Swiss-based fund Tiberius to Launch Metals-backed Coin

The Tiberius coin will be backed by industrial metals stored in London Metal Exchange warehouses and precious metals held at selected refineries
23 January 2018   416

Swiss-based commodities fund Tiberius Group announced its plans to launch cryptocurrency the Tiberius coin, or tcoin, underpinned by physically deliverable metals including industrials such as aluminum and copper in July, its co-founder and chief executive Christoph Eibl said.

The coin will be backed by industrial metals stored in London Metal Exchange warehouses and precious metals held at selected refineries and will, like most other cryptocurrencies, be run on a blockchain platform, said Eibl.

We want to propose the idea of a cryptocurrency with real tangible net worth.

 

Christoph Eibl
Co-founder and chief executive, Tiberius Group

Some experts believe that the tcoin may have a higher chance of success than previous digital coin offerings which have struggled to take off because Tiberius is an established player in the metals' industry.

Tiberius plans to register its currency with regulators, first in Switzerland and then more widely, in an effort to minimize the risk of shutdown or restriction by authorities.

More coins backed by either a single metal or a combination could be launched at a later date, Eibl said.

However, Tiberius coin will not be the first cryptocurrency underpinned by assets. Gold-backed currencies such as DigixGlobal in Singapore and Goldmint in Russia are already in place. Others backed by real estate and diamonds are in development and Venezuela plans a cryptocurrency backed by oil, gas, gold and diamond reserves.

Swansea Hosts Blockchain and Distributed Energy Conference

The BEW'18, which will be held on February 19, 2018 in Swansea, UK, is a must-attend for people who are interested in the cutting edge of blockchain
19 February 2018   239

The Blockchain Energy Wales'18 Conference will be held on February 19, 2018 in Swansea, United Kingdom.

The conference will introduce Klenergy and their Pylon Network, which is a decentralised energy exchange platform powered by renewable energy. The BEW'18 is a must-attend for people who are interested in the cutting edge of blockchain, distributed energy, peer2peer and smart technology.

BEW conference location swanseaBEW'18 Exact Location

Location: TechHub Swansea, 221 Stryd Fawr, Swansea SA1 1NW, UK
Time: from 9AM to 1.30PM

The headline speakers include Paul Harwood, Basicincome supporter and advocate, and David Clubb, director of RUKCymru and head of digital RenewableUK.

The agenda of the conference is as follows: Blockchain technology and its application in the energy sector, future of blockchain wallet systems, buildings as power stations, building the open-source co-operation protocol for the energy sector, and more.