After the sale of Orocrypt Inc. Share Tokens (OROC), the company will issue tokens representing the ownership of 30 grams of LBMA-quality gold in the final quarter of 2017. These tokens will provisionally be referred to as Orocrypt Gold Tokens (ORO.G). They will be registered on the Ethereum blockchain and owners will be able to store them in Ethereum wallets. Like any other ERC-20 token, they will be transferable and thus tradeable on open markets. Additionally, holders can convert them into physical gold through a very simple and transparent redemption procedure.
In the event of bankruptcy or closure of Orocrypt, holders of ORO.G may withdraw, sell or claim the underlying gold from Orocrypt or directly from custodial storage vaults. The specifics of these processes would be communicated to all token holders in a clear and concise manner. It is important to emphasize that because purchases of ORO.G does not grant ownership to the company under any circumstances, ORO.G holders are not exposed to Orocrypt’s liabilities.