‘You can run a whole economy on BSV’: WorldVest’s Garett Krause talks about tokenizing real-world assets

Getting your Trinity Audio player ready...

“BTC is a HODL investment case, but you can run a whole economy on BSV,” says Garrett Krause. In an interview with CoinGeek Backstage, the mining industry veteran talked about his journey with blockchain technology and how he is playing a part in bringing the gold standard back, but on Bitcoin.

Krause is the chairman and CEO of WorldVest, an investment group focusing on long-term outsized growth opportunities. He is also the mind behind TroyMoney, a platform that allows users to purchase tokenized gold easily.

“I’m an old school investor who wants real hard assets,” the 35-year commodities trading veteran told CoinGeek Backstage reporter Becky Liggero at the second annual Unbounded Capital Investor Summit in New York.

Krause first attempted to build the first iteration of TroyMoney in 2017 on Ethereum. However, the network was slow, expensive, and couldn’t scale. Regulations were also lagging behind, and he shelved the idea.

His interest in tokenizing physical gold was reignited years later when he came across BSV, a blockchain network that scales unbounded and was designed with compliance in mind.

With a market cap estimated at $13 trillion, gold remains one of the most popular assets globally. However, purchasing gold for retail investors remains cumbersome, expensive, and risky. The BTC community leveraged this challenge and touted the asset as ‘digital gold,’ but Krause provides a more holistic solution with TroyMoney by tokenizing physical gold.

“For old school guys like me, we want to buy the gold and know that we own the gold. TroyMoney was a result of people who want to buy gold, and I based the app on what I would use,” Krause said.

‘You can run a whole economy on BSV’

Krause first got introduced to BSV blockchain when he tuned into the London Blockchain Conference earlier this year to learn about the network, and he hasn’t turned back since. He met James Belding, the founder of Tokenized after seeing him on stage at the conference.

“I called James every night for two months,” he says. He dug into Satoshi Nakamoto and the original protocol, the scaling civil war, the BTC and BCH forks, the personalities in the space, the token protocols, and everything in between.

His conclusion after months of studying blockchain networks: “You can run a whole economy on BSV. That’s where builders are going to be in the future.”

With TroyMoney, Krause wants to solve the “spend with Bitcoin” challenge. While stablecoins have become popular, their scope is limited to the digital asset world. CBDCs have been touted as the next best alternative, but as Nigeria’s eNaira and other pioneering CBDCs have proven, people hesitate to trust government-issued digital currencies.

However, with TroyMoney, users can make payments with their assets in the real world.

“Now, with your digital fiat, gold, oil, or silver, you can walk into any merchant that accepts TroyMoney, and you can make payments. And there’s no government interference and no monitoring; it’s private,” Krause remarked.

TroyMoney is expanding beyond simple payments to offer its users a more holistic experience. This includes offering them “an 80% line of credit on their assets,” so they don’t have to sell off their assets whenever they need cash.

Watch: Tokenizing gold on Bitcoin & new BSV stablecoin set to launch