While some people claim that blockchain technology and cryptocurrencies have all the potential to replace the different types of assets and traditional currencies, the truth is that to date, resources such as gold continue to have a special prominence within the global economy.
However, this leads to a seemingly contradictory scenario: Thanks to gold’s liquidity and reliability, entrepreneurs around the world bet on this metal to endow their investments with long-term stability. Meanwhile, digital currencies provide versatility when carrying out everyday procedures, and its higher volatility/reward ratio is the perfect option for short-term investors.
Thus, is it necessary to choose which of the two fields to bet on? Or are there options out there that unite both criteria? The answer is no to the former, and yes to the latter. Fortunately, the up-and-coming Fintech GoldFinX has adopted a revolutionary business model that exercises the best of these two worlds.
Finding Peace in Duality
It has been expressed by media sources like Forbes that one of the most popular methods in recent times to guarantee the success of fundraising for a project in the era of decentralization is to introduce an Initial Currency Offer (ICO). In the case of GoldFinX, the main advantage of its virtual asset GiX is that its value is backed by gold reserves mostly stored in a Swiss bank vault; so, unlike the rest of the cryptocurrencies, it will have an ever-increasing minimum value. This means if there is a downtrend in the market, GiX should remain within a specific price lower limit, so coin holders should not experience wild fluctuations in their GiX holdings.
Now, that scenario leaves us with the following questions: 1) Where does the back-up gold reserve come from? 2) What is the nature of the GoldFinX project? 3) Why are you not only acquiring a valuable asset but also contributing to a good cause?
In the gold mining industry, there is a sub-group that has had a constant presence but has historically gone through uphill battles: the artisanal and small-scale gold mining sector (ASGM).
While there are large companies equipped with the necessary machinery and budget to extract this precious metal continuously and efficiently, the artisanal mining of gold, which has as its main resource human labor, takes on considerable risk for its practitioners and the health of the environment.
In their often-miserable daily work, artisanal miners must perform the extraction of gold with ineffective tools and outdated methods, exposing themselves to the toxicity of mercury -which contaminates water- and the risk of mine collapses, all because the small companies for which they work for don’t rely on enough monetary resources.
GoldFinX (created by its parent company Atlas Group of Companies) offers a solution to these companies and their miners, getting an advance on the mine’s future gold production via the raising of funds via the sale of its very own GiX coins. In return, the ASGM agrees to grant up to 20% of the gold production.
One major benefit within this GoldFinX ecosystem is all the people involved experience a wide variety of benefits, ranging from the strengthening of the economy within the most disadvantaged communities to the preservation of the land and natural resources.
It should be noted that if you want to help with this worthy cause while also receiving healthy financial returns, the pre-sale and pre-ICO phase of the GiX coin has a deadline of March 31 and June 30 respectively, so those interested in getting a 50% discount must enter the GoldFinX website and register now.
Everybody is taught from a young age that philanthropic causes are based on acts of kindness from which nothing should be expected in return, while on the other hand there is a belief that the business world lacks sensitivity as it doesn’t offer anything besides capital growth and greed.
The emergence of new technologies and the involvement of seasoned professionals on the GoldFinX team shed light on the possibilities of a new kind of business model, one that this Fintech seems ready to show its revolutionary benefits to the world.