The head of Sprott, that manages alternative assets, has told that blockchain technology is able to make gold more valuable and practical asset.
In the interview with Kitco News Peter Grosskopf has noted that gold almost isn`t used for daily payments. But for complete money replacing this asset needs wider ways of usage.
“I think it’s acceptable enough to criticize gold for the fact, for example, that you can pay at a gas station with gold coins. But now, when gold can be transferred in digital format thanks to blockchain technology, you can easily pay goods and services with it and transfer it among users practically without a commission. Special cards must appear, where digital gold will be stored, and you will be able to pay with it, including purchases abroad”, – Grosskopf claimed.
Wherein, the head of Sprott has stressed that “digital gold” won’t look like Bitcoin, and will bind to physical asset. Investment resource stresses that In fact, he has described stable cryptocurrency. Grosskopf has also noted that the use of blockchain technology will help track transactions, and therefore the system “cannot be hacked”.