Large corporations have always been “the most glamorous side” of the gold mining industry, equipped with machinery capable of emptying reserves at a frenetic pace while spending exorbitant budgets. Meanwhile, small-scale mining companies, the primary source of work for millions of people worldwide, subsist with limited funds, having to make use of extraction and refining methods that contaminate land, water, and put the health of their workers and the well-being of entire regions in danger.
But for Jean-Michel Alfieri and Philippe Bednarek, co-founders and leaders of the Fintech firm GoldFinX, the only thing separating the artisanal and small-scale gold mining (ASGM) segment from achieving complete success and modernization is the right strategy.
Identifying market opportunities
Alfieri and Bednarek are two European entrepreneurs currently achieving much more success than they had ever hoped to aspire to at the beginning of their careers. In 1994, they founded their very own consortium of innovative enterprises (Atlas Group of Companies), executing the roles of the President and Chairman, respectively, right until this very day.
Alongside a team of experts, they led startups that included Absolutely Digital, Atlas Interactive, Atlas Telecom and Golden Steps to becoming multi-million-dollar projects renowned worldwide. However, in 2017, their paths would take them face-to-face with the difficult reality lived by artisanal miners and the small-scale gold industry.
In what initially could have been considered as a road to no easy answers, this journey has taken these two businessmen to a world of immense raw potential. The ASGM industry was about to be surrounded by cutting-edge perspectives, technological advances, and distributed financial solutions – both key factors to attract investors as allies. That’s how GoldFinX and its self-developed micro-currency, the GiX, were born.
GoldFinX brings together all the experience accumulated over the last two decades in the entrepreneurial milieu by the Atlas Group of Companies team and joins them with knowledgeable advisors in the decentralized market. Consequently, the executives came to realize that raising funds with just a simple awareness marketing campaign and providing only typical benefits wouldn’t be enough. They wanted to revolutionize the ASGM industry and inspire their target audience to get involved.
With this goal in mind, GoldFinX developed a hybrid-coin using the Ethereum protocol, the GiX. The sale of this cryptocurrency to the enthusiastic public would raise the funds necessary to advance adequate capital to small miners with great potential, in exchange for a 20% share of the entire gold production. This isn’t an investment, but rather an advance for future production for the rest of the mine’s natural life cycle.
In this way, under the watchful but helping eye of GoldFinX experts, artisanal miners will be able to switch from dismal working circumstances and harmful environmental policies to a revitalized, clean industry that will provide more significant benefits to the participants and nearby communities.
At the same time, decentralized technology enthusiasts and investors looking to venture into this type of market would acquire a liquid asset backed by gold reserves – which will be mostly stored in a bank vault located in Switzerland.
Thus, investors will be able to participate in the sale or trade of this cryptocurrency and generate profits that would also count on a minimum-floor value based on the stockpiled gold. Coin holders would also gain additional advantages as the gold reserve grows and the benefits expand. Within its RoadMap up to 2021, GoldFinX is expected to generate at least 15 billion euros in revenues, reaching a stored value of 2.2 billion euros.
According to the information contained on the GoldFinx website, the fintech is expecting to raise 250 million Euros, and during the pre-sale (ending March 31st of this year) and pre-ICO phases, potential buyers will be able to purchase the coin at a 50% discount (1 Euro).
Once this presale phase ends, the GiX will be sold at its regular price, and soon after will be placed on major crypto exchanges during the 4th quarter of 2019.
Benefit for all
According to Coindesk, a lot of blockchain projects are able to develop loyalty programs, but while many face the problem of “starting cold” and creating an inadequate user base to build meaningful and productive cooperation with large e-commerce global players, the initiative of Alfieri and Bednarek – which is already beginning to generate recognition in the crypto-world – stands out.