## Introduction
In a recent development in the cryptocurrency industry, Binance founder Changpeng “CZ” Zhao has challenged economist Peter Schiff’s perspective on tokenizing gold. This article delves into CZ’s stance on why tokenizing gold does not equate to on-chain gold.
### Changpeng “CZ” Zhao Contradicts Peter Schiff’s Tokenization of Gold
Binance founder and cryptocurrency personality, Changpeng “CZ” Zhao, has provided clarity on the concept of tokenizing gold, countering the views expressed by renowned economist Peter Schiff.
#### CZ Disputes Schiff’s Notion of Tokenized Gold
During a recent interview, Peter Schiff disclosed his intentions to introduce a product that tokenizes gold. However, CZ strongly disagreed with Schiff’s portrayal of tokenized gold as synonymous with on-chain gold. According to CZ, the majority of individuals within the crypto space comprehend this distinction.
##### Conclusion
In the ongoing debate between CZ and Peter Schiff regarding tokenizing gold, CZ has highlighted the disparities between tokenized gold and genuine on-chain gold. As the cryptocurrency and blockchain landscapes continue to evolve, such discussions serve to clarify the nuances of digital assets and their relationship to traditional commodities.