Public trust in government central banks and global banks continues to erode as the world economy staggers to recover from issues caused by the pandemic response.
Many central banks have begun working on CBDC projects as a means of implementing programmable and controllable currencies even though popular opinion opposes the implementation of the G7, WEF and BIS recommendations, further eroding trust in the bankers who have a long history of corruption.
One way that blockchain ledger technology can help enable public trust in central banks, governments and global banks is by providing a means of transparency into the asset being held on behalf of customers.
The Dubai Multi Commodities Center recently announced a partnership with Comtech Gold to create TradeFlow warrants using Comtech Gold Tokens (CGO) based on customers depositing gold in approved vaults.
Comtech Gold is built on the XDC blockchain network with each contract on the network being represented with one gram of pure physical gold.
The DMCC TradeFlow project is already backed by 122 kilo gold bars.
