Bringing Gold To The Blockchain [Digix DAO & DGX] Hedge

The idea of asset backed coins is actually very interesting, and they could be a useful tool to hedge against the more volatile coins in the market.

Tether (USDT) is an example but as we all know they have major issues, the most concerning is that they have not been audited by a third party to verify they actually hold the amount of reserves they say they have. Also, the speculations that they are in bed with Bitfenex without proper disclosure.

But just because USDT is questionable it does not take from the need of having an actual stable asset backed coin in the market. I am hoping Digix DAO & DGX could be the answer.

Like I wrote on one of my previous blogs (https://steemit.com/steemsilvergold/@cryptoaltcoin/silvergoldstacker-diversify-crypto-gains-gold-money) Ive been looking in to ways to diversify my crypto in to precious metals and Digix may be the best of both worlds.

Digix allows us to purchase 99.99% Gold from LBMA approved Refiners quickly and effeciently and they run on 0% Fractional Reserves.

Every DGX coin equates to 1 Gram of gold. We can trade or transfer small amounts of gold in a tokenized form while maintaining secure and private ownership over our digital asset.

Every asset is linked to a unique bullion bar sitting in secure designated custodial vaults. The provenance of the Gold is traceable, immutable and exists indefinitely.

A big difference between Digix DAO and USDT is the proof of asset protocol (POA). Digix developed a system of providing proof that the assets (Gold) actually exist. They will be conducting a quarterly audit by an established third party auditor, Inspectorate Bureau Veritas and launching that information in to the public Ethereum ledger.

Digix will also enable customers to take delivery of DGX at there partnering custodial vaults.

They are also launching a marketplace to allow users to trade on the platform, you can try the beta version by visiting the website.

Visit the official DIGIX website to learn more: https://digix.global/

Quick S/o to the steemit.com community #steemsilvergold@stackstackeruk, @raybrockman & @philimint. They spread knowledge on the value of gold and silver and hold contest to engage and support the community on a regular basis. Check there latest blog : https://steemit.com/steemsilvergold/@silverstackeruk/official-steemsilvergold-weekly-enrollment-and-membership-list-s-418

Also, head over to my website and become a free member to stay up to date with the crypto market. You receive my "Cryptocurrency 101" eBook as my welcome present.

Follow me on steemit https://steemit.com/@cryptoaltcoin

Also, head over to my website and become a free member to stay up to date with the crypto market. You receive my "Cryptocurrency 101" eBook as my welcome present.

https://www.cryptocurrencyaltcoins.com/