Goldchain offers products such as TruGold, TruSilver, TruMag, and TruNickel, and is the first company to offer tokenized precious metals with a record of their provenance. Goldchain works directly with their mining partners and employ a blockchain-based protocol to track processed materials from their point of origin to the end user. Mined assets and precious metals are then certified, stored, and tokenized for peer-to-peer transactions.
Please note: There is no ICO or Airdrop associated 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 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 exclusive relationships with their mining partners give them access to mine sites to verify provenance of materials and metals processed. These companies work together with Goldchain to employ blockchain-based IoT technology to tokenize metals as it is extracted, refined, and, or smelted into bullion and coinage.
Goldchain, in collaboration with their mining partners will implement real-time tracking of precious metals during the processing of materials in the mine. This will include record keeping on the EOS blockchain in the form of transactions for each lot of material that is extracted and includes time, date, weight, location, supply chain checkpoint, and lot number, among other details.
This information will help define provenance for the precious metals and other materials that are extracted from the mines and will allow consumers and end users to be assured that the materials extracted from these mines, are in fact from these mines.