DigixDAO is a suite of smart contract (Decentralized Autonomous Organization) software created,deployed and implemented by an organiztion that is built on a platform reffered to as ethereum,the platform is responsible for tokenizing physical assets like land property,property rights and particularly in this case gold onto the Ethereum blockchains,specifically 99.99% London Bullion Market i.e (LBMA) approved Gold bars through a (PoA Protocol).The organization in this context is reffered to as DigixGlobal.
The software has a major aim of working in association with the community and individuals to control and develop a modern gold standard financial platform on Ethereum.
DigixDao constitutes a number of concepts that include the following;
DigixDAO TOKEN ;This entitles one to pledge for project proposals at DGX. it also allows you to claim a reward on transaction fees that is collected on the system in every quarter,these tokens are characterized by there divisibility to nine decimal placings and there transferability.
PLEDGING; The holder of a DGD token is entitled to pledge on the proposals that are usually submitted by proposers or Digix developers whereby the significance of the pledge is directly proportional to the amount of DGD tokens available in ones ethereum address.
GOLD ASSET OWNERSHIP BADGE; this is a diital gold asset card issued to a buyer of a gold bar as listed on the Digix web application market place Digix Gold Token (DGX) ; Each of these tokens represent a gram of gold ,and it is usually divisible upto 4 decimal places .they are usually kept in ethereum wallets.This wallet is the digital gold token minted from gold asset. The Dgx token is normally supported by a physical gold bullion – deposited with a custodian vault.
According to this ,the ownership of DGD token is a reward based return and not in anyway intended to be any form of loan based return.
DigixGlobal is the next generation digital gold platform ,it’s first concept of E-gold ,achieved a very huge annual transaction of approximately over two billion US dollars without any intergrations,this projects’ that if the people focused on developing DigixGlobal it can result to a great revolution in finace hence allowing the benefits to trickle down to the token holders.
Digixglobal is also guided by principles,laws and instructions for that matter, any user of digixglobal has to ensure he/she has a clear understanding and that they need to confirm their awareness to the risks involved.This platform also gives significance to taxation consideration
