You will be competing with Digix. When do you anticipate having an MVP?
The first product of Orocrypt, a Gold token, will be released in the third quarter of 2017. The holders of Gold tokens, which represent ownership of the physical gold bullion, are able to redeem them for physical gold at any time.
We welcome competition. Gold demand by consumers and investors was over 3,000 kilos in 2016. This is around 120 billion dollars at today's gold price. The market is so big, that there is more tnan enough space for Digix, us and many more. Also out token will be different.
What happens to the gold and token holders in the event of an OROCRYPT bankruptcy or government action on the company itself?
Holders of tokens, which is legal title to the gold acquired, do not grant title to the company. In the event of bankruptcy or closure of Orocrypt, holders of tokens, which is title to the gold acquired, may withdraw, sell or claim them, through Orocrypt or directly to the storage vaults.
Concerning share tokens (OROC), we’d like to say that investing is highly risky and investors can lose all or part of their investment. However, the investment also has the potential for considerable profit.
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