{"id":120162,"date":"2026-11-04T00:11:31","date_gmt":"2026-11-03T23:11:31","guid":{"rendered":"https:\/\/www.infokuryr.cz\/n\/?p=120162"},"modified":"2026-11-03T12:28:12","modified_gmt":"2026-11-03T11:28:12","slug":"centralni-banky-a-obchodnici-s-drahymi-kovy-stale-vice-prosazuji-tokenizovane-zlato-dalsi-pokus-o-privlastneni-si-vaseho-bohatstvi","status":"publish","type":"post","link":"https:\/\/www.infokuryr.cz\/n\/2026\/11\/04\/centralni-banky-a-obchodnici-s-drahymi-kovy-stale-vice-prosazuji-tokenizovane-zlato-dalsi-pokus-o-privlastneni-si-vaseho-bohatstvi\/","title":{"rendered":"Centr\u00e1ln\u00ed banky a obchodn\u00edci s drah\u00fdmi kovy st\u00e1le v\u00edce prosazuj\u00ed tokenizovan\u00e9 zlato \u2013 dal\u0161\u00ed pokus o p\u0159ivlastn\u011bn\u00ed si va\u0161eho bohatstv\u00ed"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n<div class=\"elementor-element elementor-element-1fb4c2c elementor-widget elementor-widget-theme-post-content\" data-id=\"1fb4c2c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"theme-post-content.default\">\n<div class=\"elementor-widget-container\">\n<p class=\"wp-block-paragraph\"><strong><span dir=\"auto\">\u201eJakmile bude datab\u00e1ze v\u0161udyp\u0159\u00edtomn\u00e1, bude ji pou\u017e\u00edvat ka\u017ed\u00fd\u2026 Ka\u017ed\u00e1 zlat\u00e1 slitka bude m\u00edt nakonec sv\u016fj vlastn\u00ed pas, sv\u016fj vlastn\u00ed \u201arodn\u00fd list\u2018,\u201c vysv\u011btlila Sv\u011btov\u00e1 rada pro zlato.<\/span><\/strong><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Zat\u00edmco centr\u00e1ln\u00ed banky a glob\u00e1ln\u00ed instituce prosazuj\u00ed tokenizaci a digitalizaci v\u0161ech aktiv, tokenizovan\u00e9 reprezentace drah\u00fdch kov\u016f jsou st\u00e1le v\u00edce propagov\u00e1ny stejn\u00fdmi akt\u00e9ry i dal\u0161\u00edmi soukrom\u00fdmi obchodn\u00edky. Stejn\u011b jako u \u010dehokoli, co je tokenizov\u00e1no, je to zp\u016fsob, jak p\u0159ipravit \u010dlov\u011bka o skute\u010dn\u00e9 vlastnictv\u00ed aktiva.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Napsal jsem des\u00edtky \u010dl\u00e1nk\u016f o tokenizaci a s n\u00ed spojen\u00fdch nebezpe\u010d\u00edch. Jen pro kr\u00e1tkou p\u0159ipom\u00ednku, spolup\u0159edseda Sv\u011btov\u00e9ho ekonomick\u00e9ho f\u00f3ra a gener\u00e1ln\u00ed \u0159editel spole\u010dnosti BlackRock Larry Fink ve sv\u00e9m dopise investor\u016fm z roku 2025 napsal toto:<\/span><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">\u201eCo p\u0159esn\u011b je tokenizace? Zahrnuje p\u0159evod re\u00e1ln\u00fdch aktiv \u2013 akci\u00ed, dluhopis\u016f, nemovitost\u00ed \u2013 na digit\u00e1ln\u00ed tokeny, se kter\u00fdmi lze obchodovat online. Ka\u017ed\u00fd token potvrzuje va\u0161e vlastnictv\u00ed konkr\u00e9tn\u00edho aktiva, podobn\u011b jako digit\u00e1ln\u00ed listina. Na rozd\u00edl od tradi\u010dn\u00edch pap\u00edrov\u00fdch certifik\u00e1t\u016f jsou tyto tokeny bezpe\u010dn\u011b ulo\u017eeny na blockchainu. To umo\u017e\u0148uje jejich okam\u017eit\u00fd n\u00e1kup, prodej a p\u0159evod bez zdlouhav\u00e9ho pap\u00edrov\u00e1n\u00ed nebo \u010dekac\u00edch dob.\u201c<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">\u201eM\u016f\u017ee to demokratizovat p\u0159\u00edstup. Tokenizace umo\u017e\u0148uje \u010d\u00e1ste\u010dn\u00e9 vlastnictv\u00ed. To znamen\u00e1, \u017ee aktiva by mohla b\u00fdt rozd\u011blena na nekone\u010dn\u011b mal\u00e9 pod\u00edly. T\u00edm se sni\u017euje jedna z p\u0159ek\u00e1\u017eek investic do cenn\u00fdch, d\u0159\u00edve obt\u00ed\u017en\u011b dostupn\u00fdch aktiv, jako jsou soukrom\u00e9 nemovitosti a private equity.\u201c<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">BNY Mellon, jeden\u00e1ct\u00e1 nejv\u011bt\u0161\u00ed banka v USA z hlediska celkov\u00fdch aktiv, d\u00e1le stru\u010dn\u011b vysv\u011btluje, co tokenizace znamen\u00e1 a jak\u00e9 typy aktiv lze obecn\u011b tokenizovat:<\/span><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">Tokenizace aktiv zahrnuje digit\u00e1ln\u00ed reprezentaci re\u00e1ln\u00fdch, fyzick\u00fdch aktiv na distribuovan\u00fdch \u00fa\u010detn\u00edch knih\u00e1ch nebo vyd\u00e1v\u00e1n\u00ed tradi\u010dn\u00edch t\u0159\u00edd aktiv v tokenizovan\u00e9 form\u011b. V kontextu technologie blockchain se tokenizace vztahuje na proces p\u0159em\u011bny n\u011b\u010deho hodnotn\u00e9ho na digit\u00e1ln\u00ed token, kter\u00fd lze pou\u017e\u00edt v blockchainov\u00e9 aplikaci. Token p\u0159edstavuje pod\u00edl na vlastnictv\u00ed podkladov\u00e9ho aktiva.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">Tento proces lze pou\u017e\u00edt pro hmotn\u00fd majetek, jako je zlato, nemovitosti, dluhopisy, obligace a um\u011bleck\u00e1 d\u00edla, ale i pro ur\u010dit\u00e9 formy nehmotn\u00e9ho majetku, jako jsou vlastnick\u00e1 pr\u00e1va nebo licence k u\u017e\u00edv\u00e1n\u00ed obsahu. Je\u0161t\u011b zaj\u00edmav\u011bj\u0161\u00ed je, \u017ee tokenizace umo\u017e\u0148uje restrukturalizaci vlastnictv\u00ed, co\u017e umo\u017e\u0148uje rozd\u011blit tradi\u010dn\u011b ned\u011bliteln\u00e1 aktiva na zlomkov\u00e9 pod\u00edly ve form\u011b token\u016f.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Jak se \u0159\u00edk\u00e1: \u201eCo nedr\u017e\u00ed\u0161 v ruce, nen\u00ed to tvoje.\u201c Ale tokenizovan\u00e9 zlato, zaznamenan\u00e9, sledovan\u00e9 a digit\u00e1ln\u011b ulo\u017een\u00e9 na blockchainu a v digit\u00e1ln\u00ed pen\u011b\u017eence s identifika\u010dn\u00edm &#8230;<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Zat\u00edmco tokenizace aktiv, akci\u00ed, dluhopis\u016f a v\u0161eho ostatn\u00edho v mezin\u00e1rodn\u00edm m\u011b\u0159\u00edtku neust\u00e1le roste, postupuje i digitalizace drah\u00fdch kov\u016f.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">V \u010dervnu server The WinePress informoval, \u017ee trh s tokenizovan\u00fdmi aktivy z re\u00e1ln\u00e9ho sv\u011bta (RWA) jen v tomto roce explodoval o 600 procent. \u010c\u00e1st tohoto r\u016fstu byla p\u0159ips\u00e1na tokenizovan\u00e9mu zlatu.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Spole\u010dnosti a dal\u0161\u00ed organizace tak\u00e9 st\u00e1le \u010dast\u011bji nab\u00edzej\u00ed tokenizovan\u00e9 zlato.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">V z\u00e1\u0159\u00ed 2024 zve\u0159ejnila HSBC v\u00fdsledky \u00fasp\u011b\u0161n\u00fdch test\u016f se zlat\u00fdmi tokeny chr\u00e1n\u011bn\u00fdmi kvantov\u011b bezpe\u010dn\u00fdmi technologiemi. Lond\u00fdnsk\u00e1 banka v \u00favodu sv\u00e9 zpr\u00e1vy uvedla:<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u201eHSBC je v \u010dele t\u00e9to revoluce a byla prvn\u00ed glob\u00e1ln\u00ed bankou, kter\u00e1 nab\u00eddla institucion\u00e1ln\u00edm investor\u016fm tokenizovan\u00e9 fyzick\u00e9 zlato pomoc\u00ed technologie distribuovan\u00e9 \u00fa\u010detn\u00ed knihy (DLT). Krom\u011b toho banka spustila zlat\u00fd token HSBC pro drobn\u00e9 investory ve zvl\u00e1\u0161tn\u00ed administrativn\u00ed oblasti Hongkong, zalo\u017een\u00fd na jej\u00ed platform\u011b digit\u00e1ln\u00edch aktiv Orion.