DigixDao: The Community Run Gold Trading Marketplace
Digix completed the first ever crowd-sale fundraising event on the Ethereum Blockchain in March 2016. It surpassed expectations by reaching its 5.5 million USD target. More impressive is it managed it in 12 hours. People from all around the world purchased a tokenized stake in a decentralised autonomous organisation. What was this organisation doing? Lead by Digix, they had agreed to develop a technology that would back up DigixDao tokens with grams of gold.
A fast-moving altcoin that been listed on Bittrex and Binance. DGD tokens have passed the $400 USD mark, and the community leading this project has proven themselves time and time again and sentiment, in early 2018 seems good for this altcoin, which I think still has a long climb ahead.
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DigixDAO
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What Is DigixDao?
https://www.youtube.com/watch?v=uHvygtO6Q1I -Video Source Kai Cheng Chng
Each DGX Token Represents 1g of Gold
How does that work? Through connections with publicly listed companies, Digix has set up transparent blockchain gold tracking. ValueMax, Singapore, is a publicly listed company. They supply London Bullion Market Association(LBMA) certified gold bullion bars through the Digix Marketplace. A first glance ValueMax looks like a dodgy pawn shop, but dig a little deeper. They sell a lot of Gold, and it doesn’t matter how ill-reputable the vendor DigixDao chooses to partner with, because Bureau Veritas, a world renowned asset Inspectorate, carries out quarterly checks on the quality and quantity at the DigixDao custodian vault to ensure accounting is upheld. MalcaAmit’s, are a logistics company, who will be acting as DigixDao’s gold couriers, and they have a state of the art facility near Singapore Changi International Airport. It’s 25,000 sqm of high security and climate controlled facility featuring cutting edge security technologies enhanced by green building engineering.

Why Use DigixDao Cryptocurrency?
A Proof of Asset protocol tracks gold from the supplier to the custodial vault. Like other Ethereum transactions anyone can see the transaction. Entries are signed with private keys making all transactions permanent and immutable. No one can send gold they don’t have or remove the record of gold being sent. “If you 100% trust the company you are working with, being able to roll back transactions may seem more secure to you. If you don't trust them though, that access makes the whole thing very insecure. With goldmoney, you need to trust them not to mess with the database. With Digix, I don't have to trust them at all. I just need to trust the Ethereum network and Bureau Veritas, a very well known and well respected auditor-” Reddit User vman411gamer Where do DGX tokens come into all of this? In addition to DigixDao coin (DGD) DGX Tokens are minted via a Minter Smart Contract in exchange for equivalent PoA Cards that are sent to the Minter Smart Contract. For instance, a 100g PoA Card sent to the Minter Smart Contract returns 100 DGX tokens to the user.Partnership Announced with MakerDAO
Maker is a decentralised autonomous organisation (DAO) on the Ethereum blockchain which aims to minimise the price volatility of its own stable token, the Dai, against the US dollar. Dai uses smart contracts to create a decentralised stable coin that is pegged to 1 USD and backed by diversified collateral on-chain.