Will Gold-Backed Cryptocurrencies Outperform Bitcoin, Ethereum and Litecoin?

Friends, a token or coin is issued that represents a value of gold (for example 1 gram of gold equals 1 coin). The gram of gold is stored by a trusted custodian (preferably third party), and can be traded with other coin holders. Some countries starting with Kyrgyzstan in central Asia plan to issue their own national cryptocurrencies backed by gold. If the cryptocurrency becomes popular then the price of the coin can potentially increase in value, greater than the value of gold. Much more mainstream is the UK’s Royal Mint, the government institution responsible for producing all the physical money the country has for circulation, which has announced the launch of its own gold-backed cryptocurrency. It is a Blockchain-based coin called Royal Mint Gold (RMG), is a digital representation of gold. Thus, the key question for investors and researchers alike is simply this: Will gold-backed currencies outperform other cryptocurrencies like Bitcoin, Ethereum, Litecoin, etc.? Send us your comments. Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)