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GoldMint Brings the Blockchain to Global Gold Markets

October 10, 2017 jody 0

<br /><br /><br /><br /><br /><br /><br /><br /><br />Buying, selling and trading gold is about to become easier, safer<br />and more efficient than ever thanks to GoldMint’s innovative new<br />blockchain models.Gold has a long history with investors as a revered store of<br />value. As an asset, it provides a reputable alternative amid the instability of<br />fiat money and can serve as a safe haven during a global financial crisis. More<br />recently, gold has served as a viable hedge for the growing markets of<br />cryptocurrencies and their tendency toward hyper-volatility.GoldMint aims to make a mark in today’s evolving markets by<br />backing its virtual token, GOLD, with actual gold from prevailing precious<br />metals ecosystems. The company’s goal is to drive the future of gold markets<br />using an automated vending machine model — one where individuals can purchase,<br />sell and trade gold with ease and efficiency using the GOLD crypto asset.The company aims to make its native GOLD tokens the unit of trade<br />for these transactions, exchangeable for real gold via a process that verifies<br />the quality of the metal traded by small sellers using the blockchain. Because<br />of the importance of ensuring that gold on exchanges be of a certain quality,<br />GoldMint has rated its crypto assets against the London Bullion market (LBMA).<br />In other words, one GOLD crypto asset equates to one ounce of gold on the LBMA,<br />which is rated 999 in purity. Therefore, any gold that becomes a part<br />of GoldMint’s ecosystem must possess that pure or derived level of gold<br />content from weight.Of practical significance is the company’s<br />comprehensive peer-to-peer (P2P) solution that allows businesses such as<br />pawnshops to raise credit. Moreover, GoldMint seeks to deliver on a feature called “vending<br />gold,” introducing something it calls the “Custody Bot.”When asked about the roadmap ahead, founder and CEO Dmitry Pluschevsky had this to say:“We plan to build a global P2P system of crediting secured by gold<br />so that some people would be able to help others regardless of politics and<br />without risk for both sides.”Custody Bot and the Future of Gold VendingGold vending reflects a new approach to an old concept: The Custody Bot buys gold and then a person can purchase the GOLD crypto asset, which is equivalent to a given amount of physical gold. Custody Bot is the solution<br />that GoldMint utilizes to ensure that the collateral offered by a business such<br />as a pawnshop can be audited and verified. It provides a means of offering a<br />temporary hold, purity inspection and long-term storage vessel of physical gold<br />on the GoldMint blockchain. Once the Custody Bot has completed the assessment<br />process for the gold, it can be safely stored until it is retrieved via a<br />special code unique to each item stored. This process not only affords a higher<br />level of verifiability, but facilitates the trustworthy delivery of information<br />to the blockchain.Using this innovative approach, lenders profit when the owner<br />reclaims the stored gold in Custody Bot, or in the case of an unclaimed pledge,<br />when it is sold off by the pawnshop. GoldMint thus serves as a valuable tool<br />for investors seeking to add gold to the blockchain for speed and security,<br />with the added benefit that they can independently verify the purity of their<br />gold.“One of the next generations of Custody Bot will operate in<br />retail, on the street,” said Pluschevsky. “A<br />new generation of pawnshops in the form of vending machines will appear at each<br />gas station. And the next step will be the home Custody Bot, which will allow<br />you to evaluate the gold items while storing them at home.GoldMint Crowdsale Ongoing NowGoldMint’s crowdsale, which commenced<br />on September 20, allows participants the opportunity to purchase MNTP token. This token will eventually migrate over to the blockchain under<br />the name MNT, and will be used to verify the GOLD transactions on GoldMint’s<br />blockchain.Note: Trading and investing in digital assets is<br />speculative. Based on the shifting business and regulatory environment of such<br />a new industry, this content should not be considered investment or legal<br />advice.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br />The post GoldMint Brings the Blockchain to Global Gold Markets appeared first on Bitcoin Magazine.

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Pakistan Government to Put the Searchlight on Bitcoin Traders Says Local Media

October 10, 2017 C. Edward Kelso 0

Pakistan Government to Put the Searchlight on Bitcoin Traders Says Local MediaPowerful Pakistan government and media officials appear to be contradicting the domestic population’s embrace of bitcoin.    Also read: Pakistan Set to Become a Major Bitcoin Hub Pakistan Government on the Defensive, Maybe Karachi, Pakistan’s Dawn, a widely circulated and read periodical and website in English, is rather cosmopolitan. Covering bitcoin, however, its website curation seems to have […]

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INS Attracts Keynote CEO, ICOShark Founder and Blackmoon Co-Founder Gaining Support From Unilever, MARS, Valio and Campina

October 10, 2017 BitNewz.net 0

October, 2017, Moscow: New global food-tech project INS from the founders of Instamart product delivery service announces new members to join the advisory board: Keynote CEO and the Executive Member of Global Blockchain Council Mo Levin, ICORating Foun…

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Cryptocurrency Platform Bitlem Opens a Physical Trading Location in Mexico

October 10, 2017 BitNewz.net 0

TheMerkle Bitlem physical ExchangeWe have seen physical Bitcoin exchanges pop up in a few countries already. Although some companies mainly use physical locations for consultation services, things are a bit different with Mexico’s Bitlem exchange. The company actually allows customers to buy and sell Bitcoin and Ethereum at a physical location in the heart of Mexico City. It’s an interesting concept, especially in a country where financial hardship has become the new normal. Bitlem Embarks on a new Venture Most people think of cryptocurrency exchanges as online platforms only. In most cases, consumers have to sign up with a website, send in documents to verify their identity, and

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Worldcore Raises Over $5 Mln in the First Presale Days of its Upcoming ICO

Worldcore, the highly anticipated Blockchain Payment Institution continues a successful presale raise with over US $5 mln in contributions as of Monday, October 9th. Note This is a press release. Prague, Czech Republic &8211 October 9, 2017 &8211 The company has successfully begun a presale for accredited investors. Worldcore is offering 10 bonuses to early-birds for the next 5 days, ahead of their Initial Coin Offering on October 14, 2017. Aiming for full transparency throughoutnRead Mo

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University of Melbourne Piloting Recipient-Owned Blockchain Records

The University of Melbourne has announced plans to pilot blockchain based certification and verification based scheme, allowing a private, secure and long-lasting way to verify their student&8217s credentials. The University of Melbourne is trialing a blockchain-based record keeping program, allowing recipients to both store their credentials and allow third party access for verification purposes.Learning Machine are behind the issuing system using the Blockcerts open source code developed b

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