TechFlow news, on November 22, according to Cointelegraph, Texas State Representative Cody Harris said at the North American Blockchain Summit that a state-issued, gold-backed digital currency would serve as an important bridge for the public to access Bitcoin. Each unit of this digital currency will correspond to a specific proportion of troy ounce gold reserves.
Harris believes that a state-issued digital currency offers greater security for conservative investors compared to tokens issued by startups. He emphasized it is a "stepping stone" toward Bitcoin, not a competitor.
Harris also expressed concerns about central bank digital currencies (CBDCs), stating they could harm national and Texas state interests, and urged the community to ensure governments properly address associated risks before CBDCs are launched. In April this year, two Texas lawmakers separately introduced bills proposing the issuance of a gold-backed digital currency.
