How Rare Is Virtual Gold?
A ten part series exploring the design of an invisible technology: money.
The (in)famous American economist Alan Greenspan once said that “in the absence of the gold standard, there is no safe store of value”. The gold standard is a monetary system where a country’s currency or paper money has a value directly linked to gold. The system is no longer used, with America being the last major country to renounce it in 1971. Yet gold bullion, also known as gold bar, still holds its allure to investors as a safe store of value. In recent years, a new store of value has arisen in the form of a virtual precious metal cryptocurrency called Crypto Bullion.