Digix provides a use case for the tokenization and documentation of physical assets through its Proof of Asset (PoA) protocol. The PoA protocol utilizes Ethereum and the InterPlanetary Files System (IPFS) to track an asset through its chain of custody. This allows for the open and public verification of an asset’s existence without a centralized database. Digix also offers an API allowing other applications to be built on top of our asset tokenization service.
Dgx Tokens are minted via a Minter Smart Contract. Each DGX token represents 1g of Gold and divisible to 0.001g. For every PoA Card that is sent to the Minter Smart Contract, DGX tokens will be issued in return. For instance, a 100g PoA Card sent to the Minter Smart Contract returns 100 DGX tokens to the user.