Treasury, not the Fed (which is NOT federal), will issue US cybergold as US currency backed by gold allowing Americans and users the convenience of electronic transactions while at the same time maintaining gold and silver backed US notes in legal tender paper for those that do not want to or are not able to use electronic US cybergold.
Zuckerberg can play with his Mark all he wants but it will not be and won’t be allowed to be gold-backed which means it’s play money and will be worth as much.
A crypto currency backed by gold?
If this is US crypto currency backed by gold, is that currency then on the gold standard? But we abandoned the gold standard, didn’t we? This could be a step back to a good standard, of having American money backed by precious metals????