Africa: COVID-19, Gold Demand and the Gold-Backed Stablecoin Opportunity

[newshunter]

Africa: COVID-19, Gold Demand and the Gold-Backed Stablecoin Opportunity

Gold-backed stablecoins have the potential to drive developing economies such as Africa to the bright future

Source: Africa: COVID-19, Gold Demand and the Gold-Backed Stablecoin Opportunity

Would appreciate your opinion about this

[bigcash2011]

To be honest i have seen many many gold backed stablecoins already but as it is not regulated we do not know they really back them with gold or they are fake. It is good concept but we need solid verification of backing otherwise it can be very risky.

[Fenix]

It seems to me that you need to give preference to stable coins of the states, which will be provided with gold. Private stable coins can crash at any time. In any case, we need an international body that checks and guarantees the coverage of stable gold coins.
So many stable coins have already appeared that it is already necessary to take special care with their selection and application. It seems to me that a stable coin of a strong state will be more reliable than a private stable coin coated with gold.

[Noverteno]

We cannot verify the actual availability of gold with various numerous emerging projects, including stable coins. It seems to me that stable coins of the central banks of states will inspire confidence. After all, behind them is the specific economy of the state.
A stable coin from the central bank of China should appear this month. Let's see how it will be perceived by the international community. However, it seems to me that she has a great future.

[ShadowCrypto]

There is a lot of cryptoccurrencies already that are "backed" by real gold, no need to create more, we have a few good ones.