\u201c<\/span><\/p>\n<p class=\"wp-block-paragraph\"><strong><span dir=\"auto\">Pokra\u010dovalo to:<\/span><\/strong><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u201eVzhledem k potenci\u00e1ln\u00edm kybernetick\u00fdm hrozb\u00e1m vypl\u00fdvaj\u00edc\u00edm z v\u00fdvoje v\u00fdkonn\u00fdch kvantov\u00fdch po\u010d\u00edta\u010d\u016f zkoum\u00e1 HSBC zp\u016fsoby, jak zajistit budoucnost sv\u00fdch technologick\u00fdch syst\u00e9m\u016f pomoc\u00ed kvantov\u011b bezpe\u010dn\u00fdch technologi\u00ed. Tento p\u0159\u00edstup si klade za c\u00edl chr\u00e1nit kryptografick\u00e9 syst\u00e9my, na kter\u00fdch je zalo\u017eena tokenizace aktiv, a t\u00edm sn\u00ed\u017eit riziko ohro\u017een\u00ed bezpe\u010dnosti a integrity tokenizovan\u00fdch aktiv.\u201c<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u201eV\u00fdznamn\u00fdm miln\u00edkem je, \u017ee HSBC ve spolupr\u00e1ci se spole\u010dnost\u00ed Quantinuum \u00fasp\u011b\u0161n\u011b otestovala prvn\u00ed aplikaci kvantov\u011b bezpe\u010dn\u00e9 technologie pro p\u0159evod tokenizovan\u00e9ho fyzick\u00e9ho zlata. Jedn\u00e1 se o nejnov\u011bj\u0161\u00ed krok v \u00fasil\u00ed HSBC o ochranu kritick\u00fdch aplikac\u00ed p\u0159ed budouc\u00edmi \u00fatoky kvantov\u00fdch po\u010d\u00edta\u010d\u016f,\u201c napsali auto\u0159i.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Podobnou metodu zkoum\u00e1 i Banka pro mezin\u00e1rodn\u00ed platby (BIS). Za\u010d\u00e1tkem leto\u0161n\u00edho roku spustila za t\u00edmto \u00fa\u010delem projekt Leap. Podporuje ho Eurosyst\u00e9mov\u00e9 centrum BIS Innovation Hub, d\u00e1le Banque de France a Deutsche Bundesbank. Projekt si klade za c\u00edl \u201ep\u0159ipravit centr\u00e1ln\u00ed banky a glob\u00e1ln\u00ed finan\u010dn\u00ed syst\u00e9m na p\u0159echod na kvantov\u011b odoln\u00e9 \u0161ifrov\u00e1n\u00ed\u201c.<\/span><\/p>\n<figure class=\"wp-block-embed aligncenter is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\"><iframe loading=\"lazy\" title=\"Projekt Leap: Kvantov\u00e9 zabezpe\u010den\u00ed finan\u010dn\u00edho syst\u00e9mu\" src=\"https:\/\/www.youtube.com\/embed\/XQXsI75YnAI?feature=oembed\" width=\"800\" height=\"450\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/figure>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Spole\u010dnost Digital Asset, nejv\u011bt\u0161\u00ed sv\u011btov\u00fd ekosyst\u00e9m pro re\u00e1ln\u00e1 aktiva, d\u00e1le v \u0159\u00edjnu 2024 dokon\u010dila testovac\u00ed program tokenizace na z\u00e1klad\u011b sv\u00e9 distribuovan\u00e9 s\u00edt\u011b \u00fa\u010detn\u00edch knih Canton Network. Do t\u011bchto test\u016f se zapojily organizace Euroclear, Sv\u011btov\u00e1 rada pro zlato (WGC) a 27 dal\u0161\u00edch \u00fa\u010dastn\u00edk\u016f trhu.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">C\u00edlem bylo vytvo\u0159it digit\u00e1ln\u00ed dvoj\u010data zlata, britsk\u00fdch st\u00e1tn\u00edch dluhopis\u016f (gilts) a eurobond\u016f a prozkoumat, jak tokenizovan\u00e1 aktiva mohou zlep\u0161it p\u0159evoditelnost kolater\u00e1lu, zv\u00fd\u0161it likviditu a zefektivnit transakce.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Kelly Mathiesonov\u00e1, \u0159editelka pro rozvoj obchodu ve spole\u010dnosti Digital Asset, vysv\u011btlila:<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u201eBylo tak\u00e9 prok\u00e1z\u00e1no, jak m\u016f\u017ee hlavn\u00ed \u00fa\u010detn\u00ed kniha slou\u017eit jako pr\u00e1vn\u011b autoritativn\u00ed registr. D\u00e1le bylo potvrzeno, \u017ee zaji\u0161t\u011bn\u00e1 strana si v p\u0159\u00edpad\u011b selh\u00e1n\u00ed protistrany ponech\u00e1v\u00e1 kontrolu nad digit\u00e1ln\u00edm dvoj\u010detem a re\u00e1ln\u00fdmi aktivy p\u0159ijat\u00fdmi jako z\u00e1loha nebo zaji\u0161t\u011bn\u00ed.\u201c<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Mike Oswin, glob\u00e1ln\u00ed vedouc\u00ed odd\u011blen\u00ed tr\u017en\u00ed struktury a inovac\u00ed ve Sv\u011btov\u00e9 rad\u011b pro zlato, uvedl:<\/span><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">\u201eDigitalizac\u00ed zlata m\u016f\u017eeme p\u0159ekonat vn\u00edman\u00e1 omezen\u00ed spojen\u00e1 s p\u0159epravou a skladov\u00e1n\u00edm fyzick\u00e9ho kovu. To n\u00e1m umo\u017e\u0148uje mobilizovat toto vysoce hodnotn\u00e9 aktivum a vyu\u017e\u00edvat ho na finan\u010dn\u00edch trz\u00edch.\u201c<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">Aby toho bylo dosa\u017eeno, mus\u00ed b\u00fdt proces tokenizace schopen definovat tzv. standardn\u00ed zlatou jednotku (SGU), kter\u00e1 p\u0159edstavuje a p\u0159ev\u00e1d\u00ed pen\u011b\u017en\u00ed hodnotu dohodnut\u00e9ho mno\u017estv\u00ed ryz\u00edho zlata. Lze vytvo\u0159it dal\u0161\u00ed token: datovou sadu se specifick\u00fdmi atributy obsahuj\u00edc\u00ed informace o zlat\u00fdch slitc\u00edch dr\u017een\u00fdch jako kolater\u00e1l v r\u00e1mci ekosyst\u00e9mu. To by umo\u017enilo pou\u017e\u00edt jak\u00e9koli fyzick\u00e9 zlato, jeho\u017e integrita je pova\u017eov\u00e1na za d\u016fv\u011bryhodnou, jako finan\u010dn\u00ed zaji\u0161t\u011bn\u00ed \u2013 bez ohledu na jeho fyzick\u00e9 vlastnosti nebo um\u00edst\u011bn\u00ed.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Jak uvedl den\u00edk Financial Times, tat\u00e1\u017e Sv\u011btov\u00e1 rada pro zlato (WGC) znovu potvrdila sv\u016fj z\u00e1vazek k realizaci tohoto projektu loni v z\u00e1\u0159\u00ed.<\/span><\/p>\n<figure class=\"wp-block-image aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter\" src=\"https:\/\/substackcdn.com\/image\/fetch\/$s_!-W8x!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffa8fdb48-034a-4461-a3b7-44fd918b0b89_1038x942.png\" alt=\"\" width=\"500\" height=\"454\" \/><\/figure>\n<p class=\"wp-block-paragraph\"><strong><span dir=\"auto\">Noviny napsaly (\u00faryvky):<\/span><\/strong><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">Tento nov\u00fd form\u00e1t by poprv\u00e9 umo\u017enil \u201edigit\u00e1ln\u011b p\u0159ev\u00e1d\u011bt zlato v r\u00e1mci cel\u00e9ho zlat\u00e9ho ekosyst\u00e9mu, nap\u0159\u00edklad jako z\u00e1stavu,\u201c vysv\u011btlil v rozhovoru pro Financial Times David Tait, gener\u00e1ln\u00ed \u0159editel Sv\u011btov\u00e9 rady pro zlato, oborov\u00e9 organizace zastupuj\u00edc\u00ed spole\u010dnosti t\u011b\u017e\u00edc\u00ed zlato.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">\u201eSna\u017e\u00edme se standardizovat tuto digit\u00e1ln\u00ed vrstvu zlata, aby v budoucnu mohly b\u00fdt r\u016fzn\u00e9 finan\u010dn\u00ed produkty pou\u017e\u00edvan\u00e9 na jin\u00fdch trz\u00edch pou\u017eity i na trhu se zlatem,\u201c \u0159ekl Tait, b\u00fdval\u00fd bank\u00e9\u0159. \u201eM\u00fdm c\u00edlem je, aby se mnoho spr\u00e1vc\u016f aktiv po cel\u00e9m sv\u011bt\u011b najednou d\u00edvalo na zlato jin\u00fdm pohledem,\u201c dodal.