Digix Gold Token – DGX is a token representing 1 gram of gold.
DGD is the DAO system governance token. System includes Digix Badges (DGB).
Digix Whitepaper describes a much interesting Proof of Asset protocol. ‘The PoA protocol utilises Ethereum and the InterPlanetaryFiles System (IPFS) to track an asset through its chain of custody’.
Issuance of DGX are linked to PoA Asset cards recording permanently updated information of: Time Stamp of card creation; SKU of the gold bar; Bar Serial number; Chain of Custody digital signatures (Vendor, Custodian, Auditor) ; Purchase Receipt; Audit Documentation; Depository Receipt; Storage fees due.
Despite the fact that agents (Vendor, Custodian, Auditor) taking part on the verification process are expected to act rationally, multi-party trust mechanism and incentives are set to mitigate the reliance on trust.