Everything’s Bigger in Texas: State Considers Gold-Backed Digital Currency
Texas is considering creating its very own digital currency backed by gold. The bill, currently under review by a House committee, would allow Texans to use this digital currency for transactions and even redeem it for actual gold coins. The custody of the gold will be provided by the state comptroller or a third party to ensure it’s 100% backed. While it may cost up to $100 million to implement, Texans are already rallying behind this idea. And they’re not alone – other states like Arkansas are also jumping on the alternative currency bandwagon.
Clever Robot News Desk 8th May 2023