Based on Ethereum, DigixDAO is a Decentralized Autonomous Organization (DAO). It uses blockchain technology to digitally verify and track the existence and ownership of physical assets, like gold.
Each asset is assigned a DGD price token on the network. 1 token is worth 1 gram of gold. The existence of the DigixDAO price asset is verified using a 3-pronged audit process. Once verified, the asset can be trace back to the original asset, allowing it to be traced all the way to the original owner.
Thanks to the decentralized nature of blockchains, DigixDAO is able to do all of this without the need for a centralized database.
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