Odaily Planet Daily News Texas House Republican representative Cody Harris discussed the development of Texas gold-backed tokens at the North American Blockchain Summit on November 21. He believes that gold-backed tokens issued by the Texas government could serve as a gateway for Texans to explore digital assets like Bitcoin. In April 2023, two Texas lawmakers introduced two bills aimed at creating a state-issued digital currency backed by gold. According to the plan, each unit of the digital currency will represent a specific fraction of one ounce of gold held in trust. Harris stated that this initiative could help skeptics become more accepting of cryptocurrency by providing a government-issued digital alternative before transitioning to decentralized assets like Bitcoin; for those who are very reluctant to own Bitcoin or explore cryptocurrency, tokens issued by startups may feel somewhat "reassuring" compared to government-issued tokens. While encouraging the gold-backed digital currency project in Texas, Harris is opposed to Central Bank Digital Currency (CBDC). (Cointelegraph)