"Orebits Corp. has created a new asset class, enabled by Symbiont's distributed ledger technology, which will change the precious metals financing marketplace forever," says Scott Mehlman, CEO of Orebits Corp.; through support from Symbiont's blockchain technology, Orebits will offer clients digitized "smart certificates" called "orebits" that are tied to gold reserves setting up a new form of gold trading; additionally the exchange for the new gold orebits will operate based on a peer-to-peer structure; Symbiont reports that the innovation has created a completely new trading alternative for investors to gain exposure to gold and Orebits says the exchange will operate without margins, storage and insurance, creating a considerable advantage over other current methods for investing in gold. Source
Caitlin Long recently stepped down as President and Chairman of blockchain startup Symbiont to help turn Wyoming into an ideal environment for digital asset businesses; she helped with the Delaware Blockchain Initiative and, along with her partners, recently introduced 5 bills in Wyoming; 3 of the 5 have passed and the Governor has indicated he will sign them into law later this month; American Banker interviewed Caitlin on institutional interest cryptocurrencies, bitcoin becoming financialized, the different between security and utility tokens and more. Source.