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">\u201eZ hlediska zaji\u0161t\u011bn\u00ed to bude pro banky velmi finan\u010dn\u011b v\u00fdhodn\u00e9, proto\u017ee budou m\u00edt mo\u017enost pou\u017e\u00edt zlato ve sv\u00fdch rozvah\u00e1ch jako zaji\u0161t\u011bn\u00ed,\u201c \u0159ekl Tait.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">Nov\u00e1 digit\u00e1ln\u00ed jednotka, zn\u00e1m\u00e1 jako \u201ePooled Gold Interests\u201c (PGI), umo\u017en\u00ed bank\u00e1m a investor\u016fm nakupovat a prod\u00e1vat \u010d\u00e1ste\u010dn\u00e9 vlastnictv\u00ed fyzick\u00e9ho zlata dr\u017een\u00e9ho na odd\u011blen\u00fdch \u00fa\u010dtech. Syst\u00e9m by m\u011bl b\u00fdt pilotn\u011b otestov\u00e1n v Lond\u00fdn\u011b s komer\u010dn\u00edmi \u00fa\u010dastn\u00edky trhu v prvn\u00edm \u010dtvrtlet\u00ed p\u0159\u00ed\u0161t\u00edho roku.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">Koncept je zalo\u017een na mal\u00e9 skupin\u011b centr\u00e1ln\u00edch \u00fa\u010dastn\u00edk\u016f, kte\u0159\u00ed spole\u010dn\u011b vlastn\u00ed podkladov\u00e9 zlato v r\u00e1mci sv\u011b\u0159eneck\u00e9 struktury. Vypl\u00fdv\u00e1 to z dokumentu, kter\u00fd ve st\u0159edu zve\u0159ejnila Sv\u011btov\u00e1 rada pro zlato (WGC) a advok\u00e1tn\u00ed kancel\u00e1\u0159 Linklaters. Jde o nejnov\u011bj\u0161\u00ed krok v r\u00e1mci v\u00edcelet\u00e9ho projektu WGC na digitalizaci trhu se zlatem. Ji\u017e d\u0159\u00edve, v lednu, byla zavedena blockchainov\u00e1 datab\u00e1ze pro rafinerie a zlat\u00e9 slitky.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">Na lond\u00fdnsk\u00e9m trhu se zlatem existuj\u00ed dva typy transakc\u00ed: \u201eAlokovan\u00e9 zlato\u201c ozna\u010duje zlato, kter\u00e9 je v\u00e1z\u00e1no na konkr\u00e9tn\u00ed zlatou slitku. \u201eNealokovan\u00e9 zlato\u201c naopak zakl\u00e1d\u00e1 n\u00e1rok na ur\u010dit\u00e9 mno\u017estv\u00ed zlata bez specifikace konkr\u00e9tn\u00ed slitky. Podle B\u00edl\u00e9 knihy by n\u00e1vrh WGC vytvo\u0159il t\u0159et\u00ed typ transakce pro mimoburzovn\u00ed (OTC) obchodov\u00e1n\u00ed se zlatem v Lond\u00fdn\u011b.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">\u201eC\u00edlem datab\u00e1ze je zv\u00fd\u0161it transparentnost v rafineri\u00edch, ov\u011b\u0159it p\u016fvod zlata a nakonec eliminovat jak\u00e9koli \u201enekal\u00e9 praktiky,\u201c vysv\u011btlil Tait. \u201eOb\u010das to byl obt\u00ed\u017en\u00fd proces,\u201c \u0159ekl. P\u0159esto si je i nad\u00e1le jist\u00fd, \u017ee datab\u00e1ze by jednoho dne mohla zm\u011bnit zp\u016fsob, jak\u00fdm se zlato z\u00edsk\u00e1v\u00e1.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">\u201eJakmile bude datab\u00e1ze v\u0161udyp\u0159\u00edtomn\u00e1, bude ji pou\u017e\u00edvat ka\u017ed\u00fd\u2026 Ka\u017ed\u00e1 zlat\u00e1 slitka bude m\u00edt nakonec sv\u016fj vlastn\u00ed pas, sv\u016fj vlastn\u00ed \u201arodn\u00fd list\u2018,\u201c dodal Tait.<\/span><\/em><\/p>\n<figure class=\"wp-block-image aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter\" src=\"https:\/\/substackcdn.com\/image\/fetch\/$s_!mBne!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fcc9e4bfc-676d-4c59-bb73-6e33cc0904c2_1023x668.png\" alt=\"\" width=\"546\" height=\"357\" \/><\/figure>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Taitova prohl\u00e1\u0161en\u00ed neomyln\u011b ukazuj\u00ed, o co v tokenizaci drah\u00fdch kov\u016f skute\u010dn\u011b jde. Odpov\u00eddaj\u00ed Finkov\u00fdm my\u0161lenk\u00e1m a jsou v souladu s modelem \u201estakeholderov\u00e9ho kapitalismu\u201c Sv\u011btov\u00e9ho ekonomick\u00e9ho f\u00f3ra (WEF), kter\u00fd je zalo\u017een na spole\u010dn\u00e9 \u00fa\u010dasti ve\u0159ejn\u00e9ho a soukrom\u00e9ho sektoru.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Centr\u00e1ln\u00ed banky se nevr\u00e1t\u00ed k m\u011bnov\u00e9mu syst\u00e9mu kryt\u00e9mu zlatem. Je mi l\u00edto, ale to se nestane \u2013 alespo\u0148 ne v konven\u010dn\u00ed podob\u011b, jak v\u00e1s \u010detn\u00ed investo\u0159i a spekulanti na internetu cht\u011bj\u00ed p\u0159esv\u011bd\u010dit. Pokud by se zlato hypoteticky op\u011bt stalo rezervn\u00edm aktivem a m\u011bny by byly kryty zlatem, bylo by tokenizov\u00e1no a pou\u017e\u00edv\u00e1no jako jak\u00fdsi kolateralizovan\u00fd ETF. P\u0159esn\u011b to Larry Fink ji\u017e ozn\u00e1mil.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u201eV\u0161echno bude p\u0159evedeno na ETF [\u2026] ETF jsou prvn\u00edm krokem v technologick\u00e9 revoluci finan\u010dn\u00edch trh\u016f. Druh\u00fdm krokem bude tokenizace v\u0161ech finan\u010dn\u00edch aktiv.\u201c<\/span><\/p>\n<figure class=\"wp-block-embed aligncenter is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\"><iframe loading=\"lazy\" title=\"Fink vid\u00ed tokenizaci finan\u010dn\u00edch aktiv jako dal\u0161\u00ed krok\" src=\"https:\/\/www.youtube.com\/embed\/HTveRlW7QPo?feature=oembed\" width=\"800\" height=\"450\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/figure>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Spojen\u00e9 st\u00e1ty by samoz\u0159ejm\u011b mohly takov\u00fd model zav\u00e9st. Tato my\u0161lenka se alespo\u0148 objevila. V roce 2020, b\u011bhem Trumpova prvn\u00edho funk\u010dn\u00edho obdob\u00ed, nominoval Judy Sheltonovou na m\u00edsto v Rad\u011b guvern\u00e9r\u016f Feder\u00e1ln\u00edho rezervn\u00edho syst\u00e9mu. A\u010dkoli jej\u00ed nominace nakonec nepro\u0161la p\u0159\u00edslu\u0161n\u00fdm sen\u00e1tn\u00edm v\u00fdborem, Sheltonov\u00e1 ji\u017e v rozhovoru v roce 2019 nadnesla my\u0161lenku n\u00e1vratu ke zlat\u00e9mu standardu \u2013 by\u0165 v tokenizovan\u00e9 podob\u011b.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">\u201eL\u00edb\u00ed se mi my\u0161lenka m\u011bny kryt\u00e9 zlatem. Mohla by b\u00fdt dokonce implementov\u00e1na podobn\u00fdm zp\u016fsobem jako kryptom\u011bna. Jednotn\u00fd m\u011bnov\u00fd syst\u00e9m, aby pro v\u0161echny na mezin\u00e1rodn\u00edm trhu platily stejn\u00e9 m\u011bnov\u00e9 podm\u00ednky.\u201c<\/span><\/em><\/p>\n<figure class=\"wp-block-embed aligncenter is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\"><iframe loading=\"lazy\" title=\"N\u00e1vrat k m\u011bn\u011b zaji\u0161t\u011bn\u00e9 zlatem, zp\u016fsobem podobn\u00fdm kryptom\u011bn\u00e1m, od Judy Sheltonov\u00e9\" src=\"https:\/\/www.youtube.com\/embed\/rGMcl6ZGQHg?feature=oembed\" width=\"800\" height=\"450\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/figure>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">M\u00edn\u00ed na mysli tokenizovan\u00e9 zlato a jej\u00ed argumentace je v souladu s t\u00edm, co navrhuje Sv\u011btov\u00e1 rada pro zlato (WGC) a Larry Fink.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">D\u00e1le se Shelton v rozhovoru s Andym Schectmanem, majitelem spole\u010dnosti Miles Franklin, obchodn\u00edka s investi\u010dn\u00edmi slitky a drah\u00fdmi kovy, v roce 2025 vyslovil ve prosp\u011bch blockchainu a technologie distribuovan\u00e9 \u00fa\u010detn\u00ed knihy (DLT).