Will be exciting to use that online…
It is already solidly backed with MATH.
If you back it with gold then the gold will be stolen or rehypothecated or more token created than gold held. You are literally asking for a repeat of history. If you like that idea though, Im happy to tell you that it has already been built and running for like half a decade. I even used it for offramp and got gold in the mail.
https://paxos.com/paxgold/
Gold just goes sideways though forever so who cares about it. It is just the zero-state.
Yeah man. I mean, they are different tools for different jobs. If I need to carry a lot of money across a border or something doing that in gold is suicide. Crypto tho… But if I needed to use something in a grid down scenario I would want TP, ammo, booze, drugs and [redacted] to trade/sell. Gold is tough to have a use now. That said, I want to get one of those accounts at the Texas Gold Depository so I can send gold there from time to time like a weird shiny savings account.