[Webfunds-commits] html/ricardo/contracts/digigold index.html

Mon, 18 Sep 2000 15:45:09 -0400 (AST)

iang        00/09/18 15:45:09

  Modified:    ricardo/contracts/digigold index.html
  Log:
  more notes on e-gold ; how the metal is stored

Revision  Changes    Path
1.11      +32 -2     html/ricardo/contracts/digigold/index.html

Index: index.html
===================================================================
RCS file: /home/webfunds/cvsroot/html/ricardo/contracts/digigold/index.html,v
retrieving revision 1.10
retrieving revision 1.11
diff -u -r1.10 -r1.11

--- index.html	2000/09/18 00:48:35	1.10
+++ index.html	2000/09/18 19:45:08	1.11
@@ -8,6 +8,7 @@
 
 <body bgcolor="#FFFFDD">
 
+<h1>DigiGold.net</h1>
 
 
 <a href="http://www.digigold.net/">DigiGold.net</a>,
@@ -25,6 +26,8 @@
 conditions.
 </p>
 
+<h1>Units</h1>
+
 <p>
 Each contract is denominated in
 grams as the <i>unit of account</i>, however,
@@ -178,8 +181,8 @@
 
 
 </tr></table>
-
 
+<h1>Governance</h1>
 <p>
 
     The ricardian contracts that are issued by DigiGold have the
@@ -199,7 +202,34 @@
 <blockquote><i>
     Should be an automated way of calculating this...
 </i></blockquote>
-    
+
+<h2>Cut to the Metal</h2>
+<p>
+    If you wish to go further and audit the e-gold system,
+    check out their
+    <a href="http://www.e-gold.com/examiner.html">Examiner Page</a>.
+    There, you can see the amount of reserve metal held in the
+    Toronto vaults of ScotiaMocatta, and the outstanding issued
+    e-metal.  As long as the circulation is less than the reserves,
+    e-gold Ltd has met its obligation to be 100% reserved, in
+    accordance with the bailment agreement that users have.
+</p>
+
+<p>
+    The only piece in this puzzle that is currently missing is
+    how to audit the actual amount of metal that ScotiaMocatta
+    holds in the Toronto vaults of the Bank of Nova Scotia
+    (owner of ScotiaMocatta).
+    Whilst the bank maintains its legacy conservatism and its
+<a href="http://www.scotiacapital.com/English/ScotiaMocatta/SM_Primary.htm">
+nominal web site</a>,
+    there is little to be done as yet, but pressure is on for
+    them to come to the party and display their reserve vault
+    in realtime.  Hopefully with a webcam <big><i>!</i></big>
+</p>
+
+
+<h1>Old Gold</h1>
 <p>
 Note that DigiGold has issued two gold contracts.
 The "Old Gold" one is the deprecated x.509 variety,






