A storm has hit the investment market which we are not going to recover from. Crypto investment is that storm. With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, Innovaminex, an innovative business model that uses blockchain technology to guarantee the traceability of precious metals has arrived.
"For the precious metals mining industry, which has been fighting illegal mining methods for many years, the use of blockchain could be a turning point. The blockchain technology will help make the gold mining process itself more transparent and accessible to the general public. The main purpose of blockchain here is to help to stop illegal, hidden and unregulated looting, as well as, human rights violations. The use of blockchain will increase transparency and ensure complete traceability of metals."
With that being said, the ultimate goal of Innovaminex is making gold and other precious metals more accessible to all the people through the Innovaminex cryptocurrency, INX, obtaining the best possible price both for the clients and for the community, with emphasis being placed on the transparency and safety of transactions
But before we go any further, please check out this video presentation to get even more acquainted
What exactly is INNOVAMINEX?
Innovaminex It is an innovative business model that uses blockchain technology to guarantee the traceability of precious metals. By applying a set of procedures, it is possible to certify the whole process, from its origin in the mines, to the refinery and the commercialization to the end consumer. This commercialization is done through our e-commerce, partner stores and our own ATMs. This will allow buyers to verify the origin of the metal they have acquired, insuring that the extraction is legal, that the environment has been protected at all times, or that it cannot be used for money laundering, since all transactions are registered and the whole community has access to them.
Furthermore, all calculations within the project are carried out using smart contracts, which ensures the safety of transactions and high speed. To further protect its customers, InnovaMinex uses unique security algorithms, including a confirmation system, which gives the second chance to enter the data only in a minute in case of mistake. InnovaMinex distributed nodes work together to get fast transactions. Multicurrency cryptographic cards allow making purchases using ETH and BTC, but when using cryptocurrency, additional bonuses and discounts are provided. InnovaMinex has good adaptability and can be integrated directly on several platforms. Due to the direct work of a manufacturer and a buyer, InnovaMinex allows avoiding additional costs and making payments under the P2P scheme.
The Goal
The goal is making gold and other precious metals more accessible to all the people through our cryptocurrency, INX, obtaining the best possible price both for our clients and for our community, with emphasis being placed on the transparency and safety of our transactions.
The Problem - Market Conditions
Precious metals are naturally occurring rare metallic elements having significant economic value. They have high luster, usually ductile which tend to be less reactive than most elements. Precious metals are primarily regarded as investments and industrial commodities. Platinum group metals and gold are some of the most prominent precious metals present in the industry. While the coinage metals, silver and gold are consumed in industrial applications, they are better known for their use in jewellery and art. Other precious metals include the platinum group metals: iridium, osmium, rhodium, ruthenium, palladium and platinum.
Gold prices have been skyrocketing as of late, which makes many people wonder if they should have gold and other precious metals in their investment portfolio. Adding some precious metals to your portfolio might not be a bad idea as gold and other precious metals can offer portfolio diversification and potentially act as a hedge against inflation.
The InnovaMinex project has primarily 4 business divisions:
Mining
The company possess mining rights to 7 mining projects, with an initial duration of 30 years with renewable rights for another 30 years. All the mines are located in the Republic of Columbia.
Refining
The company's refinery will be strategically located 10 minutes from José María Córdova Airport, in the free-zone of the municipality of Rionegro, Eastern Antioquia, Republic of Colombia. The refining activities will be associated with gold, silver, platinum and other non-ferrous metals.
e-commerce
INX's e-commerce segment will be dedicated in bringing refined products to customers. This business section will mainly be involved in the development of market actions, sales, customer service, portfolio management, logistics management and any commercial event or information exchange through the internet. Through this segment, the company will offer coins and ingots of various denominations (1g, 2g, 5g and even 1ozt) to customers.
ATMs
The company will design and build ATMs for purchase and sale of cryptocurrencies, including INX. Apart from cryptocurrencies, gold coins will also be offered for customers and later be delivered to their address.
The Features
Blockchain
The best and most advanced technology providing complete information on traceability from the extraction of precious metals to their commercialization.
Safety and integrity
Users can rely on the fact that transactions will be conducted in an invulnerable, automatic and trustworthy way, removing the need to trust in third parties.
Faster speed
Interbