I just notice that "Gold Standard" and "Silver Standard" cryptos have shown up on the list of supported crypto coins on Coinspot. https://www.coinspot.com.au/tradecoins Looks like Ainslie are trying to compete with the new Perth Mint crypto? https://www.goldsilverstandard.com/ Zero traded volume so far it seems.
I saw this a month or so ago I think I just don't understand how there is any use/need for something like this? I get that they're offering another way of purchasing metals, but why on earth is blockchain technology needed for this? I just can't see how this is something worth investing in, unless I am missing something?
If possible to convert to physical then this is a good alternative to the various dealer unallocated accounts available. Using Blockchain makes it anonymous for better management of tax liabilities.
It says in the image above that it's stored in their vault, so you're not getting physical - I just cannot see how this would be of interest to anyone I guess the lack of volume/trading means I'm with the majority
It's so that you can effectively use gold and silver as easy to exchange digital currency, buy things, accept payments etc.