The post Binance’s CZ Flags Risks in Peter Schiff’s Tokenized Gold Plan: Just a “Trust Me Bro” Token? appeared first on Coinpedia Fintech News
Binance founder CZ has recently taken a jab at Peter Schiff’s new tokenized gold plan.
Schiff has long been a vocal critic of cryptocurrencies, but he is now turning to blockchain to make gold more accessible. While tokenized gold may seem like a good idea given gold’s recent performance, CZ’s remarks suggest there may be more to the story than what meets the eye.
“Tokenised Gold” Is Not Truly On-Chain
In a recent interview, gold proponent and Bitcoin critic Peter Schiff revealed that he is launching a tokenised gold product.
“Ideally, the one thing that makes sense to put on a blockchain is gold because it will work and it will do all the things that Bitcoin promises but can never do,” he said. He also plans to offer a debit card linked to users’ gold or silver holdings.
However, CZ pointed out that toke
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