NYDIG Research Director: ”US Gold Tokenization Could Have a Positive Impact on Bitcoin”

A proposal to record the U.S. gold reserves on a blockchain could ultimately be useful for Bitcoin, despite differing from its trust-based nature, some have suggested.
Greg, Head of Research at New York Digital Investment Group (NYDIG)
Cipolaro said in a report on the 21st that he had spoken to Trump administration officials and Elon Musk.
The proposal to track U.S. gold reserves and government spending on blockchain has been backed by some in the cryptocurrency industry.
"Blockchains are not smart," Cipolaro said. "Just like Bitcoin doesn't know its own price or what time it is, blockchains are limited in the information they can provide.
He said tokenizing gold holdings or recording them on a blockchain would help with auditing and transparency, but still requires trust and coordination with a central authority.
This is fundamentally different from Bitcoin, which was designed to eliminate a central authority. However, he said such efforts are not intended to compete with the cryptocurrency market, but rather to support it.
"This will help raise awareness and ultimately have a positive impact on Bitcoin," he added.