US senators propose auditing gold reserves, analysts say it may promote the application of blockchain in sovereign reserve management

2025-02-18 16:17:15

Abstract generation in progress

In the latest TechFlow news, on February 18, according to The Block, U.S. Senator Rand Paul proposed an audit of Fort Knox’s gold reserves, which have not been independently audited since 1974. It is reported that the reserves currently store approximately 147.3 million ounces (about 4,600 tons) of gold.

WeFi growth director Agne Linge said that if the audit finds problems with the US gold reserve tracking system, it will provide justification for the adoption of public and transparent technologies such as blockchain. Through blockchain technology, the amount of gold in each vault can be tracked in real time and verified by the public, enhancing transparency.

Musk previously expressed support on social platform X for moving part of the operations of the Treasury Department to blockchain to address the current issue of improper payments. Linge pointed out that efficiency has become a new theme for the US government, and blockchain, as a dynamic technology, can help key areas such as gold reserves that require public accountability to achieve this goal.

The price of gold approached a historical high of $2,942 on Tuesday. Market analysis indicates that gold investors have established a new support level around $2,880 over the past week, further strengthening the upward momentum of gold.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.