Du Bois Gold AG is a gold legacy company domiciled in Zug, Switzerland, offering Du Bois Gold Receipts that indicate customers’ ownership of uniquely identified physical gold kilobars, held in a secure Swiss vault.
We provides our customers with a Gnosis multisig wallet to manage their account and transactions on the DBG web platform. Multisig stands for multi-signature, which is a specific type of digital signature that requires two or more users/devices to sign or authenticate transactions as a group. Gnosis is a well-respected and secure, open-sourced project and protocol creating decentralized architecture for the blockchain community.
In our case, DBG receipts stored on a multisig address can only be moved if multiple signatures are provided (which are generated through the use of different private keys). A customer can install the IOS app, effectively providing a unique private key, on different devices, and can link them with their multisig wallet.
These devices will then act as virtual users to provide the minimum number of approvals required for successful transaction submission. This multisig requirement creates an additional security layer that protects against simply hacking a customer’s account access, email, or sign in device.
The DBG Approver works to authenticate transactions by first requiring the customer to confirm transactions on the DBG web platform and then authenticate by scanning unique QR codes to provide the required second ‘signature’ in order to successfully complete the transaction.