Let us imagine that Jeff Bezos bought up 20 gold mines with total contained gold of 50 billion ounces. Next, let us imagine that he created and issued a digital currency backed by this gold. If Jeff pledged that any holder of the digital currency could turn up at the mine and exchange the digital currency for an ounce of gold and that his digital currency would never exceed the ounces backed by the gold … would you use that digital currency? As cryptocurrencies evolve, having a ‘hard asset’ to back them could become paramount!