{"id":4051,"date":"2019-11-06T11:29:15","date_gmt":"2019-11-06T11:29:15","guid":{"rendered":"https:\/\/www.futuresandoptions.gr\/en\/?p=4051"},"modified":"2019-11-06T12:47:06","modified_gmt":"2019-11-06T12:47:06","slug":"blockchain-stablecoins-and-gold","status":"publish","type":"post","link":"https:\/\/www.futuresandoptions.gr\/en\/blockchain-stablecoins-and-gold\/","title":{"rendered":"Blockchain, Stablecoins and Gold"},"content":{"rendered":"\n

Blockchain\nTechnology in the last years aims, among others, to create a new and safe payments system for global\ntransactions that will be fast, secure, cheap, transparent, and decentralized. For\nthat, it\u2019s going to use\ncryptocurrencies.<\/p>\n\n\n\n

The\nvalue of most cryptocurrencies, like Litecoin and Bitcoin, fluctuates daily,\nand while the digital currencies aim to facilitate safer transactions, their values\ndepends\nincreasingly on\nspeculation.<\/p>\n\n\n\n

\"BLOCKCHAIN\"<\/figure><\/div>\n\n\n\n

The\nfirst wave of crypto assets has failed to provide a reliable and attractive medium\nof exchangeand\/or\nstore of value. Crypto coins suffer from high volatility, limits to\nscalability, complicated user interfaces and issues in accounting, governance\nand regulation. Crypto assets have served more as a speculative asset class for\ntraders-speculators and those engaged in illegal activities rather than as a\nmeans to facilitate global transactions and payments. Today, new\nstablecoins have many of the features of more traditional cryptocurrencies but\naim to stabilise the price of the crypto coin by linking its value to that of\nan underlying asset or a commodity. <\/p>\n\n\n\n

Stablecoins\nare increasingly gaining traction as their values are pegged to other assets\nsuch as the USD, gold, oil or silver. Stablecoins aim to mimic the\nsame functionality of\nfiat currencies. A stablecoin is a crypto currency that is pegged to\nand\/or backed by\nan underlying asset. <\/p>\n\n\n\n

Stablecoins\nenjoy the benefits of a cryptocurrency (security, transparency, privacy, etc.)\nwithout the extreme volatility that comes with most of them.<\/p>\n\n\n\n

In the last months there has been a \u201cstablecoin\ninvasion.\u201d Numerous stablecoins have been released or are in development all\nover the\nworld. <\/p>\n\n\n\n

Most\nof the stablecoins are pegged at a 1:1 ratio with fiat currencies, such as the\nUSD or the Euro, which can be traded on forex. Other stablecoins can be backed\nto other kinds of assets, such as commodities like gold, or even by other cryptocurrencies\nlike bitcoin.<\/p>\n\n\n\n

Commodity-backed stablecoins are backed\nby other kinds of assets, among others gold, silver or other precious metals. Gold is the\nmost common commodity to be collateralized. \nInvestors and users of precious metals-backed stablecoins essentially hold a tangible asset\nthat has real tangible value. Precious\nmetals have the potential to appreciate in value over time, which gives\nincreased incentive for investors to hold and use these stablecoins.<\/p>\n\n\n\n

Blockchain\ntechnology now has established itself\nas a secure accounting method, and with BTC becoming well known to global\ninvestors, a new era of gold-backed cryptocurrency is emerging, even countries\nare looking to issue their own gold-based cryptocurrency.<\/p>\n\n\n\n

A\ncoin is issued that represents a certain quantity of gold (e.g. 1\ngram of gold equals 1 coin)so that at\na minimum the price of the stablecoin will always equal the current gold price.\nThe gold is stored in a safe location by a trusted custodian, and can be traded\non\nexchanges with other cryptocurrencies.<\/p>\n\n\n\n

An\nexample of stablecoins backed by precious metals are KAU (Gold Currency) and KAG (Silver Currency) which\nare the primary currencies of Kinesis. On Kinesis\nGold Stablecoins<\/a> you can find a presentation of Kinesis, a list of articles and other materials about this project, which is evolving into a whole monetary system. <\/p>\n\n\n\n

When\nevaluating gold-backed stablecoins look atthe legal framework concerning\nownership and storage of the gold: it is important to make sure that you own the physical\ngold.<\/p>\n\n\n\n

There\nare also stablecoins backed by other cryptocurrencies. This allows the\nstablecoins to be much more decentralized than their fiat-backed counterparts,\nsince everything is conducted on the blockchain.<\/p>\n\n\n\n

Finally,\nthere are also non-collateralized stablecoins that are not backed by anything,\nwhich might seem contradictory given what stablecoins are. These types of coins\nuse an algorithm to control the stablecoin supply. <\/p>\n","protected":false},"excerpt":{"rendered":"

Commodity stablecoins are backed by other kinds of assets, such as gold, silver or other precious metals. Gold is the most common commodity<\/p>\n","protected":false},"author":2,"featured_media":4052,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[352,855,812,24],"tags":[665,887,861,813,1031],"class_list":["post-4051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-blockchain","category-cryptocurrencies","category-gold","tag-gold","tag-blockchain","tag-cryptocurrencies","tag-cryptocurrency","tag-stablecoins"],"yoast_head":"\nBlockchain, Stablecoins and Gold - Futures and Options<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.futuresandoptions.gr\/en\/blockchain-stablecoins-and-gold\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blockchain, Stablecoins and Gold - Futures and Options\" \/>\n<meta property=\"og:description\" content=\"Commodity stablecoins are backed by other kinds of assets, such as gold, silver or other precious metals. 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