Despite being only available for a select group until its public sale, this "ultimate currency backed by gold" counts with enough supporters to potentially position itself as one of the revelations of 2019, with more than 5,000,000 coins sold to date.
Geneva, Switzerland - The undeniable attributes of gold as a stable resource over the years and the enormous potential of digital assets for their inflationary features and technology, gave rise to a unique market opportunity. This is the premise of the GoldFinX solution; the Fintech aims to boost investment levels, as well as revenues, by applying a business model that also benefits the mining community.
According to the team behind this enterprise, there are thousands of tons in gold that haven't yet been extracted. The artisanal and small-scale gold mining sectors lack funds for more efficient exploitation that guarantees higher profit levels with less negative impact on the environment, as well as better working conditions for miners.
On the other hand, the wide fluctuations in the value of cryptocurrencies and the need for better answers suggest -according to Jean-Michel Alfieri and Philippe Bednarek, both GoldFinX executives- that investors and decentralized finance enthusiasts demand brand-new standards. The solution GoldFinX provides lies in the GiX coin, a resource that despite being in the presale stage has attained superior ratings on platforms such as CoinSchedule.
After an in-depth analysis of the best technology behind its project, GoldFinX's parent company, Atlas Group Of Companies - a financial and technology solutions company founded in 1994 with a presence in 7 countries around the world - opted for the creation of the liquid initiative. This would integrate blockchain resources, for both the flow of a hybrid currency powered by gold, and the solution for the difficulties in artisanal mining sector.
GoldFinX’s core engine
According to the data collected by the enterprise in its official documents, the small-scale gold market and important NGOs, such as the UN and Artisanal Gold Council, have been looking for innovative formulas and ways of funding adequate capital to help drive its industry towards much-needed reform, better working conditions, and cleaner-environment methods. This last point is consistent with initiatives such as the Minamata Agreement scheduled in 2017 to protect miners and surrounding communities from the harmful effects of elements such as mercury, a common consequence during the artisanal purification of gold.
Following this context, the giants in cryptocurrencies had a rollercoaster performance last year, motivated by the fall in prices, the lack of adoption, and the different regulations that exist regarding digital capital. In this way, GoldFinX seeks to guarantee the necessary traceability of gold in the first instance, so that the solution can integrate gold's legal prestige as part of GiX's backup fund. At the same time, they are promoting the standardization of the resource and integration in Exchanges and e-commerce using the GiX as a micro-currency in the gold industry.
People who invest in GiX coins would be collaborating with the funding of artisanal gold mines, which, by obtaining more capital, will be able to acquire machinery and implement reliable extraction methods. In exchange, the enterprise is collecting a portion of these mine’s gold production for the lifetime of those mines, and then allocated in a bank vault in Switzerland.
Subsequently, said return of investment (gold) would at the same time make a backup fund for GiX; so the currency will be continuously increasing in inherent value while, unlike the rest of the proposals, not falling prey to value drops.
The GiX venture
Through Bitcoin, Ether, Ripple, Euros and US dollars, people interested in joining the project will be able to invest in the initial funding of 15 gold mines located in 12 countries around the world. The price of each of the 250 million GiX coins will have a 50% discount for a short period of time in respect to subsequent stages, standing at 1 Euro.
Company Name: GoldFinX Pte Limited
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