Well, well, well, I just found this little gem while doing my day job: Sprott, a Canadian alternative asset manager with a market cap of around $800M, recently made a very bold statement about the potential impact of blockchain on gold. Take a look at the excerpt below!
Sprott Inc. (TSE:SII), March 2nd, 2018, Earnings Call
Peter F. Grosskopf, Chief Executive
Like everyone else, we’ve watched the rise of cryptocurrency and sympathize with the desire of their users to seek alternatives to central bank controlled currencies. We have to admit that we are skeptical of the long-term viability of most cryptocurrencies, which have at best confusing claims to underlying value. However, we’re convinced that the underlying blockchain technology is ideally suited to the digitization of the physical gold market, and that this conversion will be the single most important event happening to the gold universe in decades.
One way we’ve chosen to participate in this digitization is through our investment in TradeWind. TradeWind is a fintech company launching a new digital gold platform, which combines the exchange technology of the IEX Group with the tailor blockchain application offering secure physical vaulting with significant advances in trading, settlement, and ownership of physical gold. TradeWind is now in the process of the commercial launch. We also expect to participate directly in the distribution of digital gold to our clients in an effort to generate a profitable activity for Sprott.