More in depth info about the audit

We have 2 types of audit, public and private and I will go through both.

The public audit:
Every user is given an anonymous ID that only they know.
You can then go to the audit page (logged in or logged out so we don't know) and search for your code. 
You can see that your holdings are correctly represented and can safely assume that everyone else's is also because we can't tell when people are checking it so it would be far too risky for us to fiddle the numbers.

You can then scroll down and see the sum of all our users bitcoin holdings and gold holdings.

You can then compare the bitcoin holdings to the holdings in our cold wallets and warm wallets to make sure we are fully above reserve.

Private Audit 
You can compare the total gold holdings to the weekly vault operator Statement from Brinks Switzerland

You can also see the insurance certificate.

I see my account and it’s correct, (but that’s like logging to Bank of America and seeing your account balance - Is it true?)

Not exactly, the point is that you can do it without being logged in. That means you can check it without us knowing that you’re looking. 

Banks know when you’re looking at your account so they can show you the correct numbers. And you can't see everybody else's. This is called proof of liability.

Then a real bank would never show in real-time what liabilities it has in full. Vaultoro shows this and then proves through the audit, Vault operator statements and insurance papers as well as the bitcoin cold wallet and warm wallet addresses. This is called the proof of reserves.

In the very unlikely event that something happens to Vaultoro.
The independent Law firm get access to a real-time encrypted backup of every client current holdings.
A fourth party has the 2 factor to this file and both firms have been instructed to come together in the unlikely case of our demise.
Remember that Vaultoro does not own the gold, the Vaultoro members own the gold in full, and Vaultoro is just the trading, settlement and account keeping platform. 

The claims process would give people the option of receiving physical delivery of their gold or liquidating it for bitcoin and receiving the bitcoin.

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