InnovaMinex uses the blockchain to provide traceability to precious metals


A new business model that uses the blockchain is delivering traceability to precious metals.

Although precious metals like gold and silver are scarce, they are also very liquid. Not only do they have financial value, but they also have cultural and emotional value. According to the World Gold Council, since the years & # 39; 70, the volume of gold produced each year has tripled, while the amount purchased annually has quadrupled.

Yet while it is simple to buy a gold or silver jewel, how can a buyer be sure of what he is buying and where does he come from?

log into InnovaMinex, a mining platform that uses the blockchain to ensure traceability of precious metals.

Speaking of technology, Fernando Garcia Sanz, CEO of InnovaMinex, said: "Blockchain technology is the technology of the future, which allows us to expand the boundaries of business in its common sense.It can be used in various fields, including the mining industry. "

He added that the team decided to use the blockchain because it can "certify the entire extraction process – from the origin of gold in the mines to the final consumer. "According to the whitepaper of the platform, through the use of technology, buyers can verify the origin of the metal they bought, ensuring that the extraction is legal, that the environment has been protected and that the precious metal was not used in money laundering.

So far, the platform has seven mining projects: GUAYAQUIL, VIZCAYA, BOLÍVAR 2, ANTIOQUIA 3, MINEX 7, MINEX 12 and TOLIMA. The GUAYAQUIL plant is already under construction and assembly, according to the team, and the gold ore is collected for further washing and processing. The whitepaper states that the start of operations will take place in the first few months of 2019. TOLIMA will be the last to begin, with a year of beginning of 2022, with the processing of minerals.

The main objective of the project is to make gold and other precious metals more accessible to people. It aims to achieve this through its INX cryptocurrency, which will reduce the cost to end customers, while ensuring the security and transparency of all transactions.

"Our project will be able to provide a stable cryptocurrency, giving participants the opportunity to take advantage of its non-linear but strong relationship with gold," said Sanz. "INX tokens could bring benefits to owners even if the price of gold decreases."

The team adds that the INX token will give the tokers the right to buy gold and gold products 25% less than the market price. As the demand for gold grows every year, even the demand for INX. Not only that, but the holders of tokens that keep their INX tokens in a cold wallet for three months will be entitled to receive a 25 percent share of the quarterly InnovaMinex income in the form of discount coupons. These vouchers can be redeemed during the purchase of gold and objects made of precious metals, according to the platform. They can be used to pay up to 90% of the value of the goods.

In particular, despite the 2018 bear market, InnovaMinex raised $ 2.1 million in the first phase of its ICO, which closed on December 9th. The second phase of its ICO is currently under way and will end on December 23rd. The third stage will start on December 24th, ending on January 6th, 2019. The fourth and final stage will start on January 7th and will end on January 20th.

To take advantage of this opportunity, register here Try your luck and get up to $ 15,000 in INX tokens, with the chance to win even more prizes.

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