GoldMint and the Future of Gold Ownership

Reflecting gold’s historical repute as a scarce and valued
resource, Bitcoin has become known in many investment circles as “digital
gold.” With its unprecedented rise, Bitcoin’s worth is now estimated to be
about twice that of an ounce of physical gold.

On August 7, 2017, the startup GoldMint was launched with the intent of ushering
in a new digital era of gold as a store of value. This project aims to provide
a unique set of gold ownership solutions for cryptocurrency investors and
enthusiasts worldwide. It is
holding an initial coin offering (ICO) that starts in less than
12 hours. 

The GoldMint
project reaffirms the notion that physical gold is a respected method of
payment and wealth preservation, all tied to its value and scarcity. Gold
ownership, however, requires expensive security, safekeeping and insurance.
GoldMint’s innovative approach seeks to address these inherent issues.

purchases, sells and repurchases their native digital asset called

“GOLD,” which is
100 percent backed by physical gold. It features an Exchange Traded Fund (ETF)
which can be utilized as a payment and investment tool for both companies and
individuals in hedging risk.

Capitalizing off
of the inherent advantages of its physical counterpart,

GOLD tokens offer
a stable, transparent, non-volatile means of buffering one’s crypto portfolio
from wild market swings. Here, GoldMint is committed to ensuring that GOLD
delivers consistent value through paper assets like ETFs and futures as well as
through physical assets. Moreover, GOLD owners will be able to use their tokens
to secure guarantees, loans and escrow services, all at a modest 5 percent
purchase and 3 percent sale fee.

GoldMint will
also deliver a utility token known as “MNT” to facilitate operations, implement
smart contracts and incentivize block creation and transaction confirmation.

During the early
stages of this project, MNT will be sold and distributed on the Ethereum
blockchain. After the MNT distribution has taken place, Goldmint will launch
its own Graphene -based Proof-of-Stake (PoS) blockchain that offers a safer,
more productive and faster experience.

Minting the Blockchain

GoldMint utilizes
a blockchain ledger to execute trades, loans and investments for profit. The
following are what make the GOLD crypto asset unique:

100 percent
information transparency relative to all GoldMint GOLD. The company discloses
its gold reserves, fostering the opportunity to buy back GOLD at its current
trading price.GoldMint utilizes
the decentralized blockchain for smart contracts and for its crypto assets.ETFs are used for
liquidity and elasticity facilitating gold trades which are far faster than
those of physical gold.Secured loans can
be leveraged with GOLD, like jewelry or coins. GoldMint assists in the storage
of this collateral through its unique Custody Bot, a blockchain-connected robot
used for inspection, temporary and long-term storage and the transfer of
physical gold, jewelry, coins or gold bullion.Members have the
ability to earn passive income as the market price of GOLD rises.An option which
allows for the buyback of GOLD for fiat according to the current price of GOLD.A fast and
efficient user registration and identification system.

To support merchants and developers,
GoldMint is in the process of releasing an application programming interface
(API) for the development of third-party apps and other interfaces. Use of this
API will allow online stores to accept GOLD as a payment method, enable loans
to be secured by banks and provide access to services such as escrow accounts
and financial guarantees.

The Goldmint Team

Goldmint is led by CEO Dmitry
Plutschevsky, who co-founded Lot-Zoloto — a gold trading company based in
Russia with trading transactions totaling $100 million in 2017 — with
former banker Konstantin Romanov. Serg Umansky, head of portfolio management at
Whiteridge Investment Funds, Alex Butmanov, managing partner at DTI and Julian
Zegelman, managing partner at Velton Zegelman, are among the advisors of the

GoldMint founders predict that its unique
value proposition will disrupt the billion-dollar gold market, allowing
GoldMint to establish itself as a market leader in the coming cryptocurrency

To learn more about GoldMint and
participate in its token sale, visit its website,
read the white
paper and follow the company’s social media channels on Facebook and Twitter.The post GoldMint and the Future of Gold Ownership appeared first on Bitcoin Magazine.

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