Our brain has tidely captured by this GoldMint’s ICO. Not just by its concept, but a superb video presentation in their front page website. Not like others ICO that describe their concept through simple animation or motion captures video, GoldMint created their video so prefesionnal: executive-handsome talent, coloring, video angles, and voice over. This video trully presenting the audiences the the core ideas behind the ICO: gold is never dies since five thousand year ago, and GoldMint want to integrated gold’s scarcity with cryptocurrency and to expand the values.
So, GoldMint runs on a blockchain 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. For your information, on pre-ICO in June 2017 GoldMint have raised over 600 thousand USD in less than 36 hours.
GoldMint buys, sells and repurchases GOLD at the current market price for physical gold. The company uses exchange-traded funds (ETF) or physical gold (of 999 quality) as its security. GoldMint’s gold reserves equal or exceed its mined amounts of GOLD.
But wait, I know what you thinking. There are so many gold-based cryptocurrency that want to posses far more face value credibility than other including Bitcoin. So, what make GoldMint is really different? So note this: first, GoldMint uses its own blockchain and altcoin, called MNT for GOLD transactions. Second, 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).
Third, physical gold and ETFs are stored in a programmed decentralized storage unit. Fourth, 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.
How about if you want to move your real gold-especially in a great amount-to another country safely? You can use GoldMint service by converting your gold into GOLD cryptoassets and viceversa. We think this a great solution to avoid additional expenses and possible interrogation. Alo by converting it, you retain 100% of the value of your gold when the journey is end. This what we call inherent mechanism to make customers like you feel more secure.
Token crowdsale will take place on September 20 at 9:00 UTC. Current rate: 1 ETH = 49.71 MNTP, 1 BTC=706.64 MNTP, 1 MNTP=$7.00. MNTP left until the next bonus stage: 700,000 MNTP
Here’s how GoldMint uses its GOLD crypto asset and its internal MNT currency.
|Description||Cryptoasset. Cost and buyback are 100% based on LBMA price of gold.||GoldMint’s cryptocurrency is used to confirm GOLD cryptoasset transactions.|
|Emission||Depends on how much GOLD is needed but never exceeds the total cost of gold in GoldMint’s reserves.||Max. 10,000,000 MNT|
|Exchange rate||Emission: 1 GOLD = cost of 1 ounce of gold on stock exchanges + 5% commission for fiat-GOLD-fiat – no more than 4%
Buyback: 1 GOLD = cost of 1 ounce of gold on stock exchanges + max. 5% commission for fiat-GOLD-fiat – no more than 4%
|ICO: 1 MNT = 7 USD
Cost will be determined by the cryptocurrency exchanges
|Application||Depends on the agreement described by GoldMint company||PoS: Amount of MNT determines amount of GOLD transactions.|
|Features||Value depends on amount of gold in reserves/ circulation||Growth of MNT depends on turnover of GOLD.|
|Emission||Amount of mined GOLD depends on (a) validation of deal/ details stored in the blockchain and (b) on authenticity and value of gold inspected by Custody Bot||MNT is emitted once in a limited supply.|
|Destruction||GOLD assets are destroyed in case physical GOLD is withdrawn from the custody / Custody Bot.||MNT tokens cannot be burnt|
|Purchase and sale||People who want to trade GOLD for fiat or cryptocurrency need to undergo GoldMint’s KYC procedure.
Resale of GOLD occurs on stock exchanges or as direct transaction between parties.
Goldmint platform executes GOLD deals.
|MNTP (MNT pre-launch) is initially released via ICO, after which MNTP tokens can be traded on Ethereum platform for internal MNT tokens (found only on GoldMint’s platform), using a 1/1 course.
Max. MNT/MNTP tokens on either GoldMint or Ethereum can never exceed 10 000 000 at any given time.
(User UID: ICO Magazine)