DigixDAO wants to make another cryptographic money sponsored by genuine bars of gold. DigixDAO is the Digix Decentralized Autonomous Organization, a decentralized gathering of members settling on choices about how to become the Digix Global Ecosystem. Members bought DGD tokens in the "primary ever crowdsale on the Ethereum Blockchain."
The DGD token holders will settle on choices identified with any recommendations submitted to DigixDAO. As a reward for voting and basic leadership in the development of Digix, DGD holders get rewards identified with DGX, a token that speaks to 1 gram of gold. Their tokenization of gold plans to give dependability and store of significant worth in the digital currency space. Bitcoin is regularly alluded to as advanced gold, yet in this guide, we'll take a gander at how DigixDAO digitizes your responsibility for gold.
Keeping in mind the end goal to disperse DGX tokens speaking to 1g of gold, Digix uses Proof of Asset (PoA). The procedure includes recording ownership of a benefit on the Ethereum blockchain and the making of PoA Asset Cards. "The benefit cards are ensured utilizing consecutive advanced marks from the substances in the chain of care, to be specific, the Vendor, Custodian, Auditor, which are additionally approved with confirmation of procurement and store receipts gave and transferred onto the InterPlanetary File System for a perpetual record."
Digix makes it conceivable to purchase gold in an effective way through digital currency by giving speculators a tokenized adaptation of gold so you don't need to physically possess or store it. Digix has two digital forms of money, Digix Gold (DGX) and DigixDAO (DGD), every one of which serves a key part of the structure.