Tokenized precious metals create the potential for fractional ownership of gold and greater transparency. Indeed, the world’s largest bank, JPMorgan, is prepared to use its proprietary blockchain to tokenize gold, and the Royal Mint has pursued technologies to achieve the same.
As CCN reported, some venture capitalists believe Bitcoin will replace gold as a store of value. But, what happens if you combine blockchain and precious metals? Financial powerhouses and blockchain startups alike are investigating the intersection between precious metals and blockchain.
JPMorgan, the most valuable bank by market capitalization in the world, intends to use its enterprise version of the Ethereum blockchain, Quorum, to tokenize gold bars.