I see this all the time, XRP new currency for banking! Send 100M for 0.30cents!!
But why wouldnt US Gov just make a blockchain for Gold and Silver and just have it regulated by a treasury to keep a balance/tally of total gold & Silver divided by number of treasury 'dollars' to represent a solid currency.
Who in their right mind would trade an ounce of Gold for XRP which is already circulated, & owned by other people already? You may as well just give away your gold. Cause somebody else beat you to it.
There is no way in my mind that this is the plan for future currency. There has to be a treasury to buy and sell the gold for a currency. It should be blockchain to track it. But why not just make a new system from scratch or use BRICS?
Does this chain of 'logic' not make sense to anybody else?
XRP seems useless to me in a Gold & Silver environment.
Regardless of whether this will happen or not (I am doubtful it will), the idea is not to simply purchase XRP and use it to back the Treasury Gold and Silver, but rather use the platform to create "tokenized assets"
Explained here
At the end of the day if you tokenize gold and silver on a block chain, you have to trust whoever is reporting the gold and silver reserves which leads back eventually to fiat currency and the problem we have now.
The only way to solve that problem is to somehow make the gold and silver physically auditable 24/7 by the public and I don't think that is possible.
A cryptocurrency lives on the block chain, you don't need to trust a 3rd party. It is auditable 24/7 by the public. It stops the continuing cycle of banks bankrupting everyone.
An archimedes gold room. Gold stored in liquid in a secure location with the weight and the displacement visible for everyone at all times though live cams !
How do you know the live stream hasn't been doctored?
How do you know the weight and displacement sensors haven't been messed with?
Considering what you have seen on this forum, you still trust people who have control over your finances and country far too much imo.
If there's a way to easily steal money from you, it will eventually happen. You just have to look at the history of banking and finance.