TechFlow reported that on November 22, according to Cointelegraph, Texas Congressman Cody Harris said at the North American Blockchain Summit that the gold-backed digital currency issued by the state government will become an important bridge for the public to access Bitcoin. Each unit of the digital currency will correspond to a specific proportion of troy ounces of gold reserves.
Harris believes that digital currencies issued by state governments can provide more security for conservative investors than tokens issued by startups. He emphasized that this is a "stepping stone" to Bitcoin, not a competitor.
Harris also expressed concerns about central bank digital currencies (CBDCs), noting that CBDCs could harm national and Texas interests, and called on the community to ensure that the government properly handles related risks before CBDCs are launched. In April this year, two Texas lawmakers separately proposed bills to issue gold-backed digital currencies.
