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Summary of Digix Gold Token
- Founded in Singapore in Dec 2014
- Tokenization of physical assets on the blockchain
- Proof of Provenance (PoP) protocol for asset verification
- Uses Ethereum network and Interplanetary File System (IPFS)
- API for building applications on top of asset tokenization service
- 2 cryptocurrencies: Digix Gold (DGX) and DigixDAO (DGD)
- Gold procurement: LBMA-approved refiners
- Security: Third-party auditing from Bureau Veritas
- DGD crowdsale: First crowdsale and major DAO on Ethereum network (Mar 2016)</
Introducing the Digix Gold Token: A Beacon of Innovation
Established in Singapore in December 2014, DigixDAO (DGD) is pioneering a decentralized autonomous organization (DAO) that excels in the tokenization of physical assets. The project furnishes the infrastructure to create tokens backed by physical assets on the blockchain, thereby enabling the public verification of an asset’s existence through its chain of custody via its innovative Proof of Provenance (PoP) protocol, which leverages the Ethereum network and the Interplanetary File System (IPFS).
Digix also provides a comprehensive API, empowering developers to craft innovative applications that seamlessly integrate with its robust asset tokenization service.
Digix boasts a dual-token ecosystem, comprising Digix Gold (DGX) and DigixDAO (DGD), two distinct cryptocurrencies.
The company purportedly sources its gold from esteemed refiners sanctioned by the London Bullion Market Association (LBMA). To ensure utmost security, Digix incorporates rigorous third-party auditing courtesy of Bureau Veritas. Notably, the DGD crowdsale in March 2016 marked a milestone as the inaugural crowdsale and prominent Decentralized Autonomous Organization (DAO) to be hosted on the Ethereum network.