The Royal Mint is looking to pursue a rather innovative concept in the coming months. For the first time in the 100-year-old institution’s history, they will issue digital gold, recorded on a blockchain. This project will come to fruition through a partnership with CME Group. Digital gold issued by The Royal Mint is expected to become available in 2017.
Digital Gold Is The New Plan For The Royal Mint
In this day and age of digitization and innovative technologies, it was only a matter of time until established institutions started looking into new opportunities. For The Royal Mint, that change is not coming easy, even though they have to get along with the shifting needs and demands. Digital gold products are the top priority for the Royal Mint right now, and they will issue this new commodity at some point in 2017.
Thanks to a partnership with CME Group, the new asset will be known as Royal Mint Gold. A digital record of ownership for precious metal will be created on the blockchain, while the bullion itself is stored in an on-site storage facility. CME Group will take care of the development and