We have seen some of the assets backed crypto coins in the market on the way and do you guys think this will be the future as this is directly based on national assets like gold and other products like charcoal and energy based products. This will help in growth of country's economy if not taken over by greedy corporatesand and and will it have government's support or soft corner in the regulator's eye as it will bring in some money from outside.
The problem with claiming that you have an asset to back your coin is that the regulators demand proof that the asset exists. Tether for example has got into trouble for not being able to prove it is backed by a reserve of dollars.
The other asset backed coin - Venezuela's Petro - claims to be backed by oil. But no-one trusts the Venezuelan govt to make that oil available to give the coin value.
People would be better off sticking with regular kinds of cryptocurrency. If you want assets like gold or oil, buy the gold or oil company shares directly.