InnovaMinex is Using the Blockchain to Deliver Traceability to Precious Metals

A brand new enterprise mannequin that makes use of the blockchain is delivering traceability to treasured metals.

Even although treasured metals similar to gold and silver are scarce, they’re additionally extremely liquid. Not solely have they got monetary worth, however they’ve cultural and emotional worth too. According to the World Gold Council, since the 1970s, the volumn of gold produced every year has tripled, whereas the quantity bought yearly has quadrupled.

Yet, whereas it’s easy to buy a gold or silver piece of jewelry, how can a purchaser ensure of what they’re shopping for and the place it comes from?

Enter InnovaMinex, a mining platform that makes use of the blockchain to assure the traceability of treasured metals.

Speaking about the expertise, Fernando Garcia Sanz, CEO of InnovaMinex, stated: “Blockchain technology is the technology of the future, which allows us to expand the boundaries of business in its usual sense. It can be used in various fields, including the mining industry.”

He added that the staff determined to use the blockchain as a result of it might “certify the total strategy of mining – from gold’s origin in the mines to the finish client.” According to the platform’s whitepaper, by the use of the expertise, patrons can confirm the origin of the steel they’ve purchased, making certain that the extraction is authorized, that the setting has been protected, and that the treasured steel hasn’t been utilized in cash laundering.

So far, the platform has seven mining tasks: GUAYAQUIL, VIZCAYA, BOLÍVAR 2, ANTIOQUIA 3, MINEX 7, MINEX 12 and TOLIMA. The GUAYAQUIL plant is already in the building and meeting stage, in accordance to the staff, and gold ore is being collected for additional washing and processing. The whitepaper states that the begin of operations will happen in the first months of 2019. TOLIMA can be the final to start, with a begin yr of 2022, with the processing of minerals.

The primary purpose of the challenge is to make gold and different treasured metals extra accessible to folks. It goals to obtain this by its INX cryptocurrency, which is able to scale back the value to finish clients, whereas making certain the safety and transparency of all transactions.

“Our project will be able to provide a stable cryptocurrency, giving participants the opportunity to take advantage of its non-linear, but strong relationship with gold,” stated Sanz. “INX tokens could bring benefits to holders even if the price of gold decreases.”

The staff add that the INX token will give tokenholders the proper to purchase gold and gold merchandise 25 per cent cheaper than the market value. As demand for gold grows every year, so too will demand for INX. Not solely that, however token holders who hold their INX tokens in a chilly pockets for 3 months can be eligible to obtain a part of the 25 per cent of InnovaMinex earnings quarterly in the type of low cost vouchers. These vouchers may be redeemed whereas buying gold and gadgets produced from treasured metals, in accordance to the platform. They may be uesd to pay up to 90 per cent of the worth of the items.

Notably, regardless of the bear market of 2018, InnovaMinex has raised $2.1 million in the first stage of its ICO, which closed the ninth of December. The second stage of its ICO is at the moment ongoing and can finish on the 23rd of December. The third stage will start on the 24th of December, ending the sixth of January, 2019. The fourth and remaining stage will start on the seventh of January and can end on the 20th January.

In order to use this opportunity simply register right here Try your luck and stand up to 15, 000 USD in INX tokens, with the probability to win much more prizes.

Source link

Be the first to comment

Leave a Reply

Your email address will not be published.