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Salt Lake City—Las Vegas-based Financial technology company Anthem Vault recently launched HayekGold (the 'hayek'), a digital token that enables more people to own and spend gold. Each hayek represents 1 gram of gold stored in the secure, world-class vaulting facility in Salt Lake City, and will be purchased at the market value at the time of the transaction.
Inspired by Nobel Prize winning Austrian economic author and academic thought leader, Friedrich A. Hayek—a household name in the world of free market economics—HayekGold simplifies gold into a digitized asset that's easy to manage in a global market. The digital asset can help gold owners move their gold more fluidly, while also minimizing transfer costs.
"We use the latest, most secure technology—the Bitcoin block chain—that fuels hundreds of other crypto-related platforms," said Anthem Vault founder and CEO Anthem Blanchard.
"The hayek coalesces the most trusted store of value in history, gold, with the world's most secure exchange network, Bitcoin. Gold is hardly volatile and can help create a more anchored currency and savings plan."
All gold stored at Anthem Vault facilities is refined at LBMA-approved refineries and bought from commercial bullion dealers. Anthem Vault stores 1 kilogram bars of gold and silver that customers can purchase via www.anthemvault.com. Customers are welcome to visit the secure facilities in Salt Lake City and full audits are conducted annually.
The son of legendary activist James U. Blanchard III, who helped restore Americans' right to own gold bullion, Anthem Blanchard has been a lifelong advocate of decentralized sound money.
Individuals or entities who buy HayekGold simply open an account at Anthem Vault and buy gold, with a minimum $25 purchase. They then have the option to transfer their gold to a "wallet" where they can easily send the hayeks to a friend, relative, vendor or creditor. Ultimately, a debit card will allow in-person retail spending.
Last summer, Anthem Vault launched the IndependenceCoin as a prototype precursor to the hayek, with 10 million digital coins backed by 100 grams of gold. All coins are expected to be mined by the July anniversary.