Hi Gareth,

I haven't specifically heard of PAXG being used. As I understand, there are local gold shares/certificates/derivatives that are provided by fintechs - non blockchain.

BTW, these are just anecdotes here - so definitely painting an incomplete picture. For example I know US dollars are used in Turkey as a way avoid Lira inflation.

Regarding an inflation resistant currency - one approach would be to issue a currency that is backed by and/or pegged to TIPS or Linkers. That means pegging to the government definition of inflation. If one tries to define inflation differently, then the implied interest rate on that currency will come into a complex equilibrium with other assets/currencies on the market. In other words, creating an inflation resistant currency (that differs from government inflation protected securities) is not a free lunch. [not sure if that's adding to your point re Dalio]

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Do they use PAXG to pay for stuff in gold in Turkey or is it a different method? Would be interesting to know which is more efficient. I know AVAX is big there. PAXG payments on AVAX rails probably not the worst idea. Gold buying big in India as well, plus Ray Dalio wanting an inflation resistant currency; seems plenty of reason for crypto (PAXG, stablecoins).

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