Philip ScigalaAdminPhilip Scigala (Founder, Vaultoro Limited)

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  1. 5 votes
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      Philip ScigalaAdminPhilip Scigala (Founder, Vaultoro Limited) commented  · 

      Vaultoro is the most transparent exchange and gold provider in the industry and with our transparency protocol we do more than everyone else, because trust and our users are important to us.

      I understand that these documents can be perceived as an issue. We get all the documents from Pro Arum. And even though if a "Pro Aurum owned server" would deliver the documents, it would not mean they are more correct, it actually defeats the purpose of our chain of trust:
      The chain of trust works currently because it has multiple parties involved. We trust Pro Aurum and you trust us displaying the document. And Pro Aurum trusts us in return to not edit the documents, and they check! They would never allow for us to publish false documents because they would loose face if they would work together with a fraudulent party. We are working with Pro Aurum since two years and the chain of trust is working really good. Our users trust us because we are working with an established gold trader like Pro Aurum.

      There is always ways to improve trust, but providing documents from another server is not one of them. Another user suggested "digitally signed" documents. Even if documents are digitally signed there is no proof that the contents of the documents are correct. But if two or more parties are involved (Vaultoro, Pro Aurum, BDO), we are checking if they do they job, and they check if we do our job correctly. BDO is on top of that a very trusted instance auditing the Pro Aurum precious metal holdings.

      We are always open for suggestions how we can improve!
      Thanks for thinking about it and supporting Vaultoro.

    • 4 votes
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        Philip ScigalaAdminPhilip Scigala (Founder, Vaultoro Limited) commented  · 

        We will enable Bitcoin Cash withdrawals when the software and the network of Bitcoin Cash is ready and stable, we do not want to risk loss of users funds.

        Philip ScigalaAdminPhilip Scigala (Founder, Vaultoro Limited) commented  · 

        Hey Ken. if you read the statement again you see we allow withdrawing the split Bitcoin. So no worries

      • 2 votes
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          We explicitly say “Gold holdings are audited once every week and only on working days”

          The holding document is updated once a week. The others (BDO and insurance) are updated once a year.

          Normally the update is on Mondays. Sometimes there are more updates due to a lot of activity.

          We always try to improve the process and making it more real time(ish). Thanks for your suggestion with the date.

          Philip ScigalaAdminPhilip Scigala (Founder, Vaultoro Limited) commented  · 

          The BDO certificate gets updated once a year. It is due December 2016. The last one is from december 2015.

        • 5 votes
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            Philip ScigalaAdminPhilip Scigala (Founder, Vaultoro Limited) commented  · 

            This is on our to do list. Depending on the currency a . will be displayed as , or vice versa. This is different in a lot of countries.

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