Digital Asset Backed Tokens Exchange
Orocrypt is a company that will issue tokenized assets. It will issue ERC20 tokens that will represent ownership of the digitised assets. Orocrypt is a gold-backed token. The company’s first product will offer gold investors a safe method to digitize bullion gold, convertible on demand and implement an online web platform to trade them.
They have decided to come up with the exchange or the platform where the gold and other assets will be tokenized in the future.
What Applicature Has Done
Applicature has implemented a concept in which every time you want to buy gold you just can buy the token, pay gold and orocrypt will buy the gold for you. Then Orocrypt will store it in the most prestigious banks that sell and store gold. It is a pretty complex system similar to any cryptocurrency exchange where you would have:
- a sign-up login
- a user verification
- an ability to put the order to buy the tokens
- the internal wallets
- the ability to compose and withdraw funds