Post
Topic
Board Altcoin Discussion
Re: Are there any Altcoins out there backed by real assets?
by
Monetran
on 18/09/2019, 18:22:40 UTC
A brief explanation of the Gold Standard and why a currency backed by gold wouldn't work today:

www.monetran.com/currency-support/

XAUR is backed by gold https://coinmarketcap.com/currencies/xaurum/
There is also a project by the Populous Team which is named XAUP, I think its not yet on the market right now. This is the ANN thread of this project https://bitcointalk.org/index.php?topic=5100378.0

I think there is also a gold backed project in the WAVES platform, I just can't remember the name of the project.  If by real asset includes real properties then I guess there are more of the projects, you just have to search for it.

Yes, there are gold backed tokens issued by various companies. The point is, gold is a sometimes volatile commodity. This prevents any coin or token backed by gold (or any other precious metal) from achieving two important goals of any cryptocurrency which is striving for mass adoption: price stability and the ability to serve as a store of value. 

Without price stability, a crypto can't be reliably used as a medium of exchange because its value will fluctuate, often significantly.

Without the ability to serve as a store of value, it can, and often will, lose value over time.

Backing by gold is not a guarantee of anything other than it is not backed by zero.