Anyone who's been extensively looking at the fundamental history of money should know that gold is money, and has almost always been money and the ultimate store of wealth. Some people will try to say that Bitcoin is a digital store of wealth, but increasingly so people are finding out that an unbacked coin may not be a store of wealth aspect; its value is derived largely from sentiment.

The Digix Organization is one of the most reputable companies in the crypto space that has been moving towards merging real money with the digital revolution.

A Digix coin is worth 1 gram of gold. Today on April 8th, you can now sign up and purchase DGX through their marketplace, and all you'll need is some identification and a valid Ethereum address.

View Digix Marketplace

The Bigger Implications

Could this be the real Bitcoin killer that the world has been wanting? Sure, other blockchain technologies that can be used as a currency such as Bitcoin and Stellar do have the advantage of being more liquid, however it's been a question of whether or not a fluctuating price (which is most of the reason in using Bitcoin at all) is a valid replacement for fiat cash.

I say, let the rise of the gold-backed cryptocurrencies commence. As long as the blockchain stands and they're able to keep the gold secured and available in multiple locations, we will now be able to trade the tangible asset with anyone else on the network, anywhere in the world.

DGX and DigixDAO

At the present moment, 8000 DGX coins representing 8000 grams of gold exist on the system. A gram of gold costs ~43 USD at the present moment.

Estimating the fundamental value of this coin, it could be said that the proper price of DGX should be the price of gold + a small premium for the service of having safe storage.

The token for holding a share of the Digix Organization is DigixDAO (DGD), and the coin is resting on a firmly established support line going back to the end of last year:

You can use DGD to have a voice in the governance of the organization, as well as claim rewards based on collected fees and participating in the ecosystem.