Tuesday, October 3, 2017

GoldMint continues to progress towards changing gold market entirely with new collaboration with Eurasia Mining

Unlike some gold backed cryptocurrency models that simply seek to allow people to buy and sell physical gold on the Blockchain using 'tokens' to represent their assets, GoldMint is striving to change the entire model on how gold is traded and priced.

And their next step in doing this is with a new collaboration with Eurasia Mining that will use the Blockchain to change the way production, exploration, and distribution is done directly with the miners without them having to go through the current process using sovereign exchanges.

GoldMint, a blockchain-based startup that helps gold owners profit from digital assets backed 100 percent by physical gold, recently announced an innovative collaboration with the mineral production company Eurasia Mining
GoldMint’s board of directors and nominated advisors demonstrate significant experience in the rapidly developing world of blockchain technology. Their creative vision is to redefine the architecture of the physical gold market by fostering the necessary infrastructure for physical gold to be traded faster, more efficiently and more transparently. Over time, they expect this will usher in a paradigm shift for the entire gold industry. 
Based in the U.K. and Russia, Eurasia Mining is a platinum, palladium, iridium, rhodium and gold production company with a long-standing history in mineral exploration. It has a fully operational mine in Russia’s Ural Mountains, as well as the exclusive rights to participate in up to 67 percent of the Semenovsky Gold Tailings Project, a project demonstrating significant near-term gold production potential. 
With its roster of projects under development, Eurasia is now seeking a fresh set of solutions for bringing these projects to market. The company has a proven track record in successfully developing mineral exploration projects through innovative means. 
Currently, Eurasia is following ongoing advancements in the worlds of crowdfunding and blockchain technology to assess how these trends can be applied to the world of gold production, exploration and resource development. 
These efforts align favorably with GoldMint’s strategic intent of aligning blockchain technologies with the resource industry in order to create greater fluidity among transactions backed by physical gold. 
Co-founders Dmitry Pluschevsky, who was a co-founder of LOT-ZOLOTO, and Konstantin Romanov later realized that blockchain technology could be applied to the business dealings of international gold markets, making transactions in physical gold more accessible, efficient and transparent. 
In addition, GoldMint will deliver an automated machinery solution called Custody Bot for the immediate tokenization and sale of physical gold at high street locations. – Bitcoin Magazine
One of the best ways to bring gold and other precious metals back to an open and fair market is to simply remove the supply chains from the futures markets who at this time determine price through paper contracts rather than physical supplies.  And the more that mining companies switch to a different platform to sell their metals in, the sooner the price of gold and other metals will rise to their proper levels, and help end much of the manipulation that occurs when commodities are turned into derivatives on the exchanges.


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