Digitalization of securities
The Tbilisi Digital Economy Exchange is a blockchain-based global digital stock exchange that has recently been developed to address the challenging new class of financial assets - digital securities. The Tbilisi Digital Economy Exchange overcomes the obstacles that prevent securities from becoming digital assets: liquidity, standardization and transparency. As securities become a successful digital asset, the technology can be easily adapted to other suitable financial markets.
In the 2008 financial crisis, gold became a safe haven for the crisis, and Bitcoin came into being. At the beginning of its birth, Bitcoin was branded with the mark of “digital gold”. Like gold, it became synonymous with “value storage.” Nowadays, the blockchain transformation of the gold industry has become the guise of the times, blockchain, this one. The value of the Internet has provided the basic conditions for the digitization of gold. In particular, USD stabilized coins such as USDT have been frequently questioned, and the gold stable currency has become a new battlefield.
In an interview with Fortune, Charles Cascarilla, Paxos CEO, who launched the US dollar stable currency PAX in 2018, revealed that Paxos will launch a gold-linked digital currency this year.
In other words, the gold stable currency can be anchored to all other digital currencies, just as the dollar anchored gold under the Bretton Woods system, and other sovereign currencies anchored the dollar.
If this mechanism can be finally established, it would be equivalent to recreating the “golden summary standard” in the world of digital assets. Can this circumvent the current global economic system to circumvent the current global economic crisis caused by super-issue and bubbles? Has a profound meaning.