/biz/ - Business & Finance

>>56605761
BPG kovine has fully backed tokenized gold/silver on XRPL dex and large amounts of secured audited precious metals vaults in Europe
Ripple Enters the Metal Trading Market with Latest Partnership
https://cryptoslate.com/ripple-metals-partnership/
Best known for its use within the banking and finance sector, Ripple has recently partnered with a Slovenian company (BPG Group) to facilitate the exchange of physical metals using its consensus ledger technology.

https://www.thecryptoalert.com/post/xrp-s-price-glitched-to-over-17-000-for-a-moment-on-prominent-gold-exchange
this has always been a feature of XRPL, since fucking 2014
https://cointelegraph.com/news/you-can-now-use-ripple-to-buy-spend-and-trade-gold

Gold Bullion International, a precious metals provider, announced in a statement Tuesday that it was opening as a live gateway on the Ripple protocol, creating a new gold-backed cryptocoin.

https://cryptoslate.com/ripple-metals-partnership/

https://www.coindesk.com/markets/2014/01/31/bullion-exchange-brings-ripple-into-the-physical-world/

and singapore
A new service launching in Singapore today uses the Ripple network to acquire, store and convert precious metals into any currency for customers anywhere in the world.
Ripple Singapore

dubai plays a central role. see this partnership with a global precious metals consortium based in dubai
https://coinedition.com/uae-based-joyalukkas-exchange-announce-partnership-with-ripple/
UAE-Based Joyalukkas Exchange Announce Partnership With Ripple

and
https://news.bitcoin.com/dubai-multi-commodities-centre-to-issue-gold-backed-tokens-using-the-xinfin-blockchain-protocol/

it's because the new global digital reserve currency will be backed by gold
https://en.wikipedia.org/wiki/Bancor
this is how we'll get out of the liquidity crisis they will cause with a cyberattack and economic crash

this has been planned for a long time.
https://u.today/xrp-acknowledged-as-fast-and-cheap-bridge-currency-in-new-g30-report

The best solution would be a diversified multi-polar financial system, something that could be provided by technology, Carney said.

Facebook's FB.O Libra was the most high-profile proposed digital currency to date but it faced a host of fundamental issues that it had yet to address.

“As a consequence, it is an open question whether such a new Synthetic Hegemonic Currency (SHC) would be best provided by the public sector, perhaps through a network of central bank digital currencies,” Carney said.

Such a system could dampen the “domineering influence” of the U.S. dollar on global trade.

“Even a passing acquaintance with monetary history suggests that this center won’t hold,” Carney said. “We need to recognize the short, medium and long-term challenges this system creates for the institutional frameworks and conduct of monetary policy across the world.”

https://www.bankofengland.co.uk/-/media/boe/files/speech/2019/the-growing-challenges-for-monetary-policy-speech-by-mark-carney.pdf