The idea for the toxication or tracking of the US Gold Reserves, so that their movements are crystal clear in blockchain, will not work in the same way without trust as Bitcoin, but this can lend a hand in cryptocurrency, says a research analyst.

Greg Cipolaro, a global research head at Fresh York Digital Investment Group (NYDIG), said on March 21 note The fact that Trump’s administration officials, including Elon Musk, floated using blockchain to track American expenses on gold and government – an idea supported by the leadership of cryptocurrencies.

“Here is a thing about blockchains. They are not very smart,” said Cipolaro. “They are limited in terms of information provided. For example, Bitcoin has no idea what the price of Bitcoin is or even the current time.”

He said that toketenization or tracking gold reserves on blockchain can lend a hand in audits and transparency, but would still “consist of trust and coordination with central entities” compared to bitcoins, which “were designed to clearly remove centralized entities.”

Cipolaro added that ideas for toke and blockchain tracking are not competitive with the cryptographic market and can lend a hand raise the awareness of what “can ultimately benefit Bitcoin.”

It comes among some connections for the Independent Audit of the United States Gold Reserve.

Republican senator Rand Paul last month apparently called on a federal project of cutting out Musk’s costs in order to examine the gold of the US government in the Bullion deposit in Fort Knox, which the mint in the USA says It has about half of the golden country.

Audits and publication of the treasury Reports About Gold Holdings in Fort Knox and other locations in the USA every month, but both President Donald Trump and Musk, sparteded ten -year conspiracy theories regarding gold and asked if everything is there.

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They both pressed the independent Fort Knox audit. The crypts were recently opened in 2017 for the then secretary Trump Steve Mnuchin to see gold, and earlier, in 1974 to the congress delegation and a group of journalists.

The Mint of Mint says that no gold came out or came out of Fort Knox “for many years”, except for “very small amounts” used to test gold purity during audits.

Trump’s secretary, Scott Bessent, he said Last month, Fort Knox is controlled every year and “all gold is present and settled”.

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