Cryptocurrency

Published on August 2nd, 2019 | by Diogo Costa

0

GoldFinX lets you participate in actual gold mining

Gold has been recorded in the history books from the very earliest dawn of human societies, as it was one of the first widely used currencies for the exchange of goods. Throughout the ages, it has kept its unique place in the world of finance, being explored, mined, and traded systematically across the entire planet.

According to estimates, the reserves of gold still in the ground will dry up in a period no longer than 50 years – at least, if we’re talking about the gold that is accessible and which extraction is economically viable today. While this may not make it seem like there’s a lot of time left, it still means that there is still a good amount of gold to be mined without taking into account the help of newer technology in that process.

This is exactly the reasoning behind the genesis of GoldFinX, a Protected Coin Offering (PCO) launched by Atlas Group of Companies, a private equity firm. The Fairtrade project intends on giving artisanal gold mining an important boost, especially in the form of the latest mining tools and technologies, while also assuring the subsistence of all the links in the supply chain. With this, the artisanal mining industry becomes modernized and has the possibility to yield much better results.

In exchange, GoldFinX gets a share of the gold that is collected for the life of the mine. This gold will then act as protection for the value of GiX, GoldFinX’s own digital token which, in turn, is acquired by individuals all over the world.

While being implicitly linked to the amount of physical gold that GoldFinX is able to acquire, the increase in GiX’s value will also be affected by the value of the precious metal itself. Considering the price of gold is predicted to grow in the next few years, this is probably a good thing.

In phase 1 of their business plan, GoldFinX will select at least 15 gold mines from the over 70 mines they are considering, and are estimated to rake in a total of more than $15 billion, with over $2.3 billion to be directly linked to the GiX offering.

If you want to be a part of this gold-mining endeavor, go ahead and check GoldFinX‘s website for more info.

Like this post? Share with your friends.
Share on Facebook
Facebook
0Tweet about this on Twitter
Twitter
Share on LinkedIn
Linkedin
Share on Reddit
Reddit
0Share on Tumblr
Tumblr
0Share on VK
VK
Email this to someone
email

Tags: , , ,


About the Author

Avatar

Biologist, writer, tech guy, musician and photographer. Only the first is for real, though.



Leave a Reply

Your email address will not be published. Required fields are marked *

Back to Top ↑