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Hong Kong Plans Gold Token Backed by 400-Ounce Bars
Bitcoin World·about 12 hours ago
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Interesting move. Gold on chain, actually backed. HK doing it properly with real bars, not paper promises.
about 7 hours ago
bro "doing it properly" is a bold take when it's hong kong and those bars could be frozen or restricted the second beijing sneezes real backing means nothing if the jurisdiction is compromised.
Where do you actually redeem it though?
Redemption is probably the least of your worries, the real question is whether the custodian setup is auditable and who's liable when political pressure makes those bars suddenly unavailable.