In order to help answer this question the latest feature report from The Hutch Report provides Goldmember, and any other curious minds, an objective overview of the Gold Backed Cryptocurrencies that are starting to crop up all over the place.
“I love gold” was the classic line from the Austin Powers movie, Goldmember. It also sums up pretty much how most gold bugs feel about the subject. It seems that the amount of zeal for Gold can also be compared to the zeal for Cryptocurrency for those us who have been bitten by the Bitcoin bug.
It is no wonder then that we would see efforts to converge Gold platforms, which have been centuries in the making, with the relatively recent innovation and technical advances now possible via the blockchain and cryptocurrencies.
As with any superhot areas that are trending there are all kinds of characters who become involved. There are the true innovators, the business developers, the visionaries as well as those looking to capitalize, in any way they can, just hoping to profit from the trend.
Who and which ones are the true innovators developing value?
Which ones are the scam artists just hoping to make a quick buck from a trend?
Even way before Bitcoin become a household word, the road to today is littered with failed attempts at creating gold backed digital currencies. Will the introduction of the blockchain make a difference?
In order to start answering these questions, The Hutch Report has taken an objective look and conducted an analysis of over 20 gold backed cryptocurrencies as well as several bullion exchanges incorporating blockchain technology. The analysis is meant to provide a neutral and objective look at the nascent vertical in order shine a light on who some of the budding players are and let the reader make up their own minds as to who and where true value is being created.
The analysis is free and can be downloaded from here:
https://www.thehutchreport.com/feature-report/
We hope you enjoy reading it and look forward to your feedback!
Goldmember!
Interesting. I did not know there were so many Gold backed cryptos. Any Silver backed?
Yes, there are quite a few silver backed ones as well, although we only covered the Gold ones in the report for which we read and studied their whitepapers. Are you more of a silver bug than a gold bug?
The strengths and weaknesses of the gold would also apply to silver. Some of the silver ones are LNK, Indiegogo and SLVR.
Glad you think so! Thank you.
Wow! I actually learned a few things! Awesome report and great to see the review of all those gold backed altcoins. For a second, I was wondering why Bitcoin Gold was not mentioned in there and then realized that despite the name, that it has nothing to do actually with Gold or Bullion. I did not know so many gold backed cryptos were launching, thanks for the great analysis.
Thank you @wanderingmind. That would be cool if you resteemed and told your friends about the report as well.
Consider it done :) !
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