For an investor, tokenisation of precious metals such as gold is advantageous since the digital proof of verified ownership makes for easier and quicker transactions anywhere in the world. By applying blockchain technology to assets such as precious metals, investors are able to go beyond the traditional limits of the precious metals market and have full control over their assets at any point in time.
Up until the emergence of blockchain and tokenisation, the structure and mechanics of capital markets have remained unchanged for decades. Technology has now transformed how we leverage investment opportunities across a growing number of asset classes. In fact, the Digital Finance Co-operative Research Centre (CRC) which is a consortium representing some of Australia’s biggest industry sectors projects that the volume for “tokenised assets” is expected to grow from a minuscule amount today to $US24 trillion ($32 trillion) by 2027.
“blockchain and other [distributed ledger technologies] are set to become a fixture in financial markets in the years ahead, and may eventually lead to structural changes to market processes or even the market itself”. - Gred Medcraft, Former ASIC Chairman
Buying Silver and other precious metals on Dacxi
In the Dacxi platform, everyday investors can buy/sell precious metals (Gold, Silver & Platinum) through tokens that are fully backed by the physical metal. In the instance of the Dacxi Silver Token (DXST), each Dacxi Silver token in circulation is backed by one ounce of silver bought and stored in the vaults of reputable bullion dealers in Australia and the United Kingdom.
DXST is an ERC-20 token minted on the Ethereum blockchain which is the largest general blockchain network. As per the ERC-20 protocol, the token’s smart contract follows a standard characteristic (i.e. name, symbol, decimal precision, etc.) The total number of tokens and token balances can be tracked on the blockchain for full transparency.
Did you know
- The first metal used as a currency was silver, around 600 B.C.
- Silver is the most reflective metal and element, It reflects 95% of the visible light spectrum.
- The words for ‘money’ and ‘silver’ are the same in fourteen languages. (E.g. Argent & 银)
- Silver has multiple industrial uses. They include solar panels, batteries for medical devices and space travel.
“Dacxi has provided me with a high integrity, simple platform on which I could get started and manage my digital investments.” - Graeme D.
The Dacxi Advantage
Dacxi is a pioneer of digital assets and tokenisation. Dacxi’s proprietary technology and platform provides everyday investors with access to a carefully curated catalogue of investment opportunities, including select cryptocurrencies and bundles.
Dacxi’s catalogue also includes tokenised precious metals, one of the oldest asset classes in existence. Dacxi’s exchange provides individuals, Australian SMSFs and companies unprecedented access to build a portfolio of precious metals.