以下轉載 Ronald Leung 於原刊日期發表的評論。觀點、邀請及產品資料反映發表當時的情況，並不構成投資建議、要約、回報保證，亦不代表產品目前可供使用。
Try this. Take one gold bar and walk it past three government departments.
Customs sees goods crossing a border. The SFC sees an investment product. The HKMA is looking at a line on a bank's balance sheet.
All three are right. All three are looking at a different object. In most countries you only make that walk once. Gold sits with the central bank, and the central bank is asked to look at the whole thing.
Hong Kong does it in parts, and each part works. But nobody is asked to look at all of it at once.
And gold does more than one job. It settles trades, it holds value, and it moves across a region rather than one city.
Nobody has looked at it whole yet. Better to ask now.
Disclosure: Esperanza operates a tokenised gold business. — Let's open the statute. A new breakdown every week.