There’s a New Cryptocurrency Coming, and it’s Backed by Gold

Nick Sorrentino
|
Posted: May 12, 2015 12:01 AM
There’s a New Cryptocurrency Coming, and it’s Backed by Gold

A couple of years ago I spent an evening talking economics and entrepreneurship with the developer of the new gold backed cryptocurrency The Business Insider reports on below.

I’ll say this. Anthem is darn sharp and I love that he has named his currency the Hayek. He told me about this venture when we met and I am pleased to see that his dream has become reality.

A gold backed virtual currency is just smart.

(From The Business Insider)

There’s a new cryptocurrency coming to the market.

What makes it unique to existing cryptocurrencies like Bitcoin?

It’s backed by gold.

Anthem Vault, the metals and technology company, will launch the coin on May 25.

The coin will “be valued at 1 gram of gold at the day’s market price, [and] will serve as a more secure store of value than Bitcoin,” according to the press release. It will be called the Hayek, “after the Nobel-winning Austrian economist Friedrich Hayek.”

Click here for the article.