Business Update:

KYC 1.0

KYC Testing Phase V1.0:

KYC was launched last week and we invited the 3 community managers to test and provide feedback on the ease and flow of use. We are preparing for it to be released to the badge holders sometime this week.

Legal counsel hired:

Chen Shien, Teo — Company Counsel (First Legal Officer)

Chen Shien joins as the first legal officer for Digix to navigate the uncharted and ever-changing waters of blockchain regulation. He works closely with the board, technology team, regulators and external counsels to bring forward the Digix vision through ongoing regulatory developments and discussions, licensing and compliance requirements. He comes in from prior legal experience in the areas of general corporate and litigation practices. He was called to the Singapore Bar since 2016.

Web Designer opening:

If you’re skilled in UI/UX and Graphic Design (which includes advanced expertise in Photoshop, Illustrator, Adobe products), we welcome you to send in your resume and portfolio works for us to review. Coding is not mandatory, but preferred to be skilled in HTML, Java and React.

SEC’s opinion on The DAO and the subsequent MAS announcement:

We duly note of the announcement by our legal aides and we have not amended our position at the moment. Talks with legal representatives are still ongoing and it remains independent on the timeline/scheduled relaunch of the Digix Marketplace (DGX 2.0).

Technical Update

Anthony Eufemio (CTO)

Last week I talked about the Digix Trusted Price Oracle (DTPO) which we will be using for to allow users to purchase DGX gold tokens from the Digix Marketplace. This week we have integrated DTPO in the marketplace and have successfully run some test purchases:

You’ll notice in both of the test purchases there’s a section labelled “change due.” This is the ETH that is left after the purchase transaction which is held for the user for future withdrawal. Instead of sending the ETH back to the purchaser we have decided to use a withdraw pattern as to avoid re-entrancy issues when the payer is another smart contract which has a fallback function that requires more than the gas stipend for transfer(). (See: https://github.com/ConsenSys/smart-contract-best-practices#recommendations-for-smart-contract-security-in-solidity). In the next version of the purchase() function will detect if the originator is an externally owned account (EOA) and not a contract account and automatically send the change if the originating purchase came from an EOA.

Barring the completion of the DigixCore Marketplace contracts and the UI early this week, we are working on releasing the DigixCore Marketplace in Kovan hopefully later this week.

Chris Hitchcott (Core Developer)

Last week I deployed the beta of the KYC app and we have real users going through the process to provide feedback. As time goes on we will widening the user base from a select group of testers to the general public (and from test data to real data). We’re using “fullstory” to record user interactions with the beta KYC app, which gives us best possible idea of how long people took and if they got stuck anywhere. So far the feedback is that the process is very smooth, although (as traditionally, at this point) I did let a good number of typos through. Apart from this there were some minor UI tweaks and some refactoring to make the components more importable — which leads me to the main thing I was working on last week.

I completed the integration of the KYC process and User Login flow into the marketplace. Additionally I completed the integration of the DTPO (Digix Trusted Price Oracle) into Spectrum, which enables users to see a to-the-second real time quote when purchasing DGX. This is now fully wired up in the front end, tested and working on Kovan, and simply needs to have the the mock contract address be swapped out for the real thing. In the meantime I have been building out the rest of the marketplace components, including the user flow for the “Buy DGX” page, for various states (not logged in, not approved, approved, no address imported, etc.), and came up with a visual representation of live price feed using a realtime sparkline graph build with the excellent “Victory” library.

A (very rough) fully functional live price feed for DGX purchasing flow, using DTPO. Who says blockchains are limited by blocktimes?

This week, pending the completion of the main contract, I will hope to complete the marketplace components with a non-skinned version of the marketplace, which will mean it’s ready for alpha testing internally on Kovan. Following this — i18n, skinning and testing.