What Is DigixDao?
-Video Source Kai Cheng Chng
The DigixDao is an ERC20 token and this entire cryptocurrency is run on the Ethereum Network. Sounds like every other altcoin, right? but all the money raised in the crowdfunding event($5.5 million) is tied up in an Ethereum smart contract. The organisations' funds are held to ransom, and the community demands progress for their release.
DGD token holders are all stakeholders in a DAO (Decentralised Autonomous Organisation). Only with majority consensus can the developers and Digix team get money from the smart contract. Digix are a company building DigixDoa, It’s like they have pitched an entire idea and put funding for it into escrow."
provides a transparent, auditable, and secure protocol that leverages the full potential of Ethereum's peer-to-peer decentralized consensus system and IPFS permanent document storage to facilitate the creation of transferable crypto assets on the blockchain." - Digix Reddit Page