GoldChain offers products including TruGold, TruSilver, TruMag, and TruNickel, among others, and is the first processed precious metals company that will be available to customers as tokenized products with provenance back to their place of origin.
GoldChain works directly with their partner mining sites and employs a blockchain transaction based process to track point of origin. All material that is classified and meets certain thresholds are then tokenized and certified by their respective authority.
Please note: There is no ICO or Airdrop affiliated with this project.
TruGold is the first token in the Goldchain suite of products offered to customers. The circulating supply of TruGold represents materials extracted and weighed from the processing plant. TruGold utilizes the EOS Blockchain to record the record of extraction which helps to define the origin and provenance of the materials.
TruMag, offered by Goldchain, is a digital token backed by physical magnesium that scheduled for future release. Magnesium (Mg) is a naturally-occurring alkaline earth metal that has many uses and applications. It is two-thirds the density of aluminum and the third most commonly used structural metal. When alloyed, magnesium is super-strong and lightweight and based on its strength-to-weight ratio, it is the strongest and lightest of all metals. It has applications in the automotive, aerospace, and electronics industries and used forapplications where weight reduction is necessary without sacrificing strength. It is also used in batteries and energy storage, and it has medicinal and supplemental use for health and wellness.
TruSilica, offered by Goldchain, is a blockchain token that is backed by silica sand and planned for release at a future date. Silicon (Si), a crucial element with characteristics of both metal and non-metal, is actually a metalloid important for use in microelectronics, our bodies, and plants.
Referred to as the “structural glue” of our bodies, this trace mineral and related forms are present in human bone, tendons, the aorta, liver, and kidneys. In plants, silica builds stronger cell walls, reducing heavy metal toxicity and resistance to pathogens and pests, leading to bigger stems, and healthy growth. The Apollo 11 astronauts left a silicon disc on the moon with messages of goodwill greetings and peace from the leaders of 73 countries.
So why is Goldchain different than all the other tokens pegged to gold?
That is an excellent question and one we answer below. There are a few points of differentiation from past projects that have attempted to tokenized Gold.
A proof-of-stake reward system will reward users who stake tokens to help secure the network.
Digital gold can provide a stable store of value and hedge against other digital assets losing value.
Blockchain technology is used to validate provenance of gold and establish trust.
Metals in the supply chain are physically stored with third-party custodian vaults where they can be redeemed using Goldchain’s Digital Tokens.
Goldchain’s partner mines are an exclusive relationship that gives Goldchain LLC, exclusive access to over 10 of their sites to mine and process precious metals.These companies share ownership and management and work together to identify which of their leased sites are the most promising sites for discovering rare precious metals, like Gold and Silver. Currently partner mines have 10 sites leased, with 2 that have had extensive testing and have shown the most promising results for a successful operation. As part of the roadmap, these sites are further scrutinized and will be isolated for final operational status.
Goldchain, in partnership with their mining partners own real equipment that has been staged on several sites, as additional testing and other planning commences. This allows the company to be operational on these sites within the next 24 months.
Goldchain, in partnership with their mining partners will implement real time tracking during their processing of the materials in the mine. This will include record keeping on the blockchain in the form of transactions on EOS for each LOT of material that is extracted, including time, date, weight among other details. This information will help define provenance for the precious metalsand other materials that are extracted from the mines, and will allow multiple supply chain checkpoints to be assured that the materials extracted from these mines, are in fact from these mines.