On September 4, 2017, Eurasia, the platinum, palladium, iridium, rhodium and gold production company, announced it has entered into an agreement with GoldMint PTE, a Singapore-based limited company, to collaborate on establishing a method for the application of blockchain based technology to the development of resource industry projects.
Eurasia Mining is a production company and a long standing mineral exploration company, with a pipeline of projects under development, and seeks innovative solutions for bringing these projects to market on the top of the Urals project already in production.
GoldMint is developing a platform on which to establish a new means of managing physical gold assets, by applying blockchain technologies to making a variety of transactions backed by physical gold more fluid.
Eurasia is an established and diversified mining and exploration company with an operating Mine in the Ural Mountains. Separately, approved Reserves and Resources within the Monchetundra Project on the Kola Peninsula comprise 1.9 million ounces palladium equivalent. In addition, Eurasia maintain an exclusive right to participate in up to 67% of the Semenovsky Gold in Mine Tailings Project, a project demonstrating near term gold production potential.
Eurasia has a track record of success in taking projects to successful production, mineral exploration, and in funding mineral exploration and mining projects, and has tracked recent developments in the worlds of crowdfunding and blockchain technology to gauge their application to mineral exploration and resource project development.
GoldMint’s board of directors and nominated advisors, demonstrate significant experience in the emerging world of blockchain technology, their creative vision to redefine the architecture of the physical gold market, by creating the infrastructure necessary to allow physical gold to be traded faster, more efficiently, and more transparently represents a paradigm shift for the entire gold industry.
Eurasia are interested to see how these changes can be applied to the world of gold production, exploration and resource development.
GoldMint has evolved from the successful Russian high street gold management and lending business Lot-Zoloto, and the realization by its co-founders Dmitry Pluschevsky and Konstantin Romanov, that blockchain technology can be applied to that business and expanded upon to encompass further international gold markets, making transactions in physical gold more accessible, efficient and transparent. The GoldMint ICO will launch a new means of exchange for physical gold, with transactions managed over the blockchain based platform but backed 100% by physical gold. This platform will access the private and individual gold trading market and potentially the management of larger physical stocks such as those in central banks. It will also provide an electronic payment solution backed by physical gold and a system for gold backed peer to peer lending. In addition GoldMint will provide automated machinery called Custody Bot for the immediate tokenization and sale of physical gold at high street locations. GoldMint directors feel that a logical further integration of the GoldMint solution would be to encompass the metal extraction business. For more information on the GoldMint’s ICO visit goldmint.io/ico
While the final Eurasia – Goldmint, blockchain based solution applied to the mineral exploration and resource extraction industry has yet to be fully determined it is likely to partly replicate the royalty streaming business already proven to be very effective in the mining industry.