How can you be sure that your coin will be backed by gold is valid ? You will need to periodically conduct an audit to the coin had value . Who will conduct the audit ? or do we have to take our word for it ? Thanks.
Our auditing plans are addressed in the 'Auditing' section of our whitepaper, and below is a copy of the answer given earlier in this thread to a similar question, which we trust addresses your point:
"Thank you for raising a very valid point. Auditing is being done by Deloitte, one of the leading companies in that particular field. Initial audit will take place immediately at the close of the ICO to confirm the money flows from incoming crypto, fiat conversion and subsequent gold purchases. It enables investors to track for themselves that all funds have been converted into gold, with no leakage. It will also show more generally the connected legal provisions governing the use and conversion of these assets. After that, we will be having interim compliance audits every six months in addition to full end-of-year accounts as normal. All of this information will be accessible to investors."Kindest Regards
Auric Communications