Announcing a Return to our Roots: The All-New Bitcoin Magazine

HayekGold from Anthem Vault Represents Physical Gold on the Bitcoin Blockchain

by

         HayekGold from Anthem Vault Represents Physical Gold on the Bitcoin Blockchain

Financial technology company Anthem Vault today launched HayekGold (the 'hayek'), a digital token that enables more people to own and spend gold. Each hayek represents 1 gram of gold stored in the secure, world-class vaulting facility in Salt Lake City, Utah, and will be purchased at the market value at the time of the transaction.

"We use the latest, most secure technology – the Bitcoin blockchain – that fuels hundreds of other crypto-related platforms," said Anthem Vault founder and CEO Anthem Blanchard. "The Hayek coalesces the most trusted store of value in history, gold, with the world's most secure exchange network, Bitcoin. Gold is hardly volatile and can help create a more anchored currency and savings plan."Blanchard, a lifelong advocate of decentralized sound money, is the son of James U. Blanchard III, who helped restore Americans' right to own gold bullion. The Hayek name leaves no doubts about Blanchard’s political leanings. 

“First of all, we love F. A. Hayek, one of the greatest contributors to the Austrian School of Economics,” states the HayekGold website. “He wrote a number of valuable books and articles about the free market, price theory, and more throughout the 20th century. Second, Anthem Vault’s CEO is named Anthem Hayek Blanchard. His parents loved F. A. Hayek’s work so much that they named their son after him!”

Anthem Vault’s initiative was previously referred to as HayekCoin. Anthem Vault decided to change the name to HayekGold to help clarify exactly what the crypto-asset is and how it works.

“When most people talk about cryptocoins, they are referring to a digital currency that can be mined (created) with a computer,” notes the HayekGold website. “HayekGold, however, does not involve any digital mining. Sure, the physical gold has to be mined in the traditional sense (by digging into the earth!), but the digital tokens can never be created out of thin air. They can only come into existence when real gold is deposited into Anthem Vault.”

Presumably, the company also wanted to avoid associations with “altcoins” of dubious reputation and trustworthiness. In fact, HayekGold runs on the Counterparty infrastructure, which is a layer on top of the Bitcoin network. That means that HayekGold is not an altcoin but a part of the Bitcoin ecosystem, and every transaction is recorded on and secured by the real Bitcoin blockchain.

AnthemVault

https://www.weusecoins.com/anthemvault-review/

provides individuals with an efficient and liquid way to buy, own and sell physical, 100 percent fine gold and silver bullion. All metals are securely stored with an independent world-class vaulting facility in Salt Lake City, Utah and are insured for loss by theft or natural disaster. Anthem Vault's offices and operations team are based in Las Vegas, Nevada. The company is incorporated as a Nevada corporation and regulated as a precious metals dealer by the U.S. Treasury.Other gold companies are discovering Bitcoin. In May, BitGold, a Canadian corporation with offices in Toronto and Milan and a network of secure vaults for gold storage, announced the public launch of the BitGold platform, a software service that connects gold storage with payment networks, resulting in a banking-like platform for gold.

Recommended

Ten Years Later, a Reflection on Bitcoin’s Genesis and Satoshi’s Timing

Rather than focusing simply on what the genesis block is, today is a day to reflect on what the genesis block represents.

Colin Harper

Op Ed: From Gray To Black and White: Traditional Regulations Come to Crypto

For the crypto industry, recent developments — at both the federal and international levels — signal that the time for plausible deniability or unregulated freedom is coming to an end and more traditional regulations are moving to the forefront.

Courtney Rogers Perrin and Joshua Lewis

Bitcoin Price Analysis: Blowing Through Support Levels on the Way to $3,000

Bitcoin continues to tumble lower and lower as it struggles to claim any footing in the market. It’s down almost 50% in three weeks and it’s showing very little sign of stopping. It’s currently clutching onto the $3,500 values but it doesn’t look like it can hold on much longer.

Bitcoin Schmitcoin

Op Ed: SEC’s Latest Declaration Creates Legal Minefield for Digital Assets

This broad, authoritative declaration is not unexpected, as, to date, the SEC has stated that all digital assets — regardless of whether they function as alt coins or utility tokens — are securities at least initially and, thus, subject to its jurisdiction.

Huhnsik Chung and Nicholas Secara