<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u201eOce\u0148uji v\u00fdhody, kter\u00e9 technologie blockchain a technologie distribuovan\u00e9 \u00fa\u010detn\u00ed knihy (DLT) nab\u00edzej\u00ed spot\u0159ebitel\u016fm. Rozhodn\u011b chceme t\u011bchto v\u00fdhod vyu\u017e\u00edt.\u201c<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">D\u00e1le se tak\u00e9 zasazovala o dluhopisy zaji\u0161t\u011bn\u00e9 zlatem a stablecoiny.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u201eNechme zlato jako z\u00e1kladn\u00ed k\u00e1men a vytvo\u0159me dluhopis kryt\u00fd zlatem. K dal\u0161\u00edmu rozvoji tohoto konceptu bychom pak mohli vyu\u017e\u00edt kryptom\u011bny. Mohli bychom zav\u00e9st stablecoiny kryt\u00e9 dluhopisy americk\u00e9ho ministerstva financ\u00ed. T\u00edmto zp\u016fsobem bychom mohli spojit v\u00fdkonnost digit\u00e1ln\u00edch m\u011bn s my\u0161lenkou dolaru stejn\u011b dobr\u00e9ho jako zlato.\u201c<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Opravdu bych si p\u0159\u00e1l, aby se to stalo, a zaj\u00edmalo by m\u011b, jak by si takov\u00fd model vedl v konkurenci se stablecoiny kryt\u00fdmi americk\u00fdmi st\u00e1tn\u00edmi dluhopisy nebo dokonce \u010dist\u011b dolarov\u00fdmi rezervami. To by mohlo b\u00fdt zaj\u00edmav\u00e9. V ka\u017ed\u00e9m p\u0159\u00edpad\u011b jsem pro pou\u017eit\u00ed zlata jako kryt\u00ed pro dluhopis kryt\u00fd zlatem.<\/span><\/p>\n<figure class=\"wp-block-embed aligncenter is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\"><iframe loading=\"lazy\" title=\"Zakotveno ve zlat\u011b: Rozhovor s Dr. Judy Sheltonovou (Kr\u00e1tko po kousku)\" src=\"https:\/\/www.youtube.com\/embed\/Q04BjMEpZtA?feature=oembed\" width=\"800\" height=\"450\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/figure>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u201eNo&#8230; ano&#8230; hlavn\u00ed je, \u017ee podvodn\u00e9 sch\u00e9ma Fiat Ponzi se n\u011bjak\u00fdm zp\u016fsobem udr\u017euje p\u0159i \u017eivot\u011b&#8230;\u201c<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Je pozoruhodn\u00e9, \u017ee americk\u00fd ministr financ\u00ed Scott Bessent \u2013 \u200b\u200bs\u00e1m ni\u010ditel m\u011bny a stoupenec George Sorose \u2013 p\u0159ivedl Sheltona do t\u00fdmu jako poradce za\u010d\u00e1tkem tohoto m\u011bs\u00edce.<\/span><\/p>\n<figure class=\"wp-block-image aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter\" src=\"https:\/\/substackcdn.com\/image\/fetch\/$s_!sRcm!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep\/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0daacc53-cb5a-4c00-81b6-4c97b748df65_827x796.png\" alt=\"\" width=\"614\" height=\"591\" \/><figcaption class=\"wp-element-caption\"><a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/sb0654\" target=\"_blank\" rel=\"noopener\" data-type=\"link\" data-id=\"https:\/\/home.treasury.gov\/news\/press-releases\/sb0654\"><span dir=\"auto\">zdroj<\/span><\/a><\/figcaption><\/figure>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Existuje mnoho dal\u0161\u00edch ned\u00e1vn\u00fdch p\u0159\u00edklad\u016f tohoto procesu tokenizace zlata, a to jak komer\u010dn\u00edmi bankami, tak centr\u00e1ln\u00edmi bankami.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Ledger Insights v dubnu uvedl: \u201eOCBC, Lion Global a DigiFT spole\u010dn\u011b spou\u0161t\u011bj\u00ed tokenizovan\u00fd fond pro fyzick\u00e9 zlato.\u201c Zpravodajsk\u00fd port\u00e1l zam\u011b\u0159en\u00fd na kryptom\u011bny napsal:<\/span><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">OCBC, druh\u00e1 nejv\u011bt\u0161\u00ed singapursk\u00e1 banka, jej\u00ed divize spr\u00e1vy majetku Lion Global Investors a singapursk\u00e1 regulovan\u00e1 tokeniza\u010dn\u00ed spole\u010dnost DigiFT spustily zlat\u00fd token na ve\u0159ejn\u00fdch blockchainech. Tokeny GOLDX jsou nav\u00e1z\u00e1ny na singapursk\u00fd fond fyzick\u00e9ho zlata LionGlobal a jsou vyd\u00e1v\u00e1ny na platform\u00e1ch Ethereum i Solana.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">Podle OCBC se jedn\u00e1 o prvn\u00ed fond fyzick\u00e9ho zlata v jihov\u00fdchodn\u00ed Asii, kter\u00fd byl tokenizov\u00e1n na ve\u0159ejn\u00fdch blockchainech. Podkladov\u00fd fond je relativn\u011b nov\u00fd, ale vzhledem k geopolitick\u00fdm nejistot\u00e1m p\u0159il\u00e1kal od sv\u00e9ho spu\u0161t\u011bn\u00ed p\u0159ed \u010dty\u0159mi m\u011bs\u00edci investice ve v\u00fd\u0161i 669,4 milionu singapursk\u00fdch dolar\u016f (525,9 milionu americk\u00fdch dolar\u016f). Tokeny jsou ur\u010deny pro institucion\u00e1ln\u00ed a akreditovan\u00e9 investory. Schopnost vypo\u0159\u00e1d\u00e1vat transakce pomoc\u00ed stablecoin\u016f nebo fiat m\u011bny je tak\u00e9 \u010din\u00ed atraktivn\u00edmi pro investory Web3. To zahrnuje tokenizaci st\u00e1vaj\u00edc\u00ed t\u0159\u00eddy akci\u00ed fondu.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">\u201eZam\u011b\u0159ujeme se na propojen\u00ed tradi\u010dn\u00edho finan\u010dn\u00edho sv\u011bta s rozv\u00edjej\u00edc\u00edm se sv\u011btem decentralizovan\u00fdch financ\u00ed,\u201c vysv\u011btlil Kenneth Lai, vedouc\u00ed glob\u00e1ln\u00edch trh\u016f ve spole\u010dnosti OCBC, kter\u00e1 navrhla a strukturovala token GOLDX. \u201eP\u0159iveden\u00edm re\u00e1ln\u00fdch aktiv \u2013 jako v tomto p\u0159\u00edpad\u011b \u2013 do blockchainu chceme umo\u017enit investov\u00e1n\u00ed kapit\u00e1lu ze stablecoin\u016f do t\u011bchto aktiv a z\u00e1rove\u0148 zachovat standardy a ochrann\u00e1 opat\u0159en\u00ed, kter\u00e1 investo\u0159i o\u010dek\u00e1vaj\u00ed.\u201c<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Mezit\u00edm DBS, dal\u0161\u00ed komer\u010dn\u00ed banka se s\u00eddlem v Singapuru, v \u010dervnu ozn\u00e1mila pl\u00e1ny nab\u00eddnout sv\u00fdm z\u00e1kazn\u00edk\u016fm tokenizovan\u00e9 fyzick\u00e9 zlato. Takzvan\u00e9 tokeny DBS Physical Gold Tokens budou k dispozici maloobchodn\u00edm z\u00e1kazn\u00edk\u016fm prost\u0159ednictv\u00edm aplikace DBS digibank. Ka\u017ed\u00fd token je kryt jednou unci zlata, kterou DBS dr\u017e\u00ed v trezoru v Singapuru.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u201eZ\u00e1kazn\u00edci mohou obchodovat nep\u0159etr\u017eit\u011b, prov\u00e1d\u011bt transakce t\u00e9m\u011b\u0159 okam\u017eit\u011b prost\u0159ednictv\u00edm atomov\u00e9ho vypo\u0159\u00e1d\u00e1n\u00ed, nakupovat zlomkov\u00e9 zlato a vym\u011b\u0148ovat sv\u00e9 tokeny za fyzick\u00e9 zlato,\u201c uv\u00e1d\u00ed Ledger Insights. \u201eDBS bude zlato dr\u017eet sama a bude je pln\u011b tokenizovat, vyd\u00e1vat, distribuovat a spravovat intern\u011b.\u201c<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">V srpnu, podle zpr\u00e1vy ve Financial Times, britsk\u00fd \u00da\u0159ad pro finan\u010dn\u00ed etiku (FCA) zva\u017eoval mo\u017enost pou\u017eit\u00ed tokenizovan\u00e9ho zlata jako kolater\u00e1lu.