You are viewing a single comment's thread from:
RE: Physical Gold Secured by Blockchain and Guarded by the Royal Canadian Mint
wow! that's wild! stored elsewhere and transacted on the blockchain!! to be honest, i would probably feel weird having it stored elsewhere on trust... imagine if shit really hits the fan, calling the Canadian Mint all like I need my gold now, please, if you could just FedEx it to me... LOL!
LOL! I think their idea is more that if you want to take delivery you do it before SHTF. But if SHTF, you have them sell it and wire you the funds. But yeah, if no banks, how are they going to get you the funds!
For me this would totally be that "try to get 10% of my portfolio in precious metals" and not the emergency fund. The emergency fund would be a smaller amount I keep near me for... well... emergencies.
It's all part of the counter-party risk of having it not in your possession, but still wanting to use it in global commerce. Perhaps we should decentralize it and have local vaults again, but still blockchain-secured.
Posted using Steeve
Really interesting idea. Interesting to explore how it might work.