At Digix, we are building an ecosystem that aims to be the 21st century gold standard on the Ethereum blockchain, through the launch of our first product, the gold backed token DGX. We first aim to democratise access to gold by having digital gold easily accessed by the average person. The use cases for operationally secure and transparent digital gold are endless. We leverage the transparency and security afforded by the blockchain in what would otherwise be an opaque custody chain of asset transfers. All inventory data on the physical assets backing the tokens are transparently tracked and audited on the blockchain for anyone to verify. Tokens can be created through the smart contracts only after the physicals have been delivered by Digix to the independent custodial vault. The physicals are subject to quarterly audits by an independent precious metals auditor that we engage. Our proprietary asset tokenisation technology is the foundation of a revolution in the digitisation of assets. We sit on the convergence of the digital and physical worlds.
Since the company’s inception in 2014, our team has grown from a three-man mission to a full-fledged team of business, legal and technology experts. We have obtained investments from prominent VCs and angel investors, some of which include Japanese VC Global Brain and Chinese VC Fenbushi Capital.
- No centralised database management of Crypto Asset records
All chain of custody information is fully managed by the Ethereum blockchain. This blockchain ledger is immutable with data upload taking significantly less time than on the Bitcoin blockchain.
- No Web-based Log Ins
There is no web form log in. Users will download desktop clients from Digix. The application itself can also be compiled from source on Github and is publicly auditable. There is significantly less chance of a Man in the Middle attack compared to traditional user web-based log-ins.
- Secure Cold Storage of Crypto-Assets
Digix’s Aegis Vaults is a cold storage wallet custodial service for crypto-assets and crypto
currencies on Ethereum.
- Perpetual Existence of Digital Assets
All data is recorded on the blockchain and exists indefinitely. Even if Digix folds, every proof generated can be verified and are admissible in a court of law in the applicable jurisdiction.
DIGIX launched 2 kinds of cryptocurrencies
- Digix Gold (DGX) - The Finest Gold Tokenized. DGX is a digital token backed by 99.99% gold cast bars from London Bullion Market Association-approved refiners. Built on the Ethereum blockchain, DGX is the digital representation of physical gold. We carry only gold of the highest quality, using 100-gram swiss gold bars from world-class refineries such as Valcambi, Produits Artistiques Metaux Precieux (PAMP), Metalor. Our custodian vault is The Safe House Singapore. Gold has always been a safe haven asset. As such, DGX will always be a stable store of value that is cryptographically secure. You can transact with an ease of mind, trusting in the transparency and security of our business.
- DigixDAO (DGD) aims to be a self-organising community on the Ethereum blockchain that actively involves its token holders in decision making and shaping the direction of the asset tokenisation business. Potential proposal ideas could include making music videos about Digix, accepting DGX as payment method in their cafe, starting a Digix cafe, amongst many possible ideas.