17 Comments

  1. A short video comparing the backing of XRP with gold vs. doing so with the US dollar. There’s a fun XRP price valuation at the end!

  2. If XRP was backed by gold
    at the price of XRP at $70 per token ….would the price of XRP rise when the price of Gold rises???

    • Yes, because the idea is that XRP can be exchanged for a certain amount of gold. Whether it’s a 1 to 1 exchange or a fractional system. There is a direct connection.

  3. Total BS and look like a click bite. Who gone custody the gold? What nation gone agree to redeem the XRP to gold. In a global world this not make any common sense at all. So many problem. And no liquidity for the IOV.

  4. Great video. However what do you think about Hashgraph against Blockchain in general? I feel like that DLT could possibly be used if XRP was not going to be used as we think.

    • It will be interesting if they did somehow back it by gold and how they would monetize the gold weight, gram…ounce….who knows!?!?

  5. I think the word “backing” has a lot of confusion behind it. If you replace that with “redeemable for”, it makes things a little easier to understand. I envision locations(bank/exchanges) in all countries where a person can walk in and trade XRP for gold, or currency, or trade gold/currency for XRP. The key is when gold/currencies start getting “priced” in XRP. I wouldn’t imagine XRP being backed by gold it would just be redeemable for gold and the exchange rate would fluctuate based on the market.

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