GLDS blockchain project: cryptocurrency secured by gold

GLDS blockchain project: cryptocurrency secured by gold

Gold is a precious metal, the high value of which has been recognized since ancient times. A particular advantage of gold as a tool for investment is its limited supply on the planet. Not surprisingly, many people find it logical to invest in the purchase of gold.
There are various ways of acquiring and storing this precious metal. With the advent and spread of blockchain technology, cryptocurrencies secured by gold began to appear. Such projects have their own advantages, making them attractive to investors. Consider one of these projects - GLDS.

Specificity of the GLDS project: general information

The company owns gold and placer deposits located in the east of Kazakhstan. Exploration work has shown that gold reserves of approximately 800 kg are found in this area. Also, based on the results of the work, conclusions were drawn about the presence of gold sulfide-quartz-vein formation with a reserve of about 5-6 tons in categories P2 and P3.
Today, a plan for the extraction of precious metal for 2020-2023 has already been drawn up. Gold will be redeemed by the state bank of Kazakhstan. At the same time, the appearance of other large producers in this area is not expected in the coming years.
What does the project use in practice blockchain technologies? Due to the fact that blockchain allows increasing the level of transparency and traceability of gold mining and use, this can help in the fight against illegal methods of metal mining. Blockchain allows you to create a single database that everyone can familiarize yourself with, but no one will be able to modify or delete entries from the registry. Buyers will receive more truthful information about the gold they purchase.

GLDS Tokens: Digitally Gold

Tokens issued by the project are provided with gold at the rate of 0.02 grams of precious metal per 1 token. 1 gram of gold costs about $ 50, so the nominal price of 1 token is $ 1. Now, while the ICO lasts - the preliminary sale of tokens, they can be purchased at a discount. The first share of GLDS tokens will be sold with a 25% bonus.
A total of 15 million GLDS tokens have been issued. 14 million can be redeemed by investors. It is planned to list GLDS on various cryptocurrency exchanges, after which the tokens can be bought, sold or exchanged for another cryptocurrency, as well as withdrawn in fiat money or in gold. From November 2020, the company will begin to redeem tokens at the market price every 3 months.
You can learn more about the project at the following resources:
Information about the author:seyi88 
Link to the profile of the author of the article on Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1167371

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