Tiberius Group AG which is a Swiss based Asset management group will launch cryptocurrencies backed by a basket of commodities such as aluminium, copper,nickel, cobalt,tin, gold and platinum.

Tiberious Group AG is experienced in the commoditions trade ever since 2015 which will make the cryptocurrency called Tiberius Coin pretty interesting. The new form of cryptocurrencies are all seeming to be backed by commodities. For example Ongram being backed by gold thus being halal certified for the Muslim investors along with the Petro backed by oil to help theVenezuelan government.

A basket of commodities will be much safer than backing it with a single commodity, as it spreads risk and makes the cryptocurrency less volatile.

Giuseppe Rapallo, CEO of Tiberius explained the diversification of commodity backing,

“Instead of underlying the digital currency with only one commodity, we have chosen a mix of technology metals, stability metals and electric vehicle metals. This will give the coin diversification, making it more stable and attractive for investors.”

The Tiberius Coin will first be on Estonia’s cryptocurrency exchange called LATOKEN. It will also be able to be converted back into commodities, which makes it even more interesting as it’s a commodity backed token.

The only question of the matter is if the target investors which are commodities traders will shift from their commodity trading to a more digital asset like cryptocurrencies.

Tiberius manages in total $350 million worth of assets for clients, and it’s chief scientist and security officer, Philip Zimmermann is popularily known in the IT space for his creation Pretty Good Privacy (PGP)

With Tiberius Coin, you will basically be able to buy items such as food for metals as the metal is the asset backing Tiberius Coin. It brings back the traditional system of barter to the digital age.

Gold was backed a while ago with platforms like E-Gold in 1995 thanks to the internet. It however did not succeed, but with Blockchain gold and other commodities being used in a digital platform is looking positive.

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