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u201eBrit\u0161t\u00ed regul\u00e1to\u0159i p\u0159ipravuj\u00ed r\u00e1mec pro tokenizovan\u00e9 zlato. To je sou\u010d\u00e1st\u00ed jejich pl\u00e1n\u016f na urychlen\u00ed digitalizace finan\u010dn\u00edch trh\u016f a zaji\u0161t\u011bn\u00ed vedouc\u00ed pozice Lond\u00fdna v glob\u00e1ln\u00edm obchodu se zlat\u00fdmi slitky,\u201c napsal Financial Times.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Zpr\u00e1va dodala:<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u201eKonkuren\u010dn\u00ed tlak ze \u0160anghaje a Hongkongu je obrovsk\u00fd\u2026 \u0160anghaj se chce st\u00e1t glob\u00e1ln\u00edm velkoobchodn\u00edm centrem trhu se zlatem,\u201c vysv\u011btlila jedna z respondentek. Dodala, \u017ee pokud Lond\u00fdn nemodernizuje sv\u016fj trh se zlatem \u2013 nap\u0159\u00edklad prost\u0159ednictv\u00edm opat\u0159en\u00ed, jako je tokenizace \u2013 by se veden\u00ed mohla ujmout i jin\u00e1 obchodn\u00ed centra.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">A jeden nov\u011bj\u0161\u00ed p\u0159\u00edklad: V z\u00e1\u0159\u00ed se indick\u00e1 centr\u00e1ln\u00ed banka tak\u00e9 zam\u011b\u0159ila na tokenizaci zlata.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u201eV\u010dera jsme vedli n\u011bkolik diskus\u00ed. Jako dal\u0161\u00ed mo\u017en\u00fd n\u00e1vrh, kter\u00fd se v sou\u010dasn\u00e9 dob\u011b zkoum\u00e1, jsme zva\u017eovali tokenizaci zlata. St\u00e1vaj\u00edc\u00ed postupy p\u0159edstavuj\u00ed ur\u010dit\u00e9 v\u00fdzvy, kter\u00e9 by v\u0161ak mohly b\u00fdt p\u0159ekon\u00e1ny tokenizac\u00ed,\u201c vysv\u011btlil na Global Fintech Festu 2026 P. Vasudevan, v\u00fdkonn\u00fd \u0159editel Indick\u00e9 rezervn\u00ed banky.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Je zaj\u00edmav\u00e9, \u017ee jak informoval den\u00edk The WinePress, Bank of Canada v roce 2024 zve\u0159ejnila studii zab\u00fdvaj\u00edc\u00ed se pou\u017e\u00edv\u00e1n\u00edm digit\u00e1ln\u00edch m\u011bn centr\u00e1ln\u00edch bank (CBDC) jako hotovosti. V n\u00ed kanadsk\u00e1 centr\u00e1ln\u00ed banka u\u010dinila pozoruhodn\u00e9 prohl\u00e1\u0161en\u00ed: Pokud by se dostupnost hotovosti v budoucnu v\u00fdrazn\u011b sn\u00ed\u017eila, spot\u0159ebitel\u00e9 by m\u011bli jen m\u00e1lo alternativ. Bank of Canada vysv\u011btlila:<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u201eV budoucnosti bez ve\u0159ejn\u00fdch pen\u011bz pro ka\u017edodenn\u00ed platby budou moci bankovn\u00ed klienti vyb\u00edrat sv\u00e9 vklady ze sv\u00e9 banky pouze za \u00fa\u010delem p\u0159echodu na n\u00e1sleduj\u00edc\u00ed alternativy:\u201c<\/span><\/p>\n<ul>\n<li><span dir=\"auto\">Jin\u00e1 banka<\/span><\/li>\n<li><span dir=\"auto\">Jin\u00e9 finan\u010dn\u00ed investice (nap\u0159. akcie, podnikov\u00e9 dluhopisy nebo st\u00e1tn\u00ed dluhopisy)<\/span><\/li>\n<li><span dir=\"auto\">Suroviny (nap\u0159. zlato)<\/span><\/li>\n<li><span dir=\"auto\">Ciz\u00ed m\u011bny<\/span><\/li>\n<\/ul>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Kanadsk\u00e1 centr\u00e1ln\u00ed banka v\u0161ak uv\u00e1d\u00ed, \u017ee \u00fa\u010dinnost t\u011bchto aktiv m\u016f\u017ee b\u00fdt omezen\u00e1, nebo dokonce mohou b\u00fdt zcela nevhodn\u00e1.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">\u201eV p\u0159\u00edpad\u011b obecn\u00e9 finan\u010dn\u00ed krize by lid\u00e9 nep\u0159e\u0161li k jin\u00e9 bance. Jedin\u00fdmi atraktivn\u00edmi mo\u017enostmi, jak ochr\u00e1nit sv\u00e1 aktiva, by pro n\u011b byly st\u00e1tn\u00ed dluhopisy, zlato a ciz\u00ed m\u011bny.\u201c<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">Dluhopisy a zlato jsou v\u0161ak nelikvidn\u00ed a nelze je pou\u017e\u00edt p\u0159\u00edmo k n\u00e1kup\u016fm. Druh\u00e1 mo\u017enost nav\u00edc s sebou nese kurzov\u00e9 riziko, nemus\u00ed b\u00fdt akceptov\u00e1na pro dom\u00e1c\u00ed platby a p\u0159edstavuje bezprost\u0159edn\u00ed hrozbu pro m\u011bnovou suverenitu.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">V krizi mohou ve\u0159ejn\u00e9 pen\u00edze ur\u010den\u00e9 pro ka\u017edodenn\u00ed platby pomoci chr\u00e1nit m\u011bnovou suverenitu, proto\u017ee se jedn\u00e1 o bezpe\u010dn\u00fd a vysoce likvidn\u00ed platebn\u00ed prost\u0159edek.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Z\u00e1v\u011brem zpr\u00e1va Bank of Canada uv\u00e1d\u00ed: \u201eVzhledem k funkci, kterou ve\u0159ejn\u00e9 pen\u00edze pln\u00ed pro ka\u017edodenn\u00ed platby, je pravd\u011bpodobn\u00e9, \u017ee k udr\u017een\u00ed statu quo bude zapot\u0159eb\u00ed digit\u00e1ln\u00ed forma hotovosti \u2013 digit\u00e1ln\u00ed m\u011bna centr\u00e1ln\u00ed banky (CBDC).\u201c<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">A pr\u00e1v\u011b zde by mohlo p\u0159ij\u00edt na \u0159adu tokenizovan\u00e9 zlato. Konven\u010dn\u00ed formy zlata by pro tento \u00fa\u010del nebyly vhodn\u00e9, jak uzn\u00e1v\u00e1 i samotn\u00e1 Bank of Canada. Tokenizovan\u00e9 zlato by naopak mohlo slou\u017eit jako kolater\u00e1l.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">To n\u00e1s ale vrac\u00ed k faktu, \u017ee toto zlato by bylo mo\u017en\u00e9 sledovat, monitorovat a programovat. Jeho hodnota a pou\u017eitelnost by tak\u00e9 byly ovlivn\u011bny um\u011blou a sv\u00e9volnou manipulac\u00ed s cenami. A kone\u010dn\u011b, u takov\u00e9ho tokenizovan\u00e9ho aktiva by koncov\u00fd u\u017eivatel a spr\u00e1vce mohli automaticky ur\u010dovat, kdo k n\u011bmu m\u00e1 p\u0159\u00edstup.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Vra\u0165me se ke konceptu stablecoin\u016f: B\u00edl\u00fd d\u016fm za Trumpa v dokumentu z lo\u0148sk\u00e9ho roku \u2013 jak ji\u017e bylo zm\u00edn\u011bno v\u00fd\u0161e \u2013 vlastn\u00edmi slovy p\u0159ipustil, \u017ee stablecoin lze zru\u0161it.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">\u201e[Stablecoiny] by se v budoucnu mohly v\u00fdrazn\u011b roz\u0161\u00ed\u0159it jako platebn\u00ed prost\u0159edek. [\u2026] Zvl\u00e1\u0161tnost\u00ed stablecoin\u016f je, \u017ee jejich emitenti mohou spolupracovat s org\u00e1ny \u010dinn\u00fdmi v trestn\u00edm \u0159\u00edzen\u00ed na zmrazen\u00ed a zabaven\u00ed majetku, pokud jde o boj proti jejich zneu\u017eit\u00ed.\u201c<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Trump samoz\u0159ejm\u011b loni podepsal z\u00e1kon GENIUS Act, aby vytvo\u0159il pr\u00e1vn\u00ed r\u00e1mec pro stablecoiny spl\u0148uj\u00edc\u00ed regula\u010dn\u00ed po\u017eadavky a tak\u00e9 pro digit\u00e1ln\u00ed identity v souladu s p\u0159edpisy. D\u0159\u00edve se choval, jako by cht\u011bl zak\u00e1zat digit\u00e1ln\u00ed m\u011bny centr\u00e1ln\u00edch bank (CBDC). N\u011bkte\u0159\u00ed v\u0161ak tvrd\u00ed, \u017ee stablecoiny by mohly b\u00fdt je\u0161t\u011b problemati\u010dt\u011bj\u0161\u00ed ne\u017e CBDC, proto\u017ee je vyd\u00e1vaj\u00ed a kontroluj\u00ed korporace, a proto postr\u00e1daj\u00ed pot\u0159ebn\u00fd vl\u00e1dn\u00ed finan\u010dn\u00ed dohled.