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Texas proposes a digital currency backed by gold as a bridge towards the adoption of cryptocurrencies and Bitcoin. This initiative aims to offer security to skeptical investors, facilitating entry into the world of Bitcoin and decentralized assets. Let’s see all the details in this article.  The proposal from Texas could revolutionize the adoption of Bitcoin Texas is preparing to write a new chapter in the history of cryptocurrencies with a bold proposal: a digital currency issued by the State and backed by gold reserves.  The initiative, led by Cody Harris, a member of the Republican Party in the Texas House of Representatives, represents an innovative step to bridge the gap between the traditional financial system and the growing ecosystem of criptovalute. Presented for the first time in April 2023, the idea of a digital currency backed by gold took shape through two bills introduced by Senator Bryan Hughes and Representative Mark Dorazi.  The objective is simple yet revolutionary: to create a digital token in which each unit represents a fraction of a troy ounce of gold, held in specific state trusts. During the North American Blockchain Summit on November 21, Harris described this initiative as a “springboard” towards Bitcoin and other decentralized assets.  In an informal conversation with David Duong from Coinbase, he emphasized that a state-issued digital currency could offer investors a reliable and secure alternative, helping them to familiarize themselves with the world of cryptocurrencies. The proposal from Texas is born with the intent to address the concerns of the more skeptical investors: “A digital currency backed by gold would provide a level of comfort that tokens issued by private startups cannot offer.” The project does not aim to compete with Bitcoin, but rather to serve as a gateway for those who wish to explore the cryptocurrency market…

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Filed under: News - @ November 22, 2024 8:27 pm