## Introduction
In a recent development, Binance founder Changpeng “CZ” Zhao has disputed economist Peter Schiff’s opinions regarding tokenizing gold. CZ clearly stated that tokenizing gold does not equate to ‘on-chain’ gold, a notion widely understood within the crypto community.
## Changpeng “CZ” Zhao Challenges Peter Schiff’s Perspective
In a timely response to renowned economist Peter Schiff’s announcement about launching a tokenized gold product, Changpeng “CZ” Zhao discredits the concept. According to CZ, the act of tokenizing gold does not embody the essence of ‘on-chain’ gold, contrary to Schiff’s belief.
## Insights from the Latest Interview
Peter Schiff, known for his staunch advocacy of gold, recently unveiled his intentions to introduce a tokenized gold offering. However, CZ’s stance emphasizes that the crypto industry comprehends the distinction between tokenizing gold and authentic ‘on-chain’ gold assets.
## Conclusion
The clash of views between Changpeng “CZ” Zhao and Peter Schiff sheds light on the complexities surrounding tokenized assets within the digital ecosystem. While Schiff seeks to bridge traditional gold with blockchain technology, CZ underscores the significance of distinguishing between tokenization and the essence of on-chain assets. This debate underscores the evolving landscape of digital assets and the need for clarity in defining asset-backed tokens. The post “Just-In: Changpeng “CZ” Zhao Counters Peter Schiff, Says “Tokenizing Gold Is Not On-Chain Gold”” provides valuable insights into this ongoing discourse within the cryptocurrency sphere.