Karim Raffa: Gold for the 21st Century

• Palisades Gold Radio
  Tom welcomes Karim Raffa Chief Operating Officer of Cache Gold to the show. To subscribe to our newsletter and get notified of new shows, please visit http://palisadesradio.ca
  –
  Karim discusses his background in Fintech and blockchain technologies and what led him to begin working with Gregor Gregersen based in Singapore. Cache Gold is a digital asset-backed token where every unit is backed by one gram of pure physical gold. The purpose of Cache is to simply enable conversion and redemption of gold to tokens and back. Holders of cache gold can redeem these tokens and exchange them freely with others just like other ERC-20 tokens. Various exchanges and bullion dealers around the world accept Cache Gold. They chose the Ethereum blockchain for its versatility and ability to create custom digital contracts. They utilize an public event-based explorer that records the history of every gold bar in their vaults.
  –
  They track all activities of the gold including its location, purity, weight, history along with a photograph of each vault parcel. He discusses how Tether is supposed to operate and compares it with Cache. Cache is completely transparent and auditable unlike questionable services and stablecoins like Tether. He explains their fee structures for using the platform and how those are automated. If you want exposure to physical gold without being concerned about storing and acquiring the physical product then CGT may be an excellent method. They plan to add silver, nickel, and cobalt in the future to their platform. They are considering an NFT version of their tokens leveraging the digital receipts of actual physical bars in the vault. Time Stamp References:
  –
  0:00 – Introduction
  0:32 – His Background
  2:31 – What is Cache
  3:23 – Redeeming Cache
  4:13 – Why Use Blockchain
  6:54 – Cache Explorer
  10:18 – Physical Deposits
  11:46 – Storage and Fees
  14:15 – Transferring Cache
  16:28 – Cache Comparisons
  18:15 – Fungible Gold Receipt
  20:10 – Redeemable & Portable
  21:02 – Issuance of Cache
  23:34 – Tracking Gold
  24:56 – Fiat Exchange
  27:20 – Singapore Jurisdiction
  27:51 – Future Goals & NFTs
  30:13 – Wrap Up
  –
  Talking Points From This Episode
  – His background and how he became COO of Cache Gold
  – Purpose of Cache Gold and it’s versatility.
  – Transparency and details about the token and block explorer.
  – Fees, Jurisdiction and the future plans for Cache.

end