Seems like a cool ICO, I mean backed by Gold, but how does it really work? It won't be the price of gold, so I guess they are calculating per ounce or gram? Well I wish the team the best of luck. Will keep a look out for it. I was also wondering why there is no facebook campaign. I guess they might add it later you never know.
Hello!
GoldMint runs on a blockchain ledger and works through a digitized cryptoasset called GOLD whose cryptocurrency value is based on physical gold. The decentralized platform uses a special blockchain that helps gold owners trade, loan, invest in and, generally, use their commodities for profit.
GoldMint buys, sells and repurchases GOLD at the current market price for physical gold. The company uses exchange-traded funds (ETF) or physical gold (of 999 quality) as its security. GoldMint’s gold reserves equal or exceed its mined amounts of GOLD.
GOLD is a crypto asset issued by GoldMint that uses the current price of gold set on the LBMA exchange at the time of sale.
-Equal to one ounce (31,1035 grams) of gold (999 quality) -Shards into 100,000 parts.
-Commissions are given in GOLD.
Information is transmitted to the blockchain ledger about the number of ounces of physical gold or ETFs owned by GoldMint. ETF is bought on he stock exchange NYSE, Arca and subsequent information is publicized on GoldMint’s decentralized blockchain, making it transparent and open to all members. Statements are received from the depositary (electronic or printed).
All physical gold owned by GoldMint exists in the following forms:
-Manufacturer-certified bullions
-Gold coins
-Gold jewelry
-999 quality granules, stamped by manufacturer.
GOLDMINT main thread -
https://bitcointalk.org/index.php?topic=2091726.0Best regards,
GoldMint community.