Gold meets Ethereum = Digix

Bit geeky this one…

Been taking a look at cryptocurrencies and have been reading up about how Ethereum (a bit like Bitcoin, but with extra sauce) can have it’s blockchain functionality used by other applications. Seems one company is trying to improve on paper gold investments using the service by having gold investments that are backed up by real physical gold using Ethereum’s blockchain as a proof mechanism so that gold isn’t double sold I guess -

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Don’t have a lot of knowledge in this area gav (or any other areas actually!) but isn’t there about a million times more paper oz’s than physical oz’s? and if every gold investor wanted to hold their gold the whole thing would collapse?

I’ve a few bitcoins.
Will probably get some Ethereum too.
Diversity is the key.