CZ Clashes With Peter Schiff Over Tokenized Gold Comments
Binance co-founder Changpeng Zhao, aka CZ, has clashed with Bitcoin critic Peter Schiff over claims he made about tokenized gold. The confrontation originated from comments Schiff made in a live stream with Threadguy that he plans a blockchain-based platform to launch a tokenized gold product that would have an edge over Bitcoin. “Because gold will maintain its purchasing power so ideally the one thing that makes sense to put on a blockchain is gold,” he said. Schiff added that his tokenized gold product will “do all the things that Bitcoin promises but can never do” and that traders would be able to purchase the tokenized gold through a platform called SchiffGold. “And then you can transfer the quantity of gold, instantly at very low cost,” he said. ”Much cheaper and much quicker than you can transfer Bitcoin. You can pay or be paid in gold. And you can redeem it in physical gold or eventually you can redeem it in a token....