Plans to launch a gold coin backed by one of Australia's largest gold refineries

Australia's precious metal refinery, Perth Mint, has developed its gold-backed currency in an attempt to lure consumers back into investing in gold. Perth Mint is Australia's largest gold refinery, with more than 700 tonnes of gold per year.

The massive exodus of investors into new alternative investments in digital currencies such as Bitquin in recent years has prompted the refinery to offer its own currency. With the aim of restoring some attention to rare metals.

The company is currently developing a gold coin that is not yet named and backed by gold, which will also be used to buy and sell digital gold on the block. According to ABC News, in talking to the publisher, CEO Richard Hayes highlighted " Like the Bitcoin currency "as investors move away from assets that are traditional safe havens. He argued that the gold-backed digital currency to be traded on blockchain would have its own advantages.

In addition, the chief executive stressed that the company is also interested in the application of plucchin technology in its engines. One possible application in this area is the existence of a full supply chain of gold bullion traceable from the mining site to its sale to a customer - tracked and registered in the plocene with its transparency and non-adaptability privilege. The refinery's invasion of the digital currency and blockbuster technology comes a year after the UK Treasury announced its "digital gold". Customers will be able to buy, sell and retain gold on the plocene through the digital mint called "Royal Mint Gold" RMG).

The development of Blockchain trading platform was co-developed by Bitcoin to facilitate the trading of $ 1 billion of gold bullion stored in the Royal Mint cabinets near Cardiff Wells. Ultimately, the Perth Mint is looking to provide another platform to sell gold as well. In this regard, he added: