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Found a new interesting cryptocurrency yesterday. GOLDMINT, Here is some info :) :)
WHAT IS GOLDMINT?
GoldMint runs on a blockchain ledger and works through a digitized cryptoasset called GOLD whose cryptocurrency value is based on physical gold. The decentralized platform uses a special blockchain that helps gold owners trade, loan, invest in and, generally, use their commodities for profit.
GoldMint buys, sells and repurchases GOLD at the current market price for physical gold. The company uses exchange-traded funds or physical gold as its security. GoldMint’s gold reserves equal or exceed its mined amounts of GOLD.
Differences between GoldMint and other gold cryptocurrency blockchains include the following:
GoldMint uses its own blockchain and altcoin, called MNT, for GOLD transactions.
GoldMint uses Proof-of-Stake where miners are doled out blocks/ transactions according to the amount of MNT they have. Proof of stake (PoS) is faster, simpler and cheaper than proof of work (PoW).
Physical gold and ETFs are stored in a programmed decentralized storage unit.
Custody Bot — GoldMint’s innovative storage unit is programmed to automatically identify and store gold jewelry, small ingots (up to 100 grams) and coins, without human intervention.
We plan to move in three stages:
To gain access to 1% of global gold circulation (over 300 tons) by launching Custody Bot automated storage facilities in pawnshops around the world.
To gain access to another 5% of gold circulation by introducing Custody Bot to shopping centers.
To gradually gain access to a final 10% of gold reserves, worth more than $100 billion, and to develop a special version of Custody Bot for popular installation.
ICO STARTING SOON!!
GoldMint company emits GOLD digital assets on its own and ensures their buy-back at the current gold price. Physical gold and ETF guarantee GoldMint company’s pay ability. The assets are purchased and sold according to emitted GOLD volume. At the same time, the company’s assets evaluated in 999 gold standard ounces are always equal or exceed the number of GOLD tokens emitted
The GoldMint platform is built on a private blockchain, based on the Graphene technology. The key advantages of Graphene which has determined the company’s choice is that it is open-source, and offers a full variety of instruments needed to bring our project to life right out of the box. Moreover, it adheres to modern security standards and has a lot of worldwide financial blockchain systems realized on its basis.!
This allows us to build a robust and safe architecture with a high bandwidth and the ability to use custom Proof-of-Stake consensus.
A safe storage that gives the ability to quickly and safely take out loans using gold or gold jewelry as security.
This app creates and proceeds blocks within the private GoldMint blockchain and receives a commission for the processed transactions.
This API allows any financial institution to use GOLD cryptoassets as a means of payment. Furthermore, such an API permits any third-party holder of large gold assets to tokenize their assets and create their own work logic.
HOW IT WORKS
Traders, investors and other people who use crypto can use GOLD stable coin to hedge risks and save their savings from volatility and dramatic changes in price.
Exchange units
Individuals and companies can get a loan in fiat currency charged upon their GOLD cryptoassets. Credit cards with partner banks are emitted for this goal.