Probably someone doesn't know, but E-Gold, the first digital currency backed entirely by gold, was launched in 1995. It was quite popular, used by millions of people around the world before it shut down. There were other unsuccessful attempts at launching a digital currency backed by gold before the craze died out for awhile. After Bitcoin became popular, many companies started dabbling in gold-backed cryptocurrencies again. For example, in February 2015, Xaurum launched its gold-backed cryptocurrency, but it fizzled out too. More recently, thanks to the unprecedented cryptocurrency boom in 2017, there has been renewed interest. In the past few months, Golmda cryptocurrencies have launched and, provides for an excellent business model for participates
