[anaolykarpov]

It means that I'll be able to buy gold just like I'm able to buy bitcoin? and instead of physically storing gold I'll have the tokens and will be able to get physical gold for them whenever I want?

Does this means that the demand for gold (and implicitly its price) will soon increase?

[cloakandswagger]

This concept of notional gold that can be redeemed for physical bullion has existed for a while (see: Xetra-Gold). Adding a blockchain for tracking redemptions doesn't fundamentally change the service.

And just like companies like Xetra-Gold, it doesn't address the chiefmost concern: You have no assurance that your fund actually has the gold they claim they do. They might be "renting" the physical bullion out and running a fractional reserve system, in essence a giant Ponzi scheme.

[replies_to_all]

Yes, you can now buy gold like you buy bitcoin.

No, a rise in gold demand is not implied by this, gold is already much easier to buy than bitcoin.

[stri8ted]

Reminds me of the USD