GoldMint PTE LTD is a russian-singaporean blockchain-company, whose main goal is to completely reform the market of loans secured by gold, by implementing complex blockchain-solutions and automatizing the process of evaluating gold items.
GoldMint is developing a digital asset GOLD, that is 100% backed by real gold, bought under delivery futures at the Chicago Mercantile Exchange. This asset acts as a stable unit in the cryptocurrency market, and also is used for issuing loans as a liquid collateral, and this way increases the transparency and security of the whole industry.
GOLD assets operate in GoldMints custom blockchain which has a unique consensus algorithm, based on Sumus solutions. GOLD operations are maintained by MNTP token holders, rewarded by a 75% commission fee.
For an automatic evaluation process and decreasing the price of storing gold items, GoldMint is developing a vending gold storage “Custody Bot”, equipped with a spectrometer, scales, cells for storage, and connected to the blockchain. All inspection data of the items will be stored onto the blockchain, by so, providing transparency of the processes
MNTP Token (description for exchanges)
MNTP (Pre-launch MNT) is a ERC20 utility token based on Goldmint’s Ethereum blockchain. Prior to the end of 2018, GoldMint is planning on launching its own blockchain that has a unique consensus algorithm, leading to MNTP’s migration to MNT. MNT holders maintain operations inside the GoldMint blockchain, rewarded by a 75% commission fee from GOLD operations. Also, lowered commission fees and markup for GOLD operations are considered for MNT holders.
GOLD Token (description for exchanges)
GOLD is a ERC20 GoldMint token, operating on the Ethereum blockchain. This asset, according to the company’s information, is 100% ensured by physical gold, bought by Goldmint, as delivery futures at the Chicago Mercantile Exchange (CME). Gold, which approves the price of GOLD assets, is stored in one of the banks of the US Federal Reserve System - in New York or Chicago, and also in Brinks storages. In the Asian Market, GoldMint cooperates with the Singapore Precious Metals Exchange, assets of which are stored in one of the four available storages. GoldMint purchases its futures through the famous exchange broker WedBush. All information on the amount of gold stored is available at goldmint.io, in the “Transparency” section