A cryptocurrency that has any link to gold or claim to be digital [insert asset], will require massive overhead, regulatory oversight and ties to the established financial system.

You will need to hold physical gold _somewhere_ . That facility would have to comply with all the national and local laws, be audited, insured, the asset physically stored, etc. It will be a registered company someplace, It with bank accounts, lawyers, and Lord knows what else if the intent is to have a cryptocurrency redeemable for physical PMs.

Shipping, employees, payroll, HR Departments, office space, diversity consultants, etc.

I see no opportunity to add value to the current precious metals ownership structures. In fact, all I see is added costs for no meaningful benefit.