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18 February 2020

Gold-Based Ethereum Token Emerges “Down Under”

Gold-Based Ethereum Token Emerges “Down Under”

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Known as the Perth Mint Gold Token (PMGT), it will be the first of its kind issued on a blockchain that’s backed by government’s reserves.

Many are looking to attract institutional players to the digital token world thinking this will somehow legitimize the industry.

In addition, building anything on the Ethereum network, at this stage, is somewhat questionable, considering the network’s co-founder Vitalik Buterin recently emerged to let people know that the blockchain wasn’t scaling properly.

Designed to alleviate customers from bank-based control, those who use crypto are given a chance to take charge of their own finances, but if the token is being issued by a financial institution, this control ultimately dissipates

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