportunity to improve this area.

As I am writing, I am doing a master degree in law, specialized in Bitcoin and Blockchain. So I have no experience in coding programme, but interested in this area.

My intention is to digitize bullion and provide P2P market. Have you had any thought to make it successful?


Thank you very much for your time
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yuraayura
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February 10, 2018, 11:27:02 PM
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Im Interested Smiley
OPEXDECAPEX
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February 11, 2018, 03:53:01 AM
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you may want to look at hellogold.  They are doing the exactly that.
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February 11, 2018, 05:26:29 PM
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The problem with the approach a lot of companies are taking in this field - just backing a token with gold - is that the upside is limited by the value of gold and you have to put a fairly huge amount of trust in the people holding the gold. The particular problem with trust in this scenario is that the countries where you'd want your gold held are probably not the best ones legally for this type of project, other than maybe Switzerland. For example hold the gold in the US and you have to worry about the SEC, on the other hand hold it in Singapore where the laws might be more friendly but you have less legal recourse if the gold mysteriously disappears.

There are probably some really cool things you can do with precious metals and crypto, but the common approach so far doesn't seem particularly appealing.
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