Hi everyone! i'm a student , and i'm working as an assistant for a corporate consulting firm. I have a task to learn about gold tokenization. Please help me if you know something. And I would like to ask : Do you agree with the statement that gold tokenization can transform the financial industry?

It's possible, but personally I think there's more opportunity in precious jewels than gold. Diamonds are similar, but the price varies greatly based on the color, size, cut, and personal preference. Imagine a site where you had a stellar NFT for each diamond in a marketplace. It could be tracked, purchased, even fractionally owned (which kinda takes the "F" out of there, but whatever).

I think there's more opportunity in that than in the barbaric relic.

    ddombrowsky Yeah, I think it's a great idea to develop such site, but it's a question: gold or precious metals? because gold is more liquid asset than precious metals, and it will be more popular and easy to buy tokenize gold. Don't you think so ?

    To be honest I don't think gold (or any precious metal) tokenization is viable (at least not in the way we are doing it at this moment). I mean, if you want to have gold you need to keep it safe and the more gold you have the more money you will need to spend to keep it safe... Now, if you add to those costs the thing that you are a custodial then you also need to add audit costs to prove you have the gold you say you have and you tokenized.

    At this moment, a tokenized gold can be freely traded in the blockchain (in Ethereum you have multiple of them) without paying fees to custodians so... How can you keep paying others costs?

    That's why I don't think it's viable at this moment, not until we start paying fees to custodians who keep the gold safe and also audit them (because I won't buy a gold token that is not audited)

      MartinMill Exactly and there are some tools where you can even track from where the chicken you're eating comes from... But they are extra services not related to the original issue

      12 days later

      There is something to consider. Pre QFS and Post QFS (Quantum Financial System). We are in a transition period. QFS has not been officially announced yet as of this moment to my knowledge. The SWIFT system has already been dismantled however and the QFS is actually in place and should be publicly announced very soon. The QFS is gold and precious metal backed. Every country has already signed up for QFS. The main asset is gold and every bar in the QFS has a Quantam signature and can already be tracked. Same of all other assets.
      It is my understanding Stellar X is QFS, not fiat so tokens tethered to Gold are tokenized.
      Community, please correct me if needed.
      Thank you.