In the future, gold will be a currency. In online technology, gold is said as crypto currency. As a crypto currency, gold is not only used for investment. More than that, gold can be used for trading just like when you use money to buy something. The most interesting, the gold is not only used for big companies but also for individuals. Later, you can buy something you need online and you are about to pay those items by gold or crypto currency.
In general, this type of technology is useful for three different activities. Those are including for trading and investment, payment for goods and services, and run an ICO. Gold is chosen because of specific reason. Gold is a precious asset in which the value is increased significantly year by year. It doesn’t affected by inflation and any kind of condition worldwide. Because of that gold crypto currency can be a stable investment and payment medium. On the other hand, the system will be run with transparent report so you know the development after certain period. It is also considered as a fast and familiar asset around the world. The way to invest your gold is easy to do. As an investor, you just need to transfer your gold crypto currency. This service helps you to find the best and reputable company along with smart loan agreement.
Then, the company starts to trade the asset, buy or sell the gold for any kind purpose. Moreover, this is also possible for you to invest the gold by loan program. In this case, you just need to transfer your gold crypto currency to the trusted company along with smart loan agreement. Then, the process will be supported by Gold Mint. GoldMint is a blockchain-based platform that uses GOLD digital assets, which are 100% backed by physical gold or exchange-traded funds (ETF). This means that one GOLD costs the same as one ounce of gold on the LBMA exchange.
The Comparision GOLD CryptoAsset and MNT internal Token Details
| GOLD | MNTP | |
|---|---|---|
| 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. |
GoldMint stores physical gold and ETF , and with the intention that its gold reserves should constantly support or exceed the amount of GOLD assets it has in circulation. This service is using the latest technology known as Custody Bot to lend the gold to the third party through pawn shops around the world. It is a good investment in the future.
More and more companies and individuals are realized the importance and the benefits of crypto currency. That why, later you are also supported by financial institutions in the term of credit card for easier and faster transactions. How about the risk? Of course, every investment has its own risk. The good news is that gold crypto currency is low risk investment. In fact, it is also developed to become a trading medium. So, hopefully you are ready to welcome this system and it will be officially launched in 2018.
GoldMint will provides supply around 10 million MNTP Tokens, of which 7,000,000 will be distributed to investors during the ICO. And then the collected funds from the Token sale will be distributed for: 30% Marketing, 35% Development, 10% Team, 5% legal, registration, 10% Staff expansion, 10% Other.
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