Digital Gold Integration into Bitcoin's Blockchain Technology
Gold Breaks Barriers: Real-World Assets Now Tradeable on Bitcoin's Blockchain
In a groundbreaking development, gold bars can now be bought and traded as Non-Fungible Tokens (NFTs) on the Bitcoin blockchain. This revolutionary move, made possible through the Ordinals protocol, is set to redefine the way we perceive and trade precious metals in the cryptocurrency market.
The Ordinals protocol, a brainchild of OrdinalsBot, transforms ownership of real gold into an NFT format. Each gold kilobar is assigned specific serial numbers, which are then attached to satoshis - the smallest units of Bitcoin. These satoshis, now unique and valuable, are similar to Bitcoin's version of NFTs.
Swarm Markets, a platform for tokenizing real-world assets regulated by BaFin in Germany, has partnered with OrdinalsBot to make this new feature a reality. Timo Lehes, co-founder of the company Slush and Swarm, stated that these Ordinals allow investors to hold both real and digital gold on a single blockchain.
This partnership opens up a new avenue for investors, as they no longer need to choose between real or digital gold with Swarm's Ordinals. Bitcoin, known for its high volatility and occasional arbitrary movements, is expanding its functionality to allow users to mint and trade physical gold on its blockchain.
During the third quarter of this year, gold surged by 10% to reach record highs due to U.S. recession fears. While Bitcoin saw a modest 0.8% increase during the same period, the surge in gold prices suggests a growing interest in real-world assets in the face of economic uncertainty.
It's important to note that the contents of this article are not financial or investing advice. The information provided is the author's opinion only and should not be considered as offering trading or investing recommendations. As always, it's crucial to do thorough research and consider seeking advice from a financial advisor before making any investment decisions.
As we move forward, it will be interesting to see how this development impacts the cryptocurrency market and the gold trading industry. Stay tuned for more updates on this exciting development, as Trio, a new marketplace from OrdinalsBot, is set to launch later this year.
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