Digix has created the Proof of Asset protocol on Ethereum and IPFS to allow for Digix Gold tokens (DGX) on DigixDAO tokens (DGD) on Ethereum.
Every 1 DGX represents 1 Gram of Gold.
DGX follows the EIP20 Etheruem token standard, and is freely usable in current and future Smart Contracts.
At Digix, we think that diversification is paramount. Fluctuations in the price of Ether can make it impossible to plan financially, so storing some value in DGX is an obvious win.
Payments in a blockchain ecosystem are burdened by the potential for either party to lose out due to fluctuating prices. DGX alleviates this problem by allowing both sides of an agreement to know that wild swings are unlikely.
The longer an agreement takes to complete, the greater the volatility problem becomes; it discourages both sides from engaging with contracts due to the downside risk. By using gold as the basis of value, DGX is especially useful as a medium of exchange.
Our vision for the future a world operating on Smart Contracts. Indeed, we think this vision will become a reality very soon.
In this world, a stable store of value is needed - that's why is why we created DGX.
In order to ensure the success of of DGX, we also conceived DGD; a stake in a 'Distributed Autonomous Organisation' that rewards DGD holders based on DGX's success. By participating in the DAO and working on its behalf in curating proposals, you get rewarded based on the usage of DGX in the Ethereum ecosystem.
DGD holders use their tokens to decide on proposals, and determine the best way forward for Digix.
Since forming in Singapore, 2014, Digix Global have assembled an elite team of business, legal and technology experts to become one of the foremost teams in the blockchain space.
Digix is open to new partnerships and we'd love to talk about opportunities of all kinds.
© 2016 DigixGlobal Pte Ltd 2016