DigixGlobal, a decentralised digital gold asset platform on Ethereum blockchain, announces the crowdsale of DigixDAO tokens. This will allow users to directly manage the operation of the company.

DAO stands for Democratic (or Decentralised) Autonomous Organisation, which in this case aims at the building of a digital gold standard economy. The idea is that buying DigixDAO tokens allows customers to choose directions of research and development for the platform by suggesting decisions and voting for project proposals. As DigixDAO holders submit development opinions, which are registered on the blockchain, their participation is rewarded every quarter with Digix Gold Tokens worth 1 gram of gold each, the company explains.

“There will be a lifetime supply of 10,000,000 DigixDAO tokens. A holder of 1 token will receive a pro rated 1 / 10,000,000 of transaction fees collected by DigixDAO every quarter.”

The company figures out the most popular projects and the work begins. Referral rewards are also offered for bringing new users into the Digix ecosystem.

“Whenever you send Digix tokens, the DAO itself will collect transaction fees, in terms of Digix tokens and that could be dispersed back to the token holders," said Kai Cheng Chng, co-founder and CEO, as reported by International Business Times.

All other digital gold systems suffer from the silo problem, meaning the lack of communication between the branches of the system, claims the company. DigixGlobal solves this problem by using the Ethereum blockchain. DigixDAO makes another step forward, providing constant feedback from the participants, registered and analysed via smart contracts.

With its digital wallet, DigixGlobal facilitates P2P lending by means of its Digix Gold tokens, each of which represents one gram of gold and is divisible to 0.001 gram. This implies building a digital gold standard economy, claims the company, because all the tokens are fully redeemable.