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">D\u00edky sv\u00e9 programovatelnosti lze tyto stablecoiny vypnout \u2013 bez ohledu na to, zda jsou kryty zlatem, nebo zda jsou zalo\u017eeny pouze na odpov\u00eddaj\u00edc\u00edch zlat\u00fdch p\u0159\u00edslibech.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Vzhledem k tomu v\u0161emu lze pozorovat, \u017ee tokenizace zlata se celosv\u011btov\u011b st\u00e1le v\u00edce formuje. Z\u00e1rove\u0148 se men\u0161\u00ed broke\u0159i a obchodn\u00edci s drah\u00fdmi kovy sna\u017e\u00ed tokenizovan\u00e9 zlato propagovat a p\u0159esv\u011bd\u010dit z\u00e1kazn\u00edky o tomto konceptu.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Spole\u010dnost KITCO, obchodn\u00edk s drah\u00fdmi kovy a poskytovatel zpr\u00e1v o komodit\u00e1ch, ned\u00e1vno inzerovala tokenizovan\u00e9 zlato s v\u00fdslovn\u00fdm odkazem na prohl\u00e1\u0161en\u00ed Sv\u011btov\u00e9 rady pro zlato (WGC).<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Jak poprv\u00e9 informoval The PM Report na Substacku, Neil Christensen, redaktor KITCO, ned\u00e1vno publikoval \u010dl\u00e1nek s n\u00e1zvem \u201eDal\u0161\u00ed f\u00e1ze v\u00fdvoje zlata\u201c.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><strong><span dir=\"auto\">Autor napsal:<\/span><\/strong><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">Zlato slou\u017e\u00ed jako uchovatel hodnoty po tis\u00edce let. Ale jak bude vypadat dal\u0161\u00edch tis\u00edc let, kdy investo\u0159i st\u00e1le \u010dast\u011bji objevuj\u00ed digit\u00e1ln\u00ed aktiva?<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">Finan\u010dn\u00ed syst\u00e9m se st\u00e1v\u00e1 st\u00e1le v\u00edce digitalizovan\u00fdm, co\u017e d\u00e1v\u00e1 drah\u00fdm kov\u016fm \u0161anci se znovuobjevit \u2013 a v budoucnu mo\u017en\u00e1 hr\u00e1t v m\u011bnov\u00e9m syst\u00e9mu v\u011bt\u0161\u00ed roli.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">Na v\u00fdro\u010dn\u00ed konferenci Lond\u00fdnsk\u00e9 asociace trhu se zlatem za\u010d\u00e1tkem tohoto m\u011bs\u00edce Vincent Domien, vedouc\u00ed obchodov\u00e1n\u00ed s drah\u00fdmi kovy v ICBC Standard Bank, zd\u016fraznil jedno z nejv\u011bt\u0161\u00edch omezen\u00ed zlata.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">\u201eM\u00e1te v rozvaze toto mrtv\u00e9 aktivum, kter\u00e9 v\u00e1m absolutn\u011b nic neznamen\u00e1,\u201c \u0159ekl. \u201ePokud byste mohli tokenizovat zlato a ka\u017ed\u00fd by ho mohl okam\u017eit\u011b pou\u017e\u00edvat, jeho pou\u017e\u00edv\u00e1n\u00ed by se n\u00e1hle dramaticky zv\u00fd\u0161ilo.\u201c<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">Zaj\u00edmav\u00e9 na sou\u010dasn\u00fdch diskus\u00edch o tokenizovan\u00e9m zlat\u011b je, \u017ee nen\u00ed t\u0159eba vytv\u00e1\u0159et \u017e\u00e1dnou novou t\u0159\u00eddu aktiv. Zlato se jednodu\u0161e mus\u00ed st\u00e1t u\u017eite\u010dn\u011bj\u0161\u00ed verz\u00ed toho, \u010d\u00edm u\u017e je.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">Zlatem kryt\u00e9 burzovn\u011b obchodovan\u00e9 fondy (ETF) zp\u016fsobily p\u0159ed dv\u011bma desetilet\u00edmi revoluci na trhu t\u00edm, \u017ee zp\u0159\u00edstupnily drah\u00fd kov \u0161ir\u0161\u00edmu okruhu investor\u016f. Tokenizace by mohla p\u0159edstavovat dal\u0161\u00ed f\u00e1zi tohoto v\u00fdvoje a transformovat zlato z pasivn\u00edho uchovatele hodnoty na aktivn\u011b pou\u017eiteln\u00fd finan\u010dn\u00ed n\u00e1stroj.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">P\u0159\u00edle\u017eitosti v\u0161ak sahaj\u00ed nad r\u00e1mec p\u0159il\u00e1k\u00e1n\u00ed nov\u00fdch investor\u016f.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">D\u00edky usnadn\u011bn\u00ed p\u0159evodu fyzick\u00e9ho zlata, jeho pou\u017eit\u00ed pro transakce a dr\u017een\u00ed jako kolater\u00e1lu by tokenizace mohla zv\u00fd\u0161it jeho pou\u017eitelnost v cel\u00e9m finan\u010dn\u00edm syst\u00e9mu. M\u00edsto toho, aby zlato le\u017eelo nevyu\u017eit\u00e9 v trezoru, mohlo by p\u0159isp\u011bt k zaji\u0161t\u011bn\u00ed likvidity a z\u00e1rove\u0148 si zachovat svou tradi\u010dn\u00ed funkci uchovatele hodnoty.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><strong><span dir=\"auto\">Mike z The PM Report v\u0161ak poukazuje na chybu v argumentu KITCO:<\/span><\/strong><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">\u201eZlato nen\u00ed technologie, kter\u00e1 \u010dek\u00e1 na dal\u0161\u00ed upgrade. Ani se nemus\u00ed p\u0159izp\u016fsobovat nejnov\u011bj\u0161\u00edm finan\u010dn\u00edm inovac\u00edm, aby z\u016fstalo relevantn\u00ed. Jeho trval\u00e1 hodnota spo\u010d\u00edv\u00e1 ve skute\u010dnosti, \u017ee jeho z\u00e1kladn\u00ed vlastnosti z\u016fst\u00e1vaj\u00ed nezm\u011bn\u011bny \u2013 bez ohledu na to, kolik m\u011bnov\u00fdch syst\u00e9m\u016f, finan\u010dn\u00edch instituc\u00ed nebo technologick\u00fdch inovac\u00ed p\u0159ich\u00e1z\u00ed a odch\u00e1z\u00ed.\u201c<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">Oslava tokenizace zlata jako v\u00fdznamn\u00e9ho pokroku je proto nejen zav\u00e1d\u011bj\u00edc\u00ed, ale p\u0159\u00edmo nebezpe\u010dn\u00e1. V mnoha ohledech m\u00e1 Neil v\u00edce spole\u010dn\u00e9ho s zast\u00e1nci tvrd\u00e9 linie mezi zast\u00e1nci Bitcoinu ne\u017e s vlastn\u00edky zlata. Koneckonc\u016f, to je ji\u017e dlouho jeden z hlavn\u00edch argument\u016f zast\u00e1nc\u016f Bitcoinu, kte\u0159\u00ed zlato odm\u00edtaj\u00ed ve prosp\u011bch digit\u00e1ln\u00edch k\u00f3d\u016f.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">Toto my\u0161len\u00ed je zalo\u017eeno na my\u0161lence, \u017ee v\u0161e digit\u00e1ln\u00ed je ze sv\u00e9 podstaty lep\u0161\u00ed, bezpe\u010dn\u011bj\u0161\u00ed a jednodu\u0161\u0161\u00ed a \u017ee v\u0161e analogov\u00e9 bude nevyhnuteln\u011b nahrazeno digit\u00e1ln\u00ed verz\u00ed. Tento zp\u016fsob my\u0161len\u00ed je z\u00e1sadn\u011b chybn\u00fd, jak se p\u0159\u00edznivci Bitcoinu museli opakovan\u011b p\u0159esv\u011bd\u010dit \u2013 naposledy p\u0159ed n\u011bkolika t\u00fddny, kdy byl hackersk\u00fd \u00fatok na syst\u00e9m Coldcard.<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Tato chybn\u00e1 logika ve skute\u010dnosti odporuje samotn\u00e9mu \u00fa\u010delu vlastnictv\u00ed zlata a vysv\u011btluje, pro\u010d zlato v pr\u016fb\u011bhu historie obvykle pat\u0159ilo k preferovan\u00fdm t\u0159\u00edd\u00e1m aktiv.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Nicm\u00e9n\u011b i renomovan\u00e9 osobnosti jako Peter Schiff nyn\u00ed nab\u00edzej\u00ed sv\u00e9 vlastn\u00ed tokenizovan\u00e9 zlat\u00e9 produkty. Sv\u016fj produkt naz\u00fdv\u00e1 \u201eTGold\u201c. Podle n\u011bj:<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">\u201ePokud m\u00e1te r\u00e1di stablecoiny, budete milovat tokeny kryt\u00e9 zlatem.\u201c<\/span><\/p>\n<figure class=\"wp-block-embed aligncenter is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\"><iframe loading=\"lazy\" title=\"Zlat\u00fd \u017eeton Petera Schiffa brzy?