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Author Topic: Digix partners with PundiX for digital trading of Verified Gold Bars using Block  (Read 132 times)

bitbybit

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Monday, 3rd June 2019 – Digix (DigixGlobal Pte. Ltd.) announces the official launch of its smart assets with Point-of-Sales solutions provider, Pundi X. This vision is made more possible and practical by the recent partnership between Digix and Pundi X, which will allow users of the Pundi X card to pay for their transactions using DGX at any XPOS-enabled counters.
Digix is the world’s first smart asset company harnessing blockchain technology to account for the provenance, verification, and storage movement of physical gold bars to its retail investors. Investors are issued with an equivalent digital proof, called DGX. Each digital equivalent of DGX is registered to a physical unit of gold in Digix’s vaults in Singapore or Canada.
Digix works with the goal of unlocking the fungibility of traditionally illiquid asset classes, and to create new avenues of financial inclusion for the future. read more https://www.techbullion.com/digix-and-pundi-x-partnership-aims-to-unlock-the-fungibility-of-traditionally-illiquid-assets-and-explore-new-means-of-promoting-financial-inclusion/


Paul76

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I don't know what xpos-enabled counters are  :) but I found very interesting the fact that one can exchange his gold for fiat in such a simply way, at point of sale.
This is effectively the same as using gold as a means of payment.

Using blockchain in order to guarantee provenance, verification and storage movement of the gold backing DGX... fantastic!

Just a remark about the article's wording:
"unlocking the fungibility of traditionally illiquid asset classes"

Gold is actually one of the most liquid assets within the financial markets.
Its daily trading volume is higher than that of the US Treasuries.

Plus, as money, it is recognised all over the world as money, unlike, e.g., the US dollar.
So, I wouldn't talk about illiquidity.

The problem is, walking around with pieces of gold in your pocket is not an option.
This is what the article refers to talking about gold's illiquidity

 

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