I remember how my grandmother had this tiny silver chest where she kept all her valuable assets. The tarnished box was a delight to her – she kept it very fondly and with utmost care and none of us were allowed to touch it. I had always been very curious to know about it. Towards her last days, Grandma allowed me to really open it for her so she could keep her last asset – a handmade card I had made for her – in it. Inquisitively, I asked her if I could have one too, for keeping my possessions in the future. It was then that she told me I wouldn't need one, because my resources would be different.
Fast forward today, Grandma's words are indeed true. I do not have any letters or cards to preserve as valuables. The world and all its means have become so digitized that assets have become virtual too. The one thing that remains the same is the need of a chest, a tarnished silver box, to preserve and secure these digital assets.
The world of cryptocurrency is growing at an unbelievable stride. The transparency and security this fiscal system offers is the reason behind its well-paced and popular success. Sooner or later, this will take over the conventional currency system, and a majority of the people shall boast of digital assets. In the face of the digital market, DAGT, a decentralized digital system for monitoring, storing and improving the value of digital assets, comes to the fore as a helpful and innovative tool.
What is DAGT?
DAGT, standing for Digital Assets Guarantee Token is a virtual platform with a vision to combine the benefits of blockchain technology and the increasing value of digital assets, to give the user a simpler, cost-effective and efficient credit model. DAGT assures of improved loan services and post-loan management.
Digital assets, on any platform, can be tenable to circulate funds for everyday use such as shopping and touring, and this sector shall definitely inflate in the coming days. With the varied services offered by the DAGT platform combined with the conviction fostered by blockchain technology, lending and handling these assets becomes safer, more transparent and economical.
How does DAGT incorporate the Blockchain technology?
DAGT uses the very skeleton of blockchain technology – its concept of decentralization – to the best use by creating a system that guarantees secure asset storage and transference. Since there is no third-party involved, there establishes a direct dependable bond between the lender and the DAGT platform.
The inculcation of the blockchain technology into the system hence makes it all a lender needs it to be – competent, inexpensive, clear, safe and comprehensive.
How do I use DAGT for my digital assets?
Any credit holder can secure his digital assets using DAGT by first registering himself through an easy process on the platform, followed by saving his assets on a virtual wallet on the same. Based on the creation of a 'Letter of Credit', the loan shall be approved and can later be repaid by the user as per the requirement.
The DAGT Token
The medium of exchange and quantification of expenses on the platform is the Digital Assets Guarantee Token (DAGT) and can be seen as a means of uniform interaction between the user and the service. Be it any transaction, any exchange – the token remains an unchanged smart and resourceful mode of contract.
The DAGT token is a non-refundable medium of exchange that cannot be switched for any other mode of currency, even cash. The ownership of a token doesn't confer any further interests upon the credit-holder, nor give him any rights over the Foundation or its revenue assets.
How does DAGT work?
There are three basic models DAGT can be broken into for analysis purposes – the Risk Deposit Model, the Security Reserve Model and the Token Sale Model. The basic underlying principle of DAGT is that a minimum of 40% of the tokens shall remain reserved to be used in unforeseen situations for the lenders, through smart contracts. 50% of the credit fees shall be allocated to the security reserve to further strengthen risk-immunity. The sale model for tokens, hence, involves a percentage distribution – 10% for marketing, 20% for pre-sale purchases, 40% for risk deposit and 20% for business promotions of the foundation. The accepted currencies are ETH and BC.
Verdict
DAGT is no less than a crisp and professional credit system which relies on the principle of decentralization, thus assuring greater transparency and security than its mainstream counterparts. In any loan agency, trust is the biggest factor for a credit-holder. DAGT, with its efficient blockchain architecture, successfully provides just that.
Website: http://dagt.io/
Whitepaper: https://www.dagt.io/pdf/dagt_en.pdf
Blog by yalsik.s
Profile: https://bitcointalk.org/index.php?action=profile;u=1943321