"One company, E-gold, already allows online users to settle payments using its currency, which is 100% backed by gold. Ownership of the gold changes, but the physical bullion stays put with the company, which is based on the Caribbean island of Nevis. The system is also transparent: Holders have real-time access to the total amount of e-gold in circulation, and the company's total bullion reserves."
Read the complete article entitled “Making New Money” in the April 23,
2001 issue of Barron's.