OpenLedger, the
decentralised cryptocurrency exchange based on BitShares blockchain
technology, is adding DigixDAO trading to its platform from 28 April.
Recently DigixGlobal, which tokenises gold using Ethereum, met its
entire crowdsale target in just 24 hours.
OpenLedger was founded by Ronny Boesing, CEO of Danish cryptocurrency exchange CCEDK. Boesing said in a statement: "
Ethereum
is fantastic, but it wasn't designed for fast, decentralised asset
trading. OpenLedger was created with exactly that in mind. Transactions
process in seconds. It's fast, secure, reliable and transparent. If
Ethereum and DGD provide the means of minting digital gold, OpenLedger
provides the perfect market on which to buy and sell it. Ethereum is one
of the many other crypto coins that can be traded on OpenLedger, along
with BTC, LTC and a range of pegged fiat equivalents such as BitUSD."
He said an exclusive arrangement between Digix and
OpenLedger has been hammered out. From April 28th, OpenLedger will start
listing Ethereum assets, including DGX gold-backed tokens and DigixDAO
(DGD) tokens, which represent a share of the revenues generated from
transfers of DGX.
Boesing is building out what he calls a "decentralised
conglomerate" in crypto-friendly Denmark. This latest collaboration will
help bridge the worlds of blockchain-based representative tokens and
physical assets, he said.
"
What
you are seeing here is a democratisation of the investment industry.
Previously, it would often be prohibitively expensive to buy small
amounts of gold – certainly physical gold of which you actually took
receipt in person. And even if ordinary investors were able to buy paper
or regular digital gold without getting hit by fees, transferring it to
another person is fraught with difficulties and costs.
"OpenLedger means you
can buy and send someone a fraction of a gram of gold, without worrying
about spreads or transaction fees or delays or ownership records. It's
incredible that almost a century after most of the world came off the
gold standard, we now have the means to use gold as an effective payment
mechanism once again – not as a new gold standard, but as one of many
parallel currencies on the blockchain."
OpenLedger is based on BitShares 2.0 MIT-licensed Graphene blockchain
technology. Anyone is welcome to join and participate, and the entire
decentralised network reaps the benefits of cross-promotion.
DigixDAO raised $5.5
million in just 12 hours for its gold tokens initiative. Running on the
Ethereum blockchain, the company will facilitate the "minting" of tokens
that each represent one gram of gold, securely stored and audited by an
established vault gold company. These DGX tokens can be sent anywhere
in the world and are divisible down to 0.001g – lowering the entry
barrier for gold investment, and even allowing individuals to pay each
other with gold online.
A proportion of the transaction fees from these transfers
will be paid to DigixDAO holders who purchased the DGD token at ICO.
However, Ethereum is a smart contracts platform, and not designed for
the rigours of the modern marketplace.
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