HashCash Consultants Gearing for a Digital Mining Venture
HashCash is considering a digital mining venture of a never-before kind involving gold in a digital token format, that can be traded on an exchange.
US-based blockchain development company considers a digital mining venture. It intends to involve the gold mining companies in its bid to realize the idea.
This model determines the worth of gold in the ground. The ore is never physically mined but traded on an exchange using digital tokens. Investors buy the digital tokens that represent an eco gold vault quantity (eg. gram/oz of gold in the ground). The project is expected to employ extensive blockchain exercises. If materialized, this will be an original eco gold concept of monetizing capital without mining.
This is greatly relevant at a time when gold mining is observed to be ‘peak’, implying that the gold resources are nearing depletion which is expected to happen within the next few decades.
This is a highly ambitious project and will have a grave impact on the mining of ‘conflict’ metals. The model is capable of disrupting the gold market and changing the investors’ perception of gold assets. This project is expected to arouse interest worldwide with uproars from various corners including the number of people who own considerable quantities of physical gold.
HashCash CEO Raj Chowdhury points out, “ The concept of an Eco Gold Vault is a potent one. This is capable of resolving a lot of issues, especially in conflict zones. This project will create fair opportunities for traders and also preserve natural resources. However, realizing this idea will call for the establishment of a significant level of trust.”
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