In the latest instalment of LBMA’s digital gold webinar series, our speakers talk about how digital gold can be used as a payment tool.
On the question of whether digital gold will get more market capitalisation, Brent de Jong believes there’s still a lot of room to grow substantially. “There’ll be several more years before we reach critical mass,” he stated. “The investment that’s gone in shows it’s here to stay, and with increasing integration into the ‘real world’ shows it’s here to grow, too.”
“Gold now has an opportunity to be very tangible to people where it has been very intangible historically,” Alex Holmes said. “If you can tokenise that asset, put it in a digital environment, you can move and trade it easily. Regulation always follows innovation.”
“Nobody is asking to go into Gap to buy blue jeans with Bitcoin – it’s a speculative tool,” added David Galvan. “We just need to wait for the market to mature. It’s had great investment, some great technologies are being created - I’m waiting for it to go mainstream and be utilised by the masses to do good. I think great things are about to happen.”
Alex added: “It’s easy to create a token, or a crypto, but what is that really worth? Gold has intrinsic value – gold continues to shine.”
“The real opportunity is to link several of these things together,” finished Brent. “Linking the utility of gold – making it useful day-to-day – and liquidity, that’s where everybody wins. The groundwork has been laid and now is the time to see pretty rapid growth.”
Digital Gold - Part 03
Can bitcoin legitimately claim to be the ‘new gold’? Watch the latest in our digital gold series, Sakhila Mirza (General Counsel, LBMA) discussed these ideas with Charlie Morris (Founder, ByteTree Asset Management) and James Butterfill (Investment Strategist, CoinShares).