Hubert Jacob Henry Schiff Explores the Future of Gold-Backed Cryptocurrencies
Brief Summary:
Gold vs. Crypto: A Candid Conversation with Hubert Jacob Henry Schiff
In this episode, we sit down with Hubert Jacob Henry Schiff from the SCHIFF Investment Group, live from Dubai during the Crypto New Zealand x Global Blockchain Show collaboration. Hubert brought an unfiltered perspective to the current crypto landscape. He spoke on mistrusting centralized exchanges and his effort to introduce a gold-backed stablecoin as a genuine alternative to unstable digital assets.
Being a precious metals trader at heart, he criticized the meme-coin culture, pump-and-dump scams, and superficial innovations within the blockchain sphere. He wants to restore trust anchored in real assets, specifically gold-backed currencies powered through blockchain.
- Gold Still Wins – Hubert is strongly constructing the stance that gold is better than crypto, if not essential to it, as gold is in the hardware enabling digital currencies.
- A Gold-Backed Stablecoin Vision: –The SCHIFF Investment Group is working on a synthetic Dirham backed by gold, as a means towards the goal of bringing long-term stability and transparency to digital payment solutions.
- Distrust in Major Exchanges – Upon reflection, it’s clear that exchanges like Coinbase, Binance, and KuCoin are prone to criticism for centralization, employee dissatisfaction, and compliance irregularities. On the other hand, Bybit has the thumbs-up from Hubert for its people-centric approach.
- Disdain for Meme Culture – The emergence of meme coins and sham projects is viewed as a symptom of speculative gambling, rather than that of innovation.
- The Dark Side of Market Makers: – Hubert exposes how some market makers facilitate manipulation, working hand in hand to set up pump and dump scams behind the curtains.
- Call for Real Change: –Instead of chasing profits, Hubert wants to build real financial tools that have real utility and are backed by tangible value.
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