Dutch Central Bank Transfers €15 Billion in Cash and Gold via Trucks

The Dutch central bank named “De Nederlandsche Bank (DNB)” recently transferred a cumulative amount of up to 15B euros in the form of gold coins, bars, and banknotes for 4 weeks.

Nonetheless, the respective task can be done with the primary crypto token Bitcoin within a matter of minutes and without spending huge sums of money.

De Nederlandsche Bank Uses Trucks to Transfer €15 Billion Worth of Cash and Gold

The respective high-value transfer was accomplished by the Dutch central bank following its planning that spanned over several months. Nevertheless, Bitcoin (BTC) could have performed the same job in no time.

The operation took into account the relocation of the cash and gold reserves from the Haarlem-based vault. As per NOS (a Dutch broadcaster), the reserves were brought to the recently opened Zeist-based Cash Centre.

The transaction took into account cash of approximately 4.5B euros while the gold transferred by the organization weighed 200,000 kilograms in the form of coins and bars. The respective transaction could have been carried out without the unnecessary waste of time and money if the organization had used the top crypto token Bitcoin (BTC).

Formerly, in 2020’s November, the reports pointed out that the central bank carried out such a transfer. The source of the respective transfer was Amsterdam while Haarlem was the destination of the reserves.

This transaction was done while responding to workplace-related renovations. At that time, there were lockdowns because of which people started transacting funds with the use of Bitcoin.

As per a Royal Netherlands Marechaussee police official Captain Stan Verwerkt, transporting these types of precious things like gold and cash requires careful planning.

In addition to this, the Royal Netherlands-based forces operate in collaboration with expert groups while also getting assistance from the military and police. Coen Voormeulen, a division director at DNB, reiterated that a minor team of accredited people was actively engaged.

According to the officials, strict security procedures were implemented. Apart from that, only the most relevant people had the information. This was done to sustain confidentiality. Nevertheless, 100% security cannot be ensured by anyone in such a procedure.

The former reports brought to the front that a cargo container paved the way for a great loss back in April this year.

The reports signify that an approximate amount of almost $15M in the form of valuables and gold had been lost from the Pearson International Airport of Toronto. The theft took place after the cargo of the plane was shifted to a holding place.

There, the cargo was unloaded and shifted to some other place. People who promote Bitcoin are of the view that the crypto assets offer a simple solution to such issues, particularly when huge payments are to be made.

Bitcoin (BTC) has many benefits in comparison with conventional methods of transfer. The benefits provided by Bitcoin take into account high transfer efficiency, decentralization, and improved security.

Bitcoin is additionally alluring than a time-consuming and costly procedure of scheduling and accomplishing physical transactions of value.

Bitcoin Offers a Very Cost-Effective, Rapid and Secure Method of Value Transfer

In 2020, a consumer could transact almost 107,000 BTC (nearly $670M) by recompensing just $0.26 as a fee. This signifies the logistical difficulty and expensiveness of an enormous transaction with the use of a traditional bank.

An increasing sum of speculators and investors realized the usefulness of the digital transfers done with the use of Bitcoin during the pandemic period.