\" src=\"https:\/\/www.youtube.com\/embed\/IuAnmHbHIag?feature=oembed\" width=\"800\" height=\"450\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/figure>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Ne, d\u011bkuji.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Celkov\u011b vzato se podle m\u00e9ho n\u00e1zoru jedn\u00e1 jen o dal\u0161\u00ed zbyte\u010dn\u011b komplikovan\u00fd a sofistikovan\u011bj\u0161\u00ed podvod s rabatn\u00edm \u2013 tedy o podvod zalo\u017een\u00fd na tvorb\u011b pen\u011bz a z toho plynouc\u00edch v\u00fdhod\u00e1ch.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">To v\u0161ak vyvol\u00e1v\u00e1 novou ot\u00e1zku: Co se stane, kdy\u017e vlastn\u00edte zlato, st\u0159\u00edbro a dal\u0161\u00ed drah\u00e9 kovy, kter\u00e9 nejsou tokenizovan\u00e9, ale syst\u00e9m nevyhnuteln\u011b vede k tomu, \u017ee se tokenizovan\u00e9 transakce a transakce prost\u0159ednictv\u00edm technologie distribuovan\u00e9 \u00fa\u010detn\u00ed knihy (DLT) stanou standardem?<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Tuto ot\u00e1zku si kladu u\u017e roky. Kdy\u017e jsem se ptal n\u011bkter\u00fdch zast\u00e1nc\u016f t\u00e9to koncepce nebo online obchodn\u00edk\u016f s drah\u00fdmi kovy, nikdo mi nedok\u00e1zal d\u00e1t skute\u010dn\u011b jasnou odpov\u011b\u010f.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Nyn\u00ed se na tuto ot\u00e1zku zeptal n\u011bkdo jin\u00fd. Loni se o n\u00ed kr\u00e1tce hovo\u0159ilo b\u011bhem diskuse s Emerald Fox, viceprezidentkou pro provoz ve spole\u010dnosti Zang Enterprises. Lynette Zang, pro kterou pracuje, d\u0159\u00edve pracovala ve spole\u010dnosti ITM Trading.<\/span><\/p>\n<figure class=\"wp-block-embed aligncenter is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\"><iframe loading=\"lazy\" title=\"P\u0159e\u017eije va\u0161e bohatstv\u00ed reset? Ot\u00e1zky a odpov\u011bdi - rozbor #zlato\" src=\"https:\/\/www.youtube.com\/embed\/-eFviPntlts?feature=oembed\" width=\"800\" height=\"450\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/figure>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Ot\u00e1zka zn\u011bla: Pokud se v\u0161echno zhrout\u00ed a dolar se stane bezcenn\u00fdm, jak bude mo\u017en\u00e9 sm\u011bnit sb\u011bratelsk\u00e9 p\u0159edm\u011bty a drah\u00e9 kovy zp\u011bt za dolary?<\/span><\/p>\n<p class=\"wp-block-paragraph\"><strong><span dir=\"auto\">Fox vysv\u011btlil n\u00e1sleduj\u00edc\u00ed:<\/span><\/strong><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">\u201e[M\u016f\u017eeme] v\u00e1m pomoci s p\u0159evodem va\u0161ich aktiv do p\u0159\u00edslu\u0161n\u00e9ho m\u011bnov\u00e9ho syst\u00e9mu, na kter\u00fd p\u0159ech\u00e1z\u00edme \u2013 a\u0165 u\u017e jde o dolary nebo, v\u00edte, tokenizovan\u00e9 aktivum. Kdo v\u00ed, kam se to vyvine? Ale a\u017e p\u0159ijde \u010das na konverzi, budeme na to d\u00e1vat pozor a postar\u00e1me se o to.\u201c<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">[\u2026] Sv\u00e1 aktiva byste vym\u011bnili do p\u0159\u00edslu\u0161n\u00e9ho m\u011bnov\u00e9ho syst\u00e9mu nebo m\u011bny, na kterou pr\u00e1v\u011b p\u0159ech\u00e1z\u00edme. Pro\u010d byste to m\u011bli d\u011blat? Proto\u017ee takhle funguj\u00ed na\u0161e vl\u00e1da a na\u0161e syst\u00e9my, \u017ee?<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">Mus\u00edme se chovat stejn\u011b jako na\u0161e spole\u010dnost tady v Zang Enterprises. Mus\u00edme dodr\u017eovat z\u00e1konn\u00e9 platidlo zem\u011b, ve kter\u00e9 se nach\u00e1z\u00edte. Tak\u017ee a\u0165 u\u017e pou\u017e\u00edv\u00e1te cokoli, mus\u00ed to b\u00fdt z\u00e1konn\u00e9 platidlo, \u017ee?<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">Tyto sb\u011bratelsk\u00e9 p\u0159edm\u011bty m\u016f\u017eeme potenci\u00e1ln\u011b vyu\u017e\u00edt k zaji\u0161t\u011bn\u00ed proti rizik\u016fm v podnik\u00e1n\u00ed. Z\u00e1rove\u0148 v\u0161ak mus\u00edme b\u00fdt schopni nakupovat, utr\u00e1cet pen\u00edze, br\u00e1t si p\u016fj\u010dky atd. s lidmi kolem n\u00e1s a v na\u0161ich komunit\u00e1ch. O to jde.\u201c<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Mus\u00edm uznat, \u017ee Fox odpov\u00edd\u00e1 tak otev\u0159en\u011b. V\u011bt\u0161ina t\u011bchto prodejc\u016f drah\u00fdch kov\u016f na takov\u00e9 ot\u00e1zky t\u00e9m\u011b\u0159 nikdy ned\u00e1v\u00e1 jasnou odpov\u011b\u010f \u2013 pokud se na n\u011b v\u016fbec zam\u011b\u0159\u00ed.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Proto jsem vyj\u00e1d\u0159il ur\u010dit\u00e9 v\u00fdhrady k dlouhodob\u00fdm investic\u00edm do drah\u00fdch kov\u016f. Nejsem proti drah\u00fdm kov\u016fm, pr\u00e1v\u011b naopak. R\u00e1d bych v\u0161ak v\u011b\u0159il, \u017ee zastupuji vyv\u00e1\u017een\u00fd a nuancedovan\u00fd postoj: Na jedn\u00e9 stran\u011b jsou ti, kte\u0159\u00ed \u0159\u00edkaj\u00ed, \u017ee zlato je pouze \u201e\u017elut\u00fd k\u00e1men\u201c. Na druh\u00e9 stran\u011b jsou tac\u00ed, kte\u0159\u00ed pova\u017euj\u00ed drah\u00e9 kovy za svou sp\u00e1su, za n\u011bco, co za \u017e\u00e1dn\u00fdch okolnost\u00ed nem\u016f\u017ee selhat, a kte\u0159\u00ed jsou p\u0159esv\u011bd\u010deni, \u017ee ka\u017ed\u00fd, kdo je nevlastn\u00ed, bude v budoucnu \u010delit v\u00e1\u017en\u00fdm pot\u00ed\u017e\u00edm. Zastupuji postoj mezi t\u011bmito dv\u011bma extr\u00e9my.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Sna\u017eil jsem se v\u0161ak nab\u00eddnout nuance pohledu a vysv\u011btlit, co k tomuto t\u00e9matu \u0159\u00edkaj\u00ed historie a P\u00edsmo. Nast\u00ednil jsem to ji\u017e p\u0159ed n\u011bkolika lety ve sv\u00e9 zpr\u00e1v\u011b \u201ePen\u00edze selh\u00e1vaj\u00ed\u201c. Pokud jste ji je\u0161t\u011b ne\u010detli, pod\u00edvejte se pros\u00edm na tuto zpr\u00e1vu, abyste pochopili, kam podle m\u00e9ho n\u00e1zoru tento trend vede.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">V n\u011bm jsem mimo jin\u00e9 napsal:<\/span><\/p>\n<p class=\"wp-block-paragraph\"><em><span dir=\"auto\">\u201eDal\u0161\u00edm bodem, kter\u00fd sl\u00fdch\u00e1m opakovan\u011b, je tvrzen\u00ed, \u017ee centr\u00e1ln\u00ed banky se budou muset nevyhnuteln\u011b vr\u00e1tit ke zlat\u00e9mu kryt\u00ed. No, ned\u011blaj\u00ed to. Samoz\u0159ejm\u011b v\u011bd\u00ed, \u017ee zlato a st\u0159\u00edbro jsou skute\u010dn\u00e9 pen\u00edze, a tyto drah\u00e9 kovy nakupuj\u00ed ve velk\u00e9m mno\u017estv\u00ed. To ale neznamen\u00e1, \u017ee s nimi budeme moci v budoucnu platit vy i j\u00e1. V\u0161echno se digitalizuje. Moje zpr\u00e1va o tokenizaci to dokazuje v\u00edce ne\u017e jasn\u011b.