Digix joins ranks of pioneering DAOs in Singapore

Singapore. 28th March 2019 – Digix, creator of the world’s first asset-backed digital gold token, will launch its DigixDAO platform, joining the ranks of some of the first Decentralised Autonomous Organisations (DAO) in the world. As of 30th March, those who own DGD tokens can now contribute and vote on proposals to grow and improve the Digix platform.

DigixDAO invites the community to expand the business strategy of increasing adoption in DGX gold backed tokens by submitting proposals to fund this vision. The DigixDAO governance platform enables DGD token holders to moderate, approve, reject and comment proposals to accelerate the growth of the DGX ecosystem.

Anthony Eufemio, Co-Founder and Chief Technology Officer, Digix, says: “Over the last three years, Digix has worked to meet the growing demand for a more democratised way of owning and investing in gold. As we expand our offering to wider assets and markets, the DigixDAO platform will enable us to double down on these efforts and harness deep insights and ideas from the public, while introducing a more democratised future for corporate governance in Singapore.”

Loi Luu, CEO, and Co-Founder of Kyber Network, says: “The launch of DigixDAO adds to the momentum we are seeing for decentralised organisations in Singapore. Together with other DAOs, we are working towards a future where less traditional, less central ways of governing and growing organisations can flourish. This will collectively accelerate the adoption of blockchain technologies and make its benefits more tangible to people in Singapore and beyond.”

The DigixDAO launch follows Digix’s recent selection by Enterprise Singapore’s Tribe Accelerator programme, launched on 27th March. As part of the first batch of startups, Digix will participate in a series of global roadshows showcasing Singapore ’s ecosystem of blockchain technology and work to bolster its ability to encourage widespread adoption of owning and investing in hard assets among everyday users.