So, get this, they’re talking about putting U.S. gold reserves on the blockchain. Like Fort Knox gold.
Tokenized, they call it. Turns the physical gold into digital tokens. Each token represents a piece of that gold sitting in a vault somewhere.
Material things
Now, this NYDIG guy, Greg Cipolaro, he’s got some thoughts on this, and says it won’t be like Bitcoin, all trustless and decentralized. Blockchain, he says, they ain’t that smart.
Bitcoin doesn’t even know its own price, or the time. But here’s the thing, Cipolaro thinks it could actually help Bitcoin.
Audits, transparency, sure, the blockchain could help with that. But it still needs trust, central entities. Bitcoin? It’s supposed to cut those guys out completely.
But think about it, gold tokenization might get more people thinking about crypto. They might say, what’s this blockchain thing all about?. Then, boom, maybe they stumble onto Bitcoin.
Audit
And there’s a backstory here, see? Some people have been asking for an independent audit of the U.S. gold reserves.
Senator Rand Paul, he’s been poking around, maybe even got Elon Musk involved. They want to know if all that gold’s really there in Fort Knox. After all, it’s the public’s gold.
The Treasury does its own audits, publishes reports every month. But Trump and Musk, they’ve been pushing these conspiracy theories, questioning everything. They want a real, independent look.
This gold is the property of the American people. I sure hope it’s still there!
— Elon Musk (@elonmusk) February 17, 2025
Now, tokenizing gold, putting it on a blockchain, it’s like giving that gold a digital identity. Makes it easier to track, easier to trade, 24/7.
You can buy fractions of gold, not the whole bar. It’s supposed to make it more accessible, more efficient. It still doesn’t prove the real physical gold is there, but the illusion is sweet.
Same system, new name
These tokens, they’re stored in digital wallets. Like Bitcoin, see? But instead of magic internet money, it’s supposed to be gold-backed.
Each token pegged to a certain amount of gold. But Cipolaro is making it clear, this ain’t Bitcoin.
This is still gonna rely on the old system, the vaults, the custodians, the trust. But maybe, just maybe, it’ll get more people thinking about the blockchain. And maybe, just maybe, that’ll be good for Bitcoin.
Have you read it yet? The people have spoken, delisting vote is coming on Binance
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