New Digital Currency Is Backed By Gold

SAN FRANCISCO (MarketWatch) — Move over, bitcoin! Anthem Vault is getting ready to launch a large-scale digital currency. But this one’s backed by gold.

The new cryptocurrency, which debuts in May, is dubbed the “HayekCoin” after Nobel Prize-wining economist Friedrich Hayek. Anthem Vault’s Chief Executive Officer Anthem Blanchard also claims Hayek as his middle name.

“We think the cryptocurrency community is going to really embrace” the gold-backed digital currency, Blanchard told MarketWatch.

Presently, there isn’t a cap on the number of HayekCoins that will be available, Blanchard said. “The only limitation is the amount of physical gold available on the planet,” he noted.

The launch of the HayekCoin comes after what Blanchard describes as a successful initial run of a prototype known as the “INNCoin” back in July.

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