Smithing Down The Gold-Backed Cryptocurrencies
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Cryptocurrencies can be considered both Peter Pans and Jack’s beanstalks of the world of technology. They seem to keep the curiosity, they never grow old, and at the same time, they grow bigger and bigger with every passing day! In all of these, cryptocurrencies – and many digital currencies for that matter – have grown without any backing of physical assets.
While this growth might be deemed as a great advantage by people who want to reap Return on Investments, the lack of physical backing for the cryptocurrencies is a cause of alarm for many financial experts.
Any cryptocurrency that is backed by a physical asset or anything of stable value will surely be considered a welcome move by both finance and technology. This is where the relevance and awesomeness of gold-backed cryptocurrency come in.