Yes we are listening.
Silver backed stable coin looks good.
Great to hear that you stay open-minded and listen to community suggestions.
I think it would be pretty complicated to add another stablecoin to the Digital Gold project and wonder if even possible?
Seems to me that it would be easier to start from scratch but of course, I can be wrong and in my imagination, I can see already a full suite of stablecoins backed by commodities like silver, platinum, aluminum, zinc, copper and many others under the Digital Gold hood.
Dear wwzsocki,
In theory, we can create several separate stablecoins like silver, platinum, aluminum, zinc, copper, etc. All of these coins can be managed by Digital Gold.
However, it will be a different business model. Now we tokenizing the most famous metal asset. We understand that the gold price will continue to grow against the US dollar.
But we do not if silver or aluminum continues to rise against the US dollar. Maybe they will rise but as we are professionals we do not know for sure. It will be more difficult to convince an ordinary investor that tokenized aluminum is more interesting than a tokenized US dollar or gold.
Moreover, we have another problem. The GOLD token is 100% backed by physical gold held in Singapore in the special vault. But we cannot store zinc or aluminum there.
If we go deeper into that question, we find a lot of other nuances. Therefore, now we are not interested in other commodity assets tokenization.
We’ll see what will happen in the next years. If banks and institutional investors massively come to crypto markets, it will be possible to create such assets. The banks can use such tokens for hedging, loans, and other financial operations.
Regards,
Support Team @ Digital Gold
https://gold.storage
