Could the answer been right under our noses the whole time? The U.S. dollar is up, the Chinese yuan is down and both have had a ripple effect on the entire global economy. With businesses at the mercy of currency fluctuations in today’s international markets, innovators have looked for a way to ease that pain point.
Cryptocurrencies were, in large part, one answer to the problem. Bitcoin was supposed to have been a global currency, but as we all know today, that’s not exactly the way things turned out.
Could the answer have been right under our noses the whole time? BitGold CEO Darrell MacMullin says yes, and that the answer is in gold.
His company has just begun a phased rollout of its gold-to-gold money transfer services for U.S. customers, and corporates will soon get in on the action with the introduction of BitGold for Business.
MacMullin told PYMNTS about the use of gold as a global currency less exposed to risk, as well as how to use the precious metal as a payment rail for businesses that need a fast (and cheap) way to send and receive money overseas — whether that be to and from customers, contractors, suppliers or even their employees.
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https://www.pymnts.com/news/b2b-payments/2016/can-gold-do-for-business-what-bitcoin-should-have-done/