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Digital Gold is the Way to Go
Topic Started: 20 Aug 2015, 10:13 PM (659 Views)
Terry
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Straight from the horse's mouth.

Digix is first gold bullion dealer where you can then create divisible digital redemption vouchers secured on the Ethereum blockchain. These vouchers are essentially digital ownership assets that can be sent and received over the Ethereum Blockchain, and can also be redeemed for physical gold bars from our vaults.

For instance, your 100g bars could be divided into 100 * 1g vouchers to be sent and received by anyone in the world with an internet connection and Ethereum Wallet.

Digix plans to make gold a more spendable product in future. Right now gold is used mainly as a store of wealth, but liquidation charges are high. One needs to find a shop that accepts gold, get there safely and sell the gold at a significant discount to fiat before unlocking its value. We are trying to shorten that entire process by allowing you to digitize your gold ownership on the Ethereum blockchain, using vouchers to barter for goods or to transfer ownership with ease. Anyone thus receiving these vouchers can eventually redeem them for physical gold bars from us.

This concept is not new and has been around for ages. “Its roots were in merchant receipts of deposit during the Tang Dynasty (618–907), as merchants and wholesalers desired to avoid the heavy bulk of copper coinage in large commercial transactions” . With Ethereum, these receipts, or redemption vouchers, can now be safely transmitted online without the fear of duplication or double spending in the 21st century.

What has prevented this from flourishing in the present day are the several negative factors such as: bureaucratic permission gateways ie banks and financial institutions, significant intermediation fees, privacy issues, Seizures of gold (from various past DGCs without a decentralized system, and mainly occurring in the west), scams and the need for several points of trust.

We have considered several of these factors thoroughly and decided to set up our operations in Singapore, choosing renowned gold suppliers and custodians ( (publicly listed on the stock exchange and audited) for our gold. We will elaborate on all these factors further in our subsequent postings, but for now, we just want to give you a little background of the founders of this company.

https://www.dgx.io/
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Deleted User
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Thanks for the heads up - wasn't aware of these guys.

I've been researching BitGold, but Digix look a good option.
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Gossamer
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44th most prolific poster on APF

If you don't physically hold it, you don't own it.
Common sense is a curse - those who have it need to suffer dealing with those who don't have it.

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Nelson
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