Tech Progress and Update

We have made contact with 2 smart contract auditing companies that could help us with our upcoming smart contract audit. These 2 firms are specialists in the field of smart contracts on the EVM and are also members of the EEA (just as we are). One of them was recommended by our close friend Andy Milenius, who is working on MakerDAO and the SAI / DAI stablecoin.

Our previous auditors are now busy with their own projects, hence it will not be an option to engage with them at this moment.

As soon as we can firm up an agreement we will be sure to announce who we are working with for our security audits.

Tech Roadmap update

Work done this week:

CDAP Unit Testing moved from 80% to 100% completed

Asset Explorer component moved from in progress to 95%, awaiting UI work

Digix Admin moved component from 80% to 90%

Core 2 Unit Testing moved from 45% to 80%

Updated Roadmap can be found here.

Food For Thought on Digix’s tech and the competition

We wish to forewarn any readers and users of Ethereum out there, that if a company is not open about who they are engaged with for the audit of their smart contracts, or not even demonstrate that it was audited or looked over, yet rushes the launch of their product, you ought to be suspicious as to whether or not they know what they are doing (apart from trying to be the first to launch).

Word on the street is that competition is coming, that other gold projects will be live before us.

We always take them with a pinch of salt. Why? Below is a quick checklist to ask the founders of these projects:

Are the contracts battle tested by a 3rd party auditor? Is the solution fully built on the public blockchain? Can you transparently and easily identify how the gold is kept, audited on chain, even if you are not a customer of the product? Can they show you in real time their entire inventory, timestamped and immutable using blockchain technology?

If one can answer No to even one of the above questions, then they are not a competition to Digix. Digix is a solid Yes to all the questions stated above.

Digix exists to create a transparent, auditable, traceable chain of custody of gold assets, before any tokens can be minted into this space to be used with killer DApps. That is the guarantee at Digix, which no competition comes close.

Anyone can create an ERC20 token and claim that they are gold backed, but Digix is the only gold backed Ethereum token that provides accountability, provenance, verifiability, and auditability. This is the only way to ensure that each DGX token is fully backed by 1 gram of gold.

Business Update

Radar Relay and Digix

We worked out a partnership with Radar Relay to have our tokens listed at launch. This entails providing us a staging environment set up on the Kovan test net, working closely with us to ensure a proper listing of the token when we are live. More information can be read in our recent announcment here https://medium.com/@Digix/radar-relay-digix-oct-31st-2017-7cf5dbec19a0

Indonesia Roadshow Recap

Last week, Shaun was out to Jakarta (Indonesia) to meet with the community and spread the word on Ethereum and Digix. He spoke at the inaugural Ethereum Indonesia Meetup group on a “Blockchain 101” themed keynote to an audience of approximately 35–40 people. There were not too many developers at the event, but mostly crypto investors, retail and corporates, who wanted to find out more about what the Ethereum ecosystem is like. It still remains very much a Bitcoin dominated space.

Shaun in Indonesia

From L to R: Jack (Crypto Enthusiast), SwipeCrypto Team (Founders of Ethereum Indonesia), FBG Capital

PundiX Integration

During the visit, Shaun met up with a startup from Indonesia who is working on prototyping a crypto-currency point of sale terminal gateway, called PundiX. They will be at the Digix Office this coming week to discuss an upcoming partnership on the integration of DGX tokens into their terminals.

On another note, Shaun also visited the gold partners in Indonesia, who are primarily involved in digital gold issuance across the country. We have been in the midst of discussing of an asset tokenization solution for them to use in their platform for their customers at large.

AppCoins — 3rd Largest App Store with 200 Million users

AppCoins will solve several inefficiencies that are present today in App Stores. On one hand, it will allow developers to acquire new users directly and on the other hand it will allow unbanked users to make in-app purchases for the first time.

AppCoins will be talking about the inefficiencies we see today in the App Store business (e.g. Google and Apple taking 30% cut on in-app purchases) and how with Appcoins, blockchain technology can be utilised to solve those inefficiencies (e.g. App Stores will take a 10% cut instead).

About the speaker:

Tiago has over 12 years experience in technology related roles. He is a Software Engineering graduate from the University of Macao, with a Master Degree in Mandarin and an MBA in Tech Management from the University of San Francisco.

About the project:

Simple Token “ST” is a utility token that enables any company to create, launch, and manage their own branded digital token economy, powered by Simple Token protocols and software.

The OpenST protocol enables companies to stake Simple Tokens against their own Branded Tokens, minted on open scaleable side blockchains, in a cryptographically auditable manner.

The Simple Token SaaS platform gives companies the tools to manage, customize, monitor, and analyze their token economy.

View the entire 63 page project deck http://bit.ly/2y9n2hW

Docs, white papers, side papers: https://simpletoken.org/documents

Video: 90 second explainer video

Video: Simple Token presents at the IMMUTABLE conference in Hong Kong

http://bit.ly/2gNiJRI

About the speaker:

Jason Goldberg is a veteran internet entrepreneur with a 18 year history of scaling products to millions of users. Since 2016, Jason’s passion has been to drive mainstream consumer adoption of blockchain technologies. Jason previously founded Pepo, Pepo Campaigns, Hem.com, Fab.com, Social Median, and Jobster; was Chief Product Officer at XING AG, and led strategy and product teams for T-Mobile and AOL. Jason splits time between Berlin, Germany, Pune, India, and Hong Kong