Deven Soni, CEO of Matador Gold, discusses how his company integrates gold with blockchain technology, and his outlook for the gold market in 2023 and beyond. He also chats about crypto regulation with Ernest Hoffman, Reporter for Kitco News.
Deven Soni is on a mission to revolutionize the way we view and trade gold. He believes that by combining physical gold with blockchain technology, Matador Gold can provide investors with a new way to invest in the precious metal.
Matador's focus is on providing utility with gold through a technology platform and layer, which facilitates not only the digitization of gold, but also enables individuals to trade it with the same level of ease as they would trade stocks on their mobile devices. In addition, it empowers users to undertake a range of activities that may not be feasible with physical bullion, ETFs or other similar products available in the market.
Individuals who possess and value gold often desire a tangible link to the product, but the challenges of personally storing it are evident. Matador's research has identified a solution that addresses both concerns, enabling purchasers to buy physical gold that is securely held in a highly protected facility (Royal Mint) while also allowing for delivery. This method offers the best of both worlds: a genuine connection to physical gold without the usual difficulties of storage and acquisition.
People are optimistic about the economy due to the rally in equities and a fallback on inflation, but this may not be the case in the near or medium term. Central banks are buying record amounts of gold in an effort to take back control from the dollar and diversify their assets.
Gold-backed central bank digital currencies (CBDCs) are a certainty in the near future due to the unwinding of globalization and the desire for countries to be more self-sovereign. Gold is seen as a stable backing for currencies and will allow countries to differentiate themselves from other currencies, but they may lose some control since they cannot print money without the backing of gold.
Countries that have had terrible economic luck due to mismanagement or corruption, such as Argentina, Lebanon, Venezuela, and Turkey, are the most likely to adopt a gold-backed CBDC.
Matador Gold is an exciting new venture that combines the benefits of physical and digital gold. The company is on the cutting edge of innovation in the gold market and has the potential to change the way we view and invest in the precious metal.
While there are challenges to overcome, such as regulatory uncertainty, Matador Gold is working hard to provide investors with a safe and secure platform to invest in gold.
As the world becomes more uncertain, gold will likely continue to be an important investment for many people. Matador Gold's unique approach to combining physical gold with blockchain technology could be the key to unlocking new opportunities for investors.