Originaly Article from MilkRoad my
favorite online crypto newsletter.
Crypto has a new buzzword: tokenized real world assets (RWA.) They’re digital tokens that represent physical items like stocks, commodities, or real estate.
Well, one type of RWA just hit a major milestone and passed a $1B market cap: gold-backed stablecoins. That’s enough to fill Scrooge McDuck’s swimming pool.
How do gold-backed stablecoins work? Each token you buy is backed by an ounce of gold. The physical gold is stored in a vault for you and you’re issued a digital token on the blockchain.
This gives token holders all the benefits that blockchain tech provides like transparency, decentralization, and increased security.
So what? It’s estimated the RWA market could reach $16T
by 2030.
And with all the recent U.S. regulations surrounding regular stablecoins, it might push people to look into other alternatives, like stablecoins backed by RWA.
RWAs may be shaping up to be the Gold Rush of the 21st century. This time, no need to bring a shovel.
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Cryptocurrencies backed by real world commodities like gold make sense to me. Are they the future?
Who knows, they could be. I have recently stumbled upon a crypto eco system that allows normal everyday crypto enthusiast to invest in cryptos back by commodities like gold, silver, uranium, etc. I am very excited about this project. The video below is a mind tweak and a great explanation of how and why this is a very intelligent move for many.
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