SBTV Interviews Shaun Djie: The Digix DGX - A Gold Backed Crypto Token

silverbullionsg (34)in #bitcoin • 7 years ago

Digix tokenizes physical gold bars on the Ethereum blockchain. We caught up with Shaun Djie, Co-Founder and COO of Digix Global (https://digix.global), on location at The Safe House vault (https://www.thesafehouse.sg) in Singapore where Digix stores the gold bars backing the DGX token.

In this interview, Shaun explains how the DigixDAO token (DGD) works and how the DGD differs from the DGX token. Also discussed was Digix's plan for DGX to be a stablecoin unlike most cryptocurrencies out there.

Discussed in this interview:
01:15 Shaun's start in cryptocurrency
03:02 What Digix Global offers
04:11 The DigixDAO (DGD) token
06:31 Digix Global's target clients
07:40 Why tokenize an asset like gold?
09:19 Why the Digix protocol is built on the Ethereum blockchain
11:56 DigixDAO - Incentivizing participation by DGD holders
14:06 1 DGX = 1 gram of gold, DGX stablecoin
15:46 Gold specifications accepted by Digix
17:19 The dream for DGX
18:00 Using DGX for payments
19:29 How many DGX tokens can be created?
21:20 Each gold bar is uniquely identified on the blockchain
22:44 How would DGX holders know the gold is there
24:08 Is backing a crypto with gold a step backward?
25:04 Re-cast DGX into a gold bar and the fee involved
25:58 Taking delivery of gold from Digix
26:44 Digix's focus for 2018, prospect of tokenizing silver