A storm has hit the investment market which we are not going to recover from. Crypto investment is that storm. With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, Goldenugget, the combination of decentralized blockchain technology and the most antique, reliable, value increasing and stable asset: "GOLD" has arrived!
"Blockchain technology provides a way for untrusted parties to come to agreement on the state of a database, without using a middleman. By providing a ledger that nobody administers, a blockchain could provide specific financial services — like payments, or securitization — without using a middleman, like a bank.
Further, blockchain allows for the use of tools like “smart contracts,” which could potentially automate manual processes, from compliance and claims processing, to distributing the contents of a will.
For use cases that don’t need a high degree of decentralization — but could benefit from better coordination — blockchain’s cousin, “distributed ledger technology (DLT),” could help corporates establish better governance and standards around data sharing and collaboration."
With that being said, the Goldenugget platform allows buyers of GNTO Tokens the possibility to buy Gold directly or to participate in Dutch Auctions which will give them an interesting opportunity to get Gold at a favorable price.
But before we go any further, please check out this video presentation to get even more acquainted
Now that I have your attention, let’s get right to it.
What exactly is GOLDENUGGET?
As depicted above and as indicated on the official website of GOLDENUGGET, GoldeNugget is an existing reality, with over 3,000,000.00 Euro’s already invested in West Africa for earth moving machines for the gold industry. Where you can really feel the dust, the noise, and the smell of business. Where people really have an objective, where people really see actual results in their hands at the end of the day. Call it “Old Economy”, however this business was once the actual value of money, the same money that still today allows you to purchase bread. So why not unite an old dirty but real business with new innovative industry such as Crypto in Switzerland where purchaser can rely on a predictable legal framework.
The mission is to create a Gold purchasing platform. The Goldenugget platform allows the GNTO Token purchasers the possibility to purchase Gold directly or to participate at Dutch Auctions which will give them the interesting chance to acquire Gold at a favorable price.
To become the most influential innovator in the field of ground mining on the planet, that’s what we aim to be. As you know, ground mining is not an ecological industry, we, at GOLDENUGGET want to revolutionize the industry. From the use of new eco-friendly non-toxic chemicals, and become the most environmentally-friendly miners on the earth, respecting our neighbors and working with them to create and build infrastructure and services so that once the project is finished they will have something to prosper on.
How does it work?
THE GNTO ON THE ETHEREUM BLOCKCHAIN
GNTO is GoldeNugget’s ERC20 compatible token registered on the Ethereum main net, minted in 30.000.000 units with 18 decimals, and will be used by purchasers to purchase Gold at “outlet” prices, or on our Reverse Auction website or Dutch Auction.
The Goldenugget Blockchain is a EVM (Ethereum Virtual Machine) compatible public licensed blockchain with Proof of Authority Consensus Algorithm.
The blocks are verified every 30 seconds.
The Goldenugget Blockchain stores and tracks all the operations from Gold manufacturing to delivery of the purchases and of the Reverse Auctions website, the tracking papers of the items for sale, making them redeemable at any time.
IEO (Initial Exchange Offer)
In today’s market, considering the unbelievable proportion and percentage of failed Crypto projects and where purchasers find it hard if not impossible to participate in projects that have actual future, we have decided to approach our “Crowdfunding strategy” completely different from others. While most of the Crypto projects in high majority fail or not even begin. GOLDENUGGET will revolutionize the market by redesigning the concept of ICO’s, STO’s or crowdfunding.
IEO stands for Initial Exchange Offer. We are not a Cryptocurrency Exchange, however we exchange our issued Tokens with our manufactured Gold through different mechanisms of simple exchange or Dutch auctions. In order to participate in our Crowdfunding we have opted to implement the KYC and AML procedure and to sell our Tokens on the Swiss based Eidoo Exchange platform so that purcahsers understand the difference between a real and sustainable project versus a possible scam. This allows us to transmit all the possible safe and safeguarding measures in terms of trustworthiness and clarity on the project.
In connection with carrying out the activity of gold broker, and before making gold transactions, GoldeNugget will be affiliated to a SRO organization.
GoldeNugget IEO (Initial Exchange Offering) will begin in May 2019 and will run for 4 months or until the hard cap is reached.
Token Name: GoldeNugget Token
Token Symbol: GNTO
Total GNTO amount: 30,000,000 GNTO
Available for IEO (Hard Cap): 19,500,000 GNTO
Emission Rate: New Tokens will not be emitted
Will not be released on the market for a period of 12 months
Released Quantity: Tokens that have been exchanged to Gold on Goldenugget’s platform will be released in the market through exchanges at market price.
Conversion Rate: 1 GNTO = 1 USD$ or ETH equivalent
West African Afro Splendid Minerals Co. Ltd starts with over 3,000,000.00 € Investments
Decision to invest into a Blockchain project is approved
May - Project Start - Workshop for strategic decision
June - Project launch - Blockchain development starts
June - Definition of name and logo
July - Project Website development start
September - Smart Contract prototypes development + Crash Tests
Blockchain completion + Crash Tests
March - White Paper completion -Token Completion
May - IEO LAUNCH
September - SRO Affiliation
September - Gold Sales Start
September - Dutch Auction Start
December - Ghana mining operations start 1st Phase. Gravity
Ghana mining operations start 2nd Phase. Carbon In Leach
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
For more information, please visit:
My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2487106
Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.