Cryptocurrency Q&A
What is gold tokenization & how does it work?
What is gold tokenization & how does it work?
Riccardo
Sun Nov 24 2024
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7 answers
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Gold tokenization refers to the process of converting physical gold or gold-backed assets into digital tokens. This process involves verifying the authenticity and ownership of the gold, creating a digital representation on a blockchain, and allowing investors to trade or hold these tokens as a proxy for the underlying gold asset. It works by providing a secure, transparent, and efficient way to invest in and transact with gold without the need for physical delivery.
7 answers
TaekwondoPower
Tue Nov 26 2024
The gold tokenization process is a method of creating digital tokens on a blockchain.
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Riccardo
Tue Nov 26 2024
These tokens represent a specific share of gold bars that are physically stored.
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EnchantedMoon
Tue Nov 26 2024
The gold bars are typically kept in a secure vault.
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Giuseppe
Mon Nov 25 2024
The vault is managed by a custodian who is responsible for their safekeeping.
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Giulia
Mon Nov 25 2024
The process starts with a trusted party acquiring gold.
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