GoldMint, a
blockchain-based startup that helps gold owners profit from digital assets
backed 100 percent by physical gold, recently announced an innovative
collaboration with the mineral production company Eurasia Mining.
GoldMint’s
board of directors and nominated advisors demonstrate significant experience in
the rapidly developing world of blockchain technology. Their creative vision is
to redefine the architecture of the physical gold market by fostering the
necessary infrastructure for physical gold to be traded faster, more
efficiently and more transparently. Over time, they expect this will usher in a
paradigm shift for the entire gold industry.
In Q1 of 2017, GoldMintofficially opened its digital doors with the objective
of introducing a new digital gold model. This project is primarily directed
toward delivering gold ownership solutions for cryptocurrency investors and
enthusiasts worldwide. The GoldMint project is based on the basic belief that physical
gold is a stable method of payment and wealth preservation, predicated on the
qualities of value and scarcity. Gold ownership, however, requires expensive
security, safekeeping and insurance. GoldMint’s innovative approach seeks to
address these inherent issues with gold ownership. The GoldMint ICO, which launched on September 20, will offer
a new means of exchange for gold: transactions are managed over a blockchain-based
platform, and are backed 100 percent by physical gold. This platform will
access the private and individual gold trading market — and potentially the
larger physical stocks, such as those in central banks. It will also provide an
electronic payment solution backed by physical gold, as well as a system for
gold-backed peer-to-peer lending.
Through this
agreement, GoldMint is establishing a method for applying blockchain-based
technology to the development of resource industry projects.
Based in the
U.K. and Russia, Eurasia Mining is a platinum, palladium, iridium, rhodium and
gold production company with a long-standing history in mineral exploration. It
has a fully operational mine in Russia’s Ural Mountains, as well as the
exclusive rights to participate in up to 67 percent of the Semenovsky
Gold Tailings Project, a project demonstrating significant near-term gold production
potential.
With its roster
of projects under development, Eurasia is now seeking a fresh set of solutions
for bringing these projects to market. The company has a proven track record in
successfully developing mineral exploration projects through innovative means.
Currently, Eurasia is following ongoing advancements in the worlds of
crowdfunding and blockchain technology to assess how these trends can be
applied to the world of gold production, exploration and resource development.
These efforts
align favorably with GoldMint’s strategic intent of aligning blockchain technologies
with the resource industry in order to create greater fluidity among
transactions backed by physical gold.
Co-founders Dmitry Pluschevsky, who was a co-founder of LOT-ZOLOTO, and Konstantin Romanov later realized that
blockchain technology could be applied to the business dealings of
international gold markets, making transactions in physical gold more
accessible, efficient and transparent.
In addition,
GoldMint will deliver an automated machinery solution called Custody Bot for
the immediate tokenization and sale of physical gold at high street locations.
Pluschevsky said that several emerging trends are currently
influencing GoldMint’s strategic direction. These include the expansion and hyper-volatility
of the cryptocurrency markets, the instability of fiat money and world
financial uncertainty.
“We plan to build a global peer-to-peer system of crediting
secured by gold so that some people would be able to help others regardless of
politics and without risk for both sides,” noted Pluschevsky.
The strategic partnership between GoldMint and Eurasia, then, is
one that promises to bring advantages to both sides.
“While the final Eurasia/Goldmint, blockchain-based solution
applied to the mineral exploration and resource extraction industry has yet to
be fully determined, the potential upside is high in terms of being able to
partly replicate the royalty streaming business already proven to be very effective
in the mining industry,” Pluschevsky concluded.
For more about GoldMint, review the white paper.
Note: Trading and
investing in digital assets is speculative. Based on the shifting business and
regulatory environment of such a new industry, this content should not be
considered investment or legal advice.
The post GoldMint Partnership Signals Strategic Advancement appeared first on Bitcoin Magazine.
Read more on @BITCOINMAGAZINE