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Australia's Perth Mint becomes the next entity to create a gold backed cryptocurrency

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Australia's Perth Mint becomes the next entity to create a gold backed cryptocurrency

8:13 AM

One of the world's largest mints has decided to dip their feet into the realm of cryptocurrencies by announcing the plans for the creation of a gold backed cryptocurrency.

On Jan. 23, Australia's Perth Mint reported that they are hitching onto the wave of Blockchain technology for their gold products through the creation of a gold backed cryptocurrency in the hopes of making gold purchasing more efficient and more transparent.