Goldcorp deposits Gold to Blockchain

I’m unimpressed, and skeptical


This “blockchain” company has about 30 people working with them.

Goldcorp provided $4 million worth of gold.

In contrast, in April, 2011, my mint, JH MINT (now out of business) sold $5 million worth of trades. Everyone got their gold, and silver, no customer complaints. We had a maximum of 5 employees, and we delivered physical metal through the mail.

The blockchain company, which is supposed to be more efficient, I presume, has 6 times more employees, and so far has facilitated less dollars worth of metal, and presumably, does not deliver retail, because I assume it’s all tracked on the blockchain.

And their custodian is the Royal Canadian Mint, which partners with all the bullion banks, and who we are all betting will go bankrupt when the gold prices really move. So why keep gold with bankrupt entities who are short about 5 to 15 to 100 times more gold than they have?

Again, I’m unimpressed, and highly skeptical.