The World Gold Miner Tokenizes Assets, Opens Up Trading On Coinsbit And Simex Exchanges
Grow Your Business, Not Your Inbox
In the recent times, we've seen a great hype and rush around crypto markets with big and small investors being drawn by promises of getting big rewards by a big group of emerging players. What followed after this was the majorly publicized ‘The Great Crypto Crash’ of 2018 that led to the failing or struggle of many coins.
That bubble busted because at that time many amateur players and investors crowded the market recklessly and quickly. Sustainable business model, critical details and on-boarding experienced management—these critical factors became afterthought, some of these also fell in the category of fraudulent ones.
We have entered into a new era of cryptocurrencies. It is undeniable that investors today are not blindly betting on the future, like it was done previously. We have all become more and more curious about use cases and actual revenues. Investors are not willing to throw money on just the ideas; they also need to ascertain that there is something for real.
GoldFinX is a next-generation fintech which is based on a very profitable and strong business model that has been architected in a way that it focuses on delivering long-term value and is vastly scalable. By targeting a much neglected sub-sector of the world’s multi-trillion dollars of gold market industry, the company has opened access for institutional and retail investors which enable them to tap into a failsafe and core opportunity.
This presents an opportunity which prevails during a high-growth, rapidly increasing segment of the gold extraction and production market, which is a consistently attractive and has lured investment at a price which has nearly increased by 10 per cent every year since 1971. Followed by a strong business model which has been designed and implemented by a well-versed team of experts, GoldFinX is concentrated on delivering long-term value. The initial phase of the project is expected to succeed and reach €15 billion in pure revenues within the first ten years itself.
GiX will be the GoldFinX’s fair trade cryptocurrency, whose value is enhanced and protected by gold. GiX is selling at €2 until it gets listed on CoinsBit on March 27, 2020. After this GoldFinX will go on live trading at the Coinsbit and Simex exchanges, users from all over the globe will be served by Coinsbit exchange, which has very fast withdrawals and deposit replenishment from Mastercard and Visa. The investors and customers from the US region will be catered by the Simex exchange.
The mission of GoldFinX is to restore faith among investors that it is still not late to mint enormous profits if they are investing in the right project.
A Business Model for Renewed Hope
The rise of blockchain technology and cryptocurrencies has opened a lot of extraordinary possibilities that were not easily available before. Majorly by throwing light on a sector which was hugely neglected earlier, this is ASGM (artisanal and small-scale gold mining). GoldFinX is going to address a major gap that was prevailing in this industry by enabling small investor to also participate and invest in this market and also being extremely lucrative for institutional investors.
These small-scale miners face a huge challenge when it comes to increasing their production because of the various factors such as hazardous and low-quality tools for their job which is one of the primary reasons for not being able to increase production, limited access to credit that can enable them to buy state-of-the-art equipment and scarce employment. A large number of people work in unauthorized or informal mines which do not comply with any safety regulations or industrial standards, inhumane work conditions and child labor are very common in such artisanal work operations. A little legal support is at the disposal of these operations because they operate in an unregulated manner and that is why illegal operators have more control over the flow of gold in these areas. They force these miners to sell their produce of gold at very less value compared with one which is actually prevailing in the market. With no legal protections and security measures these people face serious threats to health and well-being and the cases of injuries and death are also very common. Along with these problems, ASGM sector also poses serious ecological threats, widespread use of toxic chemicals in production processes including the use of cyanide and mercury which damages the environment, and also becomes the root cause of serious water and air pollution. Also the ASGM sector is solely responsible for around 40 per cent of the world’s total human-made mercury emissions. The major problem lies where they have limited access to credit that can enable them to buy state-of-the-art equipment which will provide an environment-friendly and safe extraction. In order to do this, it is vital to formalize the ASGM industry.
The GoldFinX Solution Already Underway Today
GoldFinX’s blockchain technology will be able to address many of the problems that are faced by the ASGM industry. To start with, it will provide a decentralized way for small miners and artisanal to boost up their capital through selling digital assets. Inclusion of such financial boost up models, which was not possible 10 years ago, will provide an opportunity to these miners to direct these crowd-funded investments for buying state-of-the-art equipment, not taking loans from informal lenders and pay huge commissions or interests, and gaining access of the markets which were otherwise not available to access through traditional means and improving processes.
All these changes will help the ASGM industry to increase their production from around 2,000 to 5,000 per cent with enhanced capabilities. Using blockchain, GoldFinX will also be able to establish a supply chain system which will precisely store the proving documents of the gold which is stored to make sure transparency and that it is fully validated, aligned with all regulatory requirements and traceable.
GoldFinX has already initiated their proof of concept within the Ivory Coast. The first project of GoldFinX’s has already produced 2 kg of gold so far and it is expected that it will produce 5-10 kg of gold per month, once their mine is operating at its full capacity which is expected by the end of May. Also it is predicted that other mines which are within the Ivory Coast will also begin their production processes shortly, and the mines in Canada and Tanzania are expected to imitate their production processes in the coming months of summer. These artisanal gold mines, which are active, will be the basis of diversification of risks which will come in handy when more mines are operational towards the end of the year.
In return for financing the small-scale miners, GoldFinX will receive 20 per cent of the total share of the entire production for the lifespan of every mine. The initial phase of the project is projected to succeed and reach €15 billion in pure revenues within the first ten years itself out of which around €2.5 billion will be held in reserves residing in Swiss Bank.
This would mean that the net value of the cryptocurrency is protected and stabilized by the physical asset which gives coin holders an additional level of assurance and security which is a kind of a hedge against any macro volatility. Thus, the GiX combines together the most advanced features of stable coins and fiat currency.
The GoldFinX’s real purpose is to actually empower small-scale miners and eventually get them worldwide recognition. GoldFinX in this scenario would be acting as a platform which is bridging gaps between an investor to an investment opportunity which was previously inaccessible, and also giving miners the access and opportunity to profitable growth at the same time.
Further, by acquiring GiX, investors will be directly taking part in transforming miners’ working conditions and growth, helping in making the world a better place from environmental perspective and also making good investments simultaneously. ‘Doing good’ is simply good business sense.