\u201c<\/span><\/em><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">I kdy\u017e centr\u00e1ln\u00ed banka tvrd\u00ed, \u017ee svou digit\u00e1ln\u00ed m\u011bnu centr\u00e1ln\u00ed banky (CBDC) podporuje drah\u00fdmi kovy, mus\u00ed existovat jasn\u00fd d\u016fkaz, \u017ee tuto m\u011bnu lze skute\u010dn\u011b sm\u011bnit za odpov\u00eddaj\u00edc\u00ed drah\u00fd kov. A i tehdy z\u016fst\u00e1v\u00e1 ot\u00e1zkou: Kdo by cht\u011bl prov\u00e1d\u011bt transakce v syst\u00e9mu, kde je ka\u017ed\u00e1 jednotliv\u00e1 akce monitorov\u00e1na a sledov\u00e1na v re\u00e1ln\u00e9m \u010dase? Tokenizace transakc\u00ed eliminuje anonymitu \u2013 a to je pr\u00e1v\u011b jeden z kl\u00ed\u010dov\u00fdch d\u016fvod\u016f, pro\u010d by kdokoli cht\u011bl vlastnit drah\u00e9 kovy.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Pan\u00ed Emerald Fox potvrdila m\u00e9 podez\u0159en\u00ed a obavy. Nejde o to, \u017ee bych byl proti investov\u00e1n\u00ed do drah\u00fdch kov\u016f. Sp\u00ed\u0161e m\u00e9 v\u00fdhrady k dlouhodob\u00fdm investic\u00edm pramen\u00ed z kontextu sou\u010dasn\u00e9ho v\u00fdvoje a sm\u011bru, kter\u00fdm se ub\u00edr\u00e1me. Jak jsem v t\u00e9to i dal\u0161\u00edch zpr\u00e1v\u00e1ch vysv\u011btloval ji\u017e l\u00e9ta, my\u0161lenka, \u017ee se nevyhnuteln\u011b vr\u00e1t\u00edme k tradi\u010dn\u00edmu m\u011bnov\u00e9mu syst\u00e9mu kryt\u00e9mu zlatem, nen\u00ed nic jin\u00e9ho ne\u017e zbo\u017en\u00e9 p\u0159\u00e1n\u00ed. To se nestane. Budoucnost pat\u0159\u00ed tokenizaci, technologii distribuovan\u00e9 \u00fa\u010detn\u00ed knihy (DLT) a digit\u00e1ln\u00ed identit\u011b.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Proto m\u00e1m ur\u010dit\u00e9 v\u00fdhrady k investov\u00e1n\u00ed velk\u00fdch \u010d\u00e1stek v t\u00e9to oblasti. Jedna v\u011bc je investovat do drah\u00fdch kov\u016f p\u0159ed mnoha lety, kdy byly zlato a st\u0159\u00edbro neuv\u011b\u0159iteln\u011b levn\u00e9 ve srovn\u00e1n\u00ed s dne\u0161kem. Ka\u017ed\u00fd, kdo se do toho tehdy pustil, pravd\u011bpodobn\u011b dos\u00e1hl dobr\u00e9 n\u00e1vratnosti sv\u00e9 investice.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">M\u00e9 obavy pramen\u00ed z jin\u00e9ho d\u016fvodu: v\u00edm, \u017ee mnoho lid\u00ed \u010dte a sleduje m\u00e9 p\u0159\u00edsp\u011bvky. A \u2013 pros\u00edm, nepochopte m\u011b \u0161patn\u011b \u2013 mnoho z nich prost\u011b nem\u00e1 moc pen\u011bz. Pro n\u011b investov\u00e1n\u00ed do drah\u00fdch kov\u016f nemus\u00ed d\u00e1vat ekonomick\u00fd smysl. Proto\u017ee i kdy\u017e dolar rychle ztr\u00e1c\u00ed hodnotu, hotovost je st\u00e1le pot\u0159eba k ob\u017eiv\u011b v r\u00e1mci st\u00e1vaj\u00edc\u00edho syst\u00e9mu.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Trhy s drah\u00fdmi kovy, a zejm\u00e9na obchodn\u00ed platforma COMEX, jsou nav\u00edc manipulov\u00e1ny v trestn\u011bpr\u00e1vn\u00edm rozsahu a jsou zalo\u017eeny na um\u011bl\u00e9m a zav\u00e1d\u011bj\u00edc\u00edm syst\u00e9mu.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Mysl\u00edm t\u00edm, \u017ee se nach\u00e1z\u00edme uprost\u0159ed glob\u00e1ln\u00ed energetick\u00e9 krize a kolapsu dodavatelsk\u00e9ho \u0159et\u011bzce, kter\u00e9 se den ode dne zhor\u0161uj\u00ed. V\u00fdnosy z dluhopis\u016f st\u00e1le rostou, um\u011ble nafouknut\u00e1 glob\u00e1ln\u00ed bublina um\u011bl\u00e9 inteligence prask\u00e1 a hrozba dal\u0161\u00edch glob\u00e1ln\u00edch v\u00e1lek se zvy\u0161uje. A p\u0159esto ceny zlata a st\u0159\u00edbra klesaj\u00ed?! Zlato tento t\u00fdden m\u00e1lem kleslo pod 4 000 dolar\u016f. Je to prost\u011b absurdn\u00ed. Ale hra je zmanipulovan\u00e1 a kontrolovan\u00e1 \u201ejimi\u201c. T\u00e9to kontroly se, bohu\u017eel, nikdy nevzdaj\u00ed.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Jak jsem ji\u017e \u0159ekl, jedn\u00e1 se o um\u011ble vytvo\u0159en\u00fd, sofistikovan\u00fd podvod zalo\u017een\u00fd na zisc\u00edch z vytv\u00e1\u0159en\u00ed pen\u011bz a lichv\u011b, jeho\u017e c\u00edlem je p\u0159ipravit masy o skute\u010dn\u00e9 bohatstv\u00ed a skute\u010dn\u00e9 pen\u00edze \u2013 na z\u00e1klad\u011b motta: \u201eNebudete nic vlastnit a budete \u0161\u0165astn\u00ed.\u201c<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Centr\u00e1ln\u00ed banky n\u00e1s vedou do tokenizovan\u00e9ho syst\u00e9mu. N\u011bkter\u00e9 z nich mohou tvrdit, \u017ee sv\u00e9 um\u011bl\u00e9 CBDC a stablecoiny podkl\u00e1daj\u00ed zlat\u00fdmi sliby. Ale kde jsou d\u016fkazy o tom, \u017ee je skute\u010dn\u00e1 konverze na zlato mo\u017en\u00e1?<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">A nepop\u00edr\u00e1 tokenizace p\u0159esn\u011b skute\u010dn\u00fd \u00fa\u010del decentralizovan\u00fdch aktiv, kter\u00e1 \u010dlov\u011bk fyzicky vlastn\u00ed?<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Pokud nov\u00fd syst\u00e9m skute\u010dn\u011b znamen\u00e1 tokenizaci \u2013 a k n\u00ed dojde \u2013 mohly by se tyto drah\u00e9 kovy st\u00e1t bezcenn\u00fdmi, pokud nebudou tokenizov\u00e1ny dobrovoln\u011b nebo n\u00e1sil\u00edm?<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Netvrd\u00edm, \u017ee zn\u00e1m v\u0161echny odpov\u011bdi na to, jak bychom se s touto situac\u00ed m\u011bli vypo\u0159\u00e1dat \u2013 krom\u011b toho, co nazna\u010duje v\u00fd\u0161e uveden\u00e1 \u010d\u00e1st a dal\u0161\u00ed pas\u00e1\u017ee.<\/span><\/p>\n<p class=\"wp-block-paragraph\"><span dir=\"auto\">Jedno ale v\u00edm: tokenizace je pro m\u011b absolutn\u011b nep\u0159\u00edpustn\u00e1 a mus\u00edme ud\u011blat v\u0161e, co je v na\u0161ich sil\u00e1ch, abychom se j\u00ed co nejv\u00edce postavili.<\/span><\/p>\n<\/div>\n<\/div>\n<div class=\"elementor-element elementor-element-8c57238 quelle dc-has-condition dc-condition-empty elementor-widget elementor-widget-heading\" data-id=\"8c57238\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h3 class=\"elementor-heading-title elementor-size-default\"><span style=\"font-size: 10pt;\"><a href=\"https:\/\/thewinepress.substack.com\/p\/central-banks-and-precious-metals?utm_source=post-email-title&amp;publication_id=832192&amp;post_id=222390504&amp;utm_campaign=email-post-title&amp;isFreemail=true&amp;r=pf6gr&amp;triedRedirect=true&amp;utm_medium=email\" target=\"_blank\" rel=\"nofollow noopener\"><span dir=\"auto\">Zdroj<\/span><\/a><\/span><\/h3>\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u201eJakmile bude datab\u00e1ze v\u0161udyp\u0159\u00edtomn\u00e1, bude ji pou\u017e\u00edvat ka\u017ed\u00fd\u2026 Ka\u017ed\u00e1 zlat\u00e1 slitka bude m\u00edt nakonec sv\u016fj&#8230;<\/p>\n","protected":false},"author":2,"featured_media":120163,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[503,959,497,693],"_links":{"self":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/120162"}],"collection":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/comments?post=120162"}],"version-history":[{"count":0,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/120162\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media\/120163"}],"wp:attachment":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media?parent=120162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/categories?post=120162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/tags?post=120162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}