Digital currency Bitcoin has blazed a new trail away from the established monetary system. In its wake, metals and technology company Anthem Vault is to launch the Hayek on May 25. The new cryptocurrency will be valued at 1 gram of gold at the day’s market price, serving “as a more secure store of value than Bitcoin,” the company claims. In fact, the Hayek may be a more secure store of value than most real currencies out there, since the Gold Standard has been abandoned since the 1970s. Free of national boundary constraints, the Hayek may benefit from most cons of a gold-backed currency without the downsides. The question of whose gold is anchoring the Hayek’s value, however, is an intriguing one.
Bitcoin’s new competitor to be backed by gold
More of Today's Solutions
A new law in Zambia makes free education much harder for future governments t...
BY THE OPTIMIST DAILY EDITORIAL TEAM There’s a particular kind of law that changes nothing overnight. The classrooms look the same the morning after ...
Read MoreA surprising look at how Father’s Day came to be
BY THE OPTIMIST DAILY EDITORIAL TEAM Unlike Mother's Day, which was swiftly embraced and made official in 1914, Father’s Day spent decades in limbo. ...
Read MoreUnderstanding feline faces: cats communicate with 300 facial expressions
Many cat owners are used to interpreting their pet's feelings through meows and purrs, but the mysterious realm of feline communication is much deeper. A ...
Read MorePoland protects 10 of its most ancient forests by proclaiming ban on logging
In a significant step toward environmental conservation, Poland's newly appointed climate and environment minister, Paulina Hennig-Kloska, declared a half-year halt on logging in ten ...
Read More
