Last week the nation of Dubai announced the creation of a blockchain based crypto-currency that would be backed by physical gold, and would be compliant with the new dictates of Sharia law finance. And this gold-backed crypto-currency idea was quickly followed by a plan between the Chicago Mercantile Exchange (CME) to do the same with physical gold backed by the UK Royal Mint.
Now a third company is seeking to get off the ground by creating a new gold-backed crypto through an Initial Coin Offering (ICO) on May 26.
