I was just thinking about this yesterday - wondering if there would be a case for a crypto backed by gold.. if you could use block chain technology to track the purchase of every ounce so that there is complete transparency and was able to store it somewhere where it could be under constant streaming video surveillance for all to see .. then crytpo could be issued for every new ounce of gold collected - it could be funded with several millions dollars worth of gold to get it started .. and each unit could be worth 1/1000 an ounce of gold. If any gold is redeemed - it is done through the ledger so it transparent to everyone and fraud is eliminated. There would be no question as to its value and it would be more stabilized - unless of course there is secretly less gold than they are letting on and a run on gold suddenly skyrockets the price of gold to a point where it becomes too expensive to obtain...very interesting... I was wondering if anyone was thinking about this too