Bitcoin Meets Gold: The Launch of Tokenized Gold on the Blockchain
A new service allows the trading of physical gold on the Bitcoin blockchain through a novel protocol.
Bitcoin, often dubbed "digital gold," is now offering an innovative way to mint and trade physical gold on its blockchain.
Swarm Markets, in collaboration with OrdinalsBot, has introduced an investment opportunity in gold bars via the Bitcoin network. This initiative marks the first instance of real-world assets (RWA) being available on the Trio marketplace, anticipated to launch by year's end.
Details of the Service
- The process involves inscribing unique serial numbers from gold kilobars onto satoshis. This makes each satoshi essentially a token that can be traded on the Bitcoin blockchain.
This development suggests that investors can now diversify their holdings by managing both physical and digital gold, utilizing a single blockchain infrastructure.
Timo Lehes, Co-founder of Swarm, stated, "Investors no longer need to debate whether they should hold real or digital gold, when Swarm’s Ordinals offer the ability to hold both simultaneously using one blockchain as a common infrastructure."
Bitcoin's reputation as a digital asset parallels that of gold, particularly in terms of value retention. However, its performance can vary during economic downturns, as evidenced recently when Bitcoin managed only an 0.8% increase amid a market rally for gold.