A Bright Future For Gold
The price of gold has spiked by nearly 30% this year, and recently exceeded the level of US$2030 per ounce. The current gold market is optimistic due to risks associated with the upcoming US election and global pandemic.
UBS predicts the price of gold will continue to ratchet up further, as it can stay at a high level for a more extended period. UBS also modifies its gold price forecast, from US$1850 per ounce to US$2100. However, gold is facing a new competitor: Bitcoin. As the first un-confiscated, immutable, decentralized digital asset, it went viral in recent years. Although gold has its unmistakable advantages, it is evident the conventional way of trading this yellow metal does not fit a modern portfolio. Gold and cryptocurrency are often put into comparison, ranging from scarcity, convenience, and stability. Right now, we have the option to get the best of both worlds, digital gold, a gold-protected cryptocurrency.
The filthy truth behind gold
Be it coal mine or gold mines, the mining industry is notorious for having devastating consequences to our environment. Furthermore, workers are very often underpaid. The horrifying working conditions also cost thousands of lives every year. Mercury poisoning and Silicosis are two prominent, but preventable, illnesses for ASGM (Artisanal and small-scale gold mining) workers. Another shortcoming of ASGM is inferior productivity. ASGM is highly labor-intensive. 90% of the gold miners work in ASGM, yet they only generate 20% of gold annually. Living in a well-developed country, we often ignore the blood, sweat, and tears behind our glamorous jewelry. We should no longer turn a blind eye to environmental degradation and workplace hazards in developing countries. Cryptocurrency is a game-changer in funding clean gold production. Blockchain, as the revolutionary decentralized medium of trading gold, is bringing prosperity into ASGM regions.
GoldFinX ASGMs’ Sustainable Business Model
Inspired by contract farming, GoldFinX has adopted a similar model to fund gold mines around the globe with blockchain technology. In short, GoldFinX pre-purchases from gold mines with the capital raised from a cryptocurrency, providing sufficient starting capital for miners to operate their gold reserves. Once the pre-purchase target is met, GoldFinX will have a 20% share of all future production until the mining cycle ends.
15% of the precious metal received by GoldFinX will indefinitely store in international reputable vaults, thus ensuring the security and value of the GiX. Strictly speaking, contract mining provides ASGM with enough funds to allow them to make a profitable, ethical business choice, especially in hiring workers or investing in mechanization.
“Do Good, Receive Good” Join our Ambassador program.
GoldFinX’s social responsibility does not end in the mines. Our ambassador program unites enthusiastic people to generate positive environmental, economic, and social impact. Be a GoldFinX ambassador. Share your view with our executives. You will get a personalized-promo link to promote GiX coin. On top of that, you get a discount for GiX coin purchase. Remember! An artisanal gold-mining community gets healthier, safer, and wealthier thanks to your passion and contributions! Click here to learn more.