The GoldFinX blockchain will allow you to track gold at all stages of supply, from its production to its final destination, to verify the legality of ore mining.Recently, in search of easy and big profits, to the crypto market have come many new investors who thoughtlessly invested money and manipulated the price of cryptocurrencies, as a result of which this Big Bubble burst. The great and terrible “Crypto-disaster of 2018” happened during which many coins either lost their entire price or still have not regained their position. And although some projects were fraudulent, most startups only too late realized the importance of creating a truly viable, crisis-resistant management system.Now the situation has changed a lot. Investors no longer want to take risks and thoughtlessly invest
Topics:
CoinSpeaker Staff considers the following as important: coinsbit, gix, gix token, gold miming, goldfinx, Guest Posts, mastercard, News, p2pb2b, simex, tokenized asset, visa
This could be interesting, too:
Bilal Hassan writes Morocco to Become First Developing Country with Clear Crypto Regulations
Bilal Hassan writes Cryptopia Liquidators Distribute 0 Million to Victims of 2019 Hack
Bilal Hassan writes Mo Shaikh Steps Down as CEO of Aptos Labs to Start New Chapter
Bilal Hassan writes FTX Announces January 2025 as Effective Date for Reorganization Plan
The GoldFinX blockchain will allow you to track gold at all stages of supply, from its production to its final destination, to verify the legality of ore mining.
Recently, in search of easy and big profits, to the crypto market have come many new investors who thoughtlessly invested money and manipulated the price of cryptocurrencies, as a result of which this Big Bubble burst. The great and terrible “Crypto-disaster of 2018” happened during which many coins either lost their entire price or still have not regained their position. And although some projects were fraudulent, most startups only too late realized the importance of creating a truly viable, crisis-resistant management system.
Now the situation has changed a lot. Investors no longer want to take risks and thoughtlessly invest money for luck. The real usefulness of the project, its financial strategy, which will allow you to earn money, is currently appreciated. Investors do not need ideas, they want to see the practical application of these ideas.
Introducing GoldFinX, a new financial technology built on a strong business model that scales and retains its value over time. The company opens up a gold mining market for private and institutional investors, taking care of improving the quality of life and the environment. The market turnover reaches several trillions of dollars..
The growing gold mining industry has opened up the forefront of attractive investment at 10% per annum since 1971. The scalable and reliable GoldFinX business model is developed by world-class experts. The creators of the project plan for the first 10 years of the project to make a profit of $ 15 billion.
The GiX cryptocurrency, the value of which is supported by the value of gold, is sold at a price of $ 2 per 1 coin before listing on CoinsBit on March 27, 2020. After initial launch of trades on Coinsbit on March 27, GoldFinX will be traded after as well on Simex and P2PB2B exchanges. Users from all over the world will be served by the Coinsbit exchange, which has fast replenishment and withdrawal of deposits from Visa and Mastercard. Simex exchange will work with customers from America. The mission of the project is to return people’s faith in cryptocurrency projects and prove that it is possible to conduct good business in this area.
Updated Business Model
Thanks to the advent of cryptocurrencies and the development of blockchain technologies, we have received previously inaccessible opportunities. Which, in turn, affected the conservative sector of gold mining. GoldFinX’s simultaneously meets the needs of the market, and also makes this area attractive to investors, including institutional ones.
Small mining companies are faced with the problem of expanding production, as they often use outdated equipment and ore mining methods that are hazardous to the health of workers. Without external lending, they are unlikely to be able to solve their problems. Without new equipment, as well as without competent control systems, they will not be able to increase their productivity.
Another problem is the limited employment that people who do not receive enough money from the agricultural sector to support families need. Most of them are forced to work in illegal mines without any safety and labor protection. Child labor is often used at such mines, and businessmen who control such mines sell gold much cheaper than its market value.
Deprived of safe working conditions, people often lose their health, and sometimes their lives. Unskilled workers who, due to their poverty, are not able to change their job or place of residence, and are involuntary slavery, fall into the mines.
In addition to the detrimental effects on workers’ health, illegal mines also damage the environment. The use of mercury and cyanide in gold mining significantly pollutes water and air. About 40% of the total air pollution from mercury falls on illegal gold mines.
This is due to a lack of finances and a desire to save, and also because of the low chances of obtaining a development loan. Ignoring creditors in this area of the business actually stopped it from developing many decades ago. In order to solve important problems with the working conditions of miners and to prevent environmental pollution, ASGM industry needs to be dealt with as soon as possible.
GoldFinX Solution Developed Today
GoldFinX’s blockchain can solve many problems in this area. To enable companies to attract investment through the sale of digital assets. These investments will provide businesses with the opportunity to buy high-quality equipment, create new production mechanisms or simply enter new markets that were previously inaccessible.
The GoldFinX blockchain will allow you to track gold at all stages of supply, from its production to its final destination, to verify the legality of ore mining. The totality of measures taken can increase industry productivity by 10.20 and 50 times
GoldFinX received its first experience in Côte d’Ivoire and has already managed to extract 2 kg of gold. It is expected that by the end of May it will be possible to receive 5-10 kg of gold per month. In the near future, other mines in Côte d’Ivoire will start working on the same principle, and in summer the company will open production in Tanzania and Canada. This little experience will allow the company to test the business model in practice before moving on to large volumes at the end of the year.
GoldFinX profit will be provided by 20% of the mine’s income, which in 10 years will make it possible to earn 15 billion, 2.5 of which will be in the foreign exchange reserve of the Swiss bank. This financial strategy protects the value of cryptocurrency with real, physical assets, and gives GiX the best features of fiat currencies and stablecoins.
Moreover, the purchase of GiX tokens helps to improve the working conditions of miners. It turns out that making the world a better place and doing business are not mutually exclusive things. “Doing good” is just common sense in business.
Nicholas is a tech journalist.