$XRP cannot be backed by gold, ex-Ripple official explains why ripplesec ripplexrp xrp xrparmy xrpcommunity ripple
another popular misconception surrounding XRP. This time it was talk and speculation that XRP could be backed by gold. This kind of talk has emerged relatively recently amid speculation that XRP could be accepted by the world's banks and other financial institutions for international settlements and would be backed by gold for its fair value.Hamilton is adamant that such an outcome is impossible.
, with the creation of a token tracking the precious metal's quotes, concluded the developer. For those who do not believe it and still think otherwise, Hamilton offered to exchange one ounce of gold for one XRP.You can track gold by tokenising it on the XRP Ledger and creating a token such as XAU like companies have been doing for the past decade. But you can't back XRP itself with gold.
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