Category: Gold

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Australia Blockchain Brisbane Gold

Australian Largest Asset Exchange, BTC Markets, is Listing Meld Gold on Its Platform

The largest Australian trading platform, BTC Markets, announced today on Twitter the listing of Meld Gold (MCAU). A Brisbane-based company that delivers and facilitates gold ownership through digital gold certificates.

BTC Markets will offer their investors AU$1 million of Meld Gold at spot prices. The trading officially starts at 11:00 AEDT on 17th November 2020.

Backed by Australian Gold

Meld is backed by recycled Australian gold, held in independent Australian vaults and refineries. The brand new company has partnered with retailers, industries, financial advisers, and several global brands to consolidate and connect their entire gold supply chain.

Meld allows businesses and investors can transact and sell their gold directly with bullion dealers — Including Brisbane-based Imperial Group, independent collective offering products and services specialising in precious metals.

Meld is also built on Algorand (ALGO), a technology that created the world’s first permissionless, point of sale (PoS) blockchain protocol and focuses on DeFi applications like Smart Contracts and Atomic Transfers.

In April, Meld announced its partnership with Algorand and Australian gold industries to add the supply chain of gold onto the blockchain technology. Usually, gold-backed tokens are supported by an amount of physical gold — under the issuer’s custody. 

However, in the Meld system, every token equals one gram of physical gold — not held by the issuer but the network companies, like Melbourne Mint. 

“Meld is developing an industry solution that interconnects the entire supply chain, creating efficiencies such as decreased costs, increased transaction speed, and greater liquidity.”

stated Michael Cotton, director of Meld Gold, for Decrypt.

“Meld is using blockchain technology to emulate and improve the actual gold market” stated Peter August, CEO of Melbourne Mint for Cointelegraph in April. August believes that Meld can shape the Australian gold industry with its new model.

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Blockchain Gold Perth

Perth Mint Partners with ASX-Listed Company to Launch Blockchain-Based Gold Consortium

The Perth Mint, Australia’s official bullion mint, has announced a new project that will expand the scope of an existing partnership with Security Matters in order to launch a new “trueGold Consortium.”

The new Consortium will see the Perth Mint and Security Matters (SMX), who announced a partnership aimed at digitizing precious metal earlier this year, gain equal partnership in a project focused on ethical gold supply chain assurance based on blockchain technology.

TrueGold is a blockchain-based platform designed to track and trace the movement of gold throughout the supply chain process, allowing key stakeholders including jewelry industry leaders, financial institutions, and consumers to ensure gold is ethically sourced.

The TruGold project is aimed at the often difficult to track supply chain ecosystem of the precious metals industry, and is focused on providing greater trust in gold — a key commodity and economic hedge during economic and geopolitical turmoil.

Described as a “mine-to-marketplace ethical gold supply chain assurance” system, the TrueGold platform created by SMX and the Perth Mint will incentivize the sourcing of gold from conflict-free areas, as well as minimize transactional risk. 

The new consortium follows the launch of a new digitized gold token issued by the Perth Mint. The Perth Mint Gold Token was announced in October 2019, and claims the title of the world’s first digital gold token based on a public blockchain network backed by real gold guaranteed by the Australian government.

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Bitcoin Commodities Gold

Bitcoin Flirts With Price Surge as Gold Hits 9-Year High, Investors Hedge Against Inflation

The global economic impact of the COVID-19 pandemic stalled traditional markets and weighed down Bitcoin volume, contributing to months of price stagnation. With gold reaching values not seen in over a decade and investor capital flooding crypto markets, however, a BTC price surge could be just around the corner.

The financial consequences of the COVID-19 pandemic has seen governments and central banks around the world print billions in fiat currency in order to bolster economic activity — to date, the US Government has printed over $3 trillion USD, while the UK Government has executed a £100 billion quantitative easing plan.

While these measures are argued as a necessity in order to maintain economic stability, the issuance of new fiat currency inevitably presents the possibility of inflation. Large-scale quantitative easing efforts as executed by international governments throughout the first half of 2020 will have a profound impact on the global economy — a fact that cautious investors are aware of.

Inflation Fear Drives Capital to BTC Market

The threat of inflation presented by qualitative easing-induced inflation has catalyzed renewed interest in gold markets, driving the value of gold to a nine-year high of over $1,800 per ounce. Macro analyst Holger Holger Zschaepitz cites a decline in real inflation adjusted yields offered by US bonds, with investors shifting capital into gold as an inflation hedge.

While Bitcoin has yet to demonstrate a concrete return to a bullish trend, the shift toward assets that resist inflation has driven attention, once again, toward Bitcoin. 

Earlier this month Argentinian Bitcoin traders pushed over $1.4 million USD into the Bitcoin market, doubling trade volumes on a weekly basis ahead of an economic crisis in the country driven by political turbulence and inflation approaching 50 percent.

The ongoing stability of Bitcoin — which has not strayed from the $9,000 to $10,000 range for several months — is redefining the market perception of digital assets, strengthening the position of Bitcoin as a hedging asset among traditional finance investors and placing Bitcoin in a secure position to challenge the $10,000 ceiling.