We have 2 types of audit.
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 user ID.
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.
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.