Gold News: Gold Stolen From Brinks Security

Today’s gold news is something you don’t see every day.  Yesterday Brinks Company – aka Brinks Security – told the world that about $13 million in gold was stolen from them on Dec. 6th.

The customer involved has been reimbursed, “immediately,” as noted by the company. No few additional details have been released. No indication of where or how has been publicly acknowledged.  If the valuation is correct, this would be the 12th largest gold heist in recorded history – here’s an infographic with the biggest heists so far. Despite the loss, Brinks still expects to post positive results for 2017 Q4 and for 2017 overall, somewhere in the neighborhood of $280 million in profits.

Cryptocurrency advocates are already pointing out the advantages of using modern tech to avoid having to move precious metals; they may be on to something there. But possibly not the way they think. You don’t need a cryptocurrency intermediary if the gold itself is tracked with blockchain tech.  Here are all the details Brinks has released. What do you think – could this have been avoided with blockchain tech?  

Is it better to move heavy metal around, or should it all be kept in one big pile, tracked by binary bits of data?  Sound off in the Comments below!

 Related: Do Miners Trade Differently Than Gold? Here’s What You Should Know

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