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Precious metals have been an integral part of the global economy for thousands of years. Goldfor example, it is still one of the most stable investments and has provided much better liquidity than other assets such as real estate. Investors also tend to gravitate towards the asset class during periods of general economic turbulence as they retain their value significantly better than equity. As such, gold and other metals represent the best inflation hedge since they do not diminish in value.
The process of extracting these metals, however, is not a trivial task. As a result, some mining organizations have resorted to the extraction of precious metals without considering the legal and environmental implications of their actions.
InnovaMinex , on the other hand, is a startup that is trying to revolutionize the precious metals industry with the help of blockchain technology.
The innovative business model of the company revolves around the guarantee of traceability of precious metals such as gold and silver. The company has so far planned seven mining projects, which should start operating in the coming years. InnovaMinex controls the entire process of extraction of precious metals and can certify the origin, processing and delivery of each metal.
According to InnovaMinex, the use of blockchain technology to guarantee responsibility in the precious sector is unprecedented. From the project White paper, buyers of products will be able to "verify the origin of the metal they have acquired, ensuring that the extraction is legal, that the environment has been protected at all times, or that it can not be used for money laundering, since all transactions are registered and the whole community has access to them ".
Once the gold or silver ore has been mined by InnovaMinex, it will be transferred to the refinery, where the raw product will be converted into commercial products that can be sold to an end user. The company will perform, among others, merger, analysis, refining and granulation processes. InnovaMinex will also offer cryptocurrency Casts made of metals and alloys of various shapes and sizes.
InnovaMinex will also manage an e-commerce division that will give customers and businesses the opportunity to purchase precious metals on the Internet. The platform will use the INX digital token, which was built specifically around the InnovaMinex platform. The INX blockchain can also be used to guarantee the transparency of transactions and the ownership of a given metal.
Despite the lackluster performance of the cryptocurrency market in 2018, InnovaMinex has attracted private investments of over $ 2,000,000. Individuals who wish to participate in the course token sale will receive a 24% discount until 24 December 2018.
This is a paid content. BTCManager does not endorse any content or product on this page. While we aim to provide you with all the important information we could obtain, readers should do their research before taking any action related to the company and bring full responsibility for their decisions, nor can this article be considered as investment advice . BTCManager and its employees are not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use or reliance on any content, goods or services mentioned in the press release.
