INNOVAMINEX – TAKING THE GOLD MARKET INTO THE FUTURE
Since the beginning of time, humans have always attached value to particular items be them for their physical appearance or just what they represent. Over the years, gold, silver, and other precious metals have also become valuable not just because of their uses in the industry but also for their aesthetic properties which have caused them not only to be in high demand but also have cultural and emotional significance attached to them. This has led to, as witnessed over the years, good returns being obtained from the investment in these precious metals as they rarely, if ever, lose value.
INTRODUCING INNOVAMINEX!
With this in mind, the Innovaminex project was thought out and brought to light by a team of seasoned and well experienced players in the industry to use the blockchain technology to apply its immutability and security to the gold transaction process thereby guaranteeing traceability of these precious metals from mines to final consumers to ensure that the product being purchased is of utmost quality, wasn’t produced under unethical circumstances and originates from where it is being portrayed to.
The company already has concession contracts valid for 30 years and renewable for another 30 years and with the oldest dating back to 2008, it will be 2068 before the first expires.
THE MINES
The gold has been scheduled to be sourced from seven underground vein mines (to ensure minimal environmental pollutions) namely GUAYAQUIL, VIZCAYA, BOLIVAR 2, ANTIOQUIYA 3, MINEX 7, MINEX 12, and TOLIMA.
The GUAYAQUIL, based in Pensilvania, Colombia, is to be the first operational mine and scheduled to start operations in the first quarter of 2019. It is to have 3 veins (GUAYAQUIL, La morena, and VIZCAYA) with estimated produce of 900,000 troy ounces of gold out of which 37,000 is already proven. It has a capacity of 100 – 150 tons/day and is set to be scaled up to 500 tons/day.
The TOLIMA mine is to be the last and scheduled to start in 2022.
Such items as crucibles, threads and wires and salts are to be made from gold, silver, and platinum in these mines.
TOKEN USED
The platform is to use the INX token as a utility token and also as a cryptocurrency that can be exchanged for other forms of cryptocurrency and fiat currencies. It is currently being used for the token sale.
INNOVAMINEX E-COMMERCE STORES
Taking advantage of the benefits gotten from e-commerce, Innovaminex seeks to display and transact in gold, silver, and platinum in 1g, 2g, 5g, and even 1 troy ounce and ingots. These will be preferentially sold in INX in exchange for discounts to the customers when doing so.
INNOVAMINEX ATMs
These are to be placed in strategic positions and can be used to exchange various cryptocurrencies for fiat currencies and vice versa. They will be able to issue out banknotes of major world currencies.
INNOVAMINEX THUNDER NETWORK (TTX)
This is a group of geographically distributed transaction processing nodes that will be used to, together, fast forward the transaction information on the INX blockchain.
ADVANTAGES OF USING THE INNOVAMINEX PLATFORM
Blockchain – its presence on the blockchain confers it the benefits that accrue thereof which include security, traceability of transactions, trustworthiness etc.
Low platform cost – the platform is to have competitively lower costs and fees than other players in the field.
Safe gold market – users can transact their business in peace without fear of security risks or doubts about the process as everything is open and easily confirmed.
Loyalty programs – 25% of customer benefits are to be used on loyalty programs to grant them such packages as exclusive information on gold and other precious metals market, discount vouchers that can be redeemed on the e-commerce platform etc.
TOKEN DISTRIBUTION
Total INX tokens to be issued – 300 million
Hard cap – 52.5 million USD
1 INX – 0.50 USD
Minimum personal purchase – 1 INX
Marketing, legal dept., and partners – 20%
Project developers – 10%
ICO – 70%
Out of the ICO tokens,
The project (mines, ATMs, refinery, e-commerce platform etc.) – 75%
INNOVAMINEX platform – 19%
Miscellaneous (unforeseen expenses) – 5%
Social projects – 1%
TEAM
The team is composed of the best in the various fields they are found with lots of years of experience with similar projects (see here).
MORE INFO
For more information on the project and its various packages, check out the following links and sites:
Bitcointalk link - https://bitcointalk.org/index.php?action=profile;u=2484504
Bitcointalk username - Abdulmutalib1995