Kavan Ratnatunga passed along articles and a video about a new gold product issued by the Central Bank of Uzbekistan.
Since November 2020, the central bank of Uzbekistan (CBU) issues sealed gold bars with a QR-code for real time verification. With these new bars CBU aims to stimulate gold to be used as a store of value, as well as promote the circulation of gold.
The new gold bars issued by CBU have a special protective packaging, which includes three security layers: a unique serial number, a QR-code for real time digital authenticity verification, and a membrane that changes color when broken.
The gold bars are 999.9 fine, available in weights of 5, 10, 20 and 50 grams, and their packages all have the size of payments cards. The gold bars are sold through twenty-eight commercial bank offices throughout the country. At any point in time the bars can be sold back to the dealing banks, even if the seal is broken. Navoi Mining and Metallurgical Combinat (NMMC), an LBMA accredited refinery, is responsible for sourcing the gold, and the packaging technology was developed in cooperation with Certiline.
Previously, CBU only sold commemorative gold coins of one troy ounce. But one troy ounce of gold is worth a fortune for an average citizen in Uzbekistan. Through the new bars in small weights, and the buyback guarantee, CBU aims to make gold accessible to more people as a savings instrument and for large payments.
"When will the USA follow with a real non-fiat currency?"
To watch a YouTube video, see:
To read the complete articles, see:
CENTRAL BANK OF UZBEKISTAN INTRODUCES PARALLEL CURRENCY: GOLD
Central Bank launches sale of gold measured bars
Wayne Homren, Editor
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