Digital Gold and/or Physical Gold?

GoldNRollGoldNRoll Posts: 97 Bronze ✭✭✭
Interesting article about the many cryptos backed by gold that flourish these days all over the world:

http://news.goldseek.com/GoldSeek/1519652831.php

My position is reserved:

There is currently no real need for the security and the speed that a blockchain can offer for transactions with gold, because there is a bottleneck that slows down the process anyway: the vault custodian has to physically assess the gold and change the legal ownership of gold in papers for every operation.
Also account for gold moving from one vault to another or gold custodians clearing the gold balances at the end of the day and only moving the difference overnight. While tokens are fast and cybersecure, gold is solid and heavy and that must not be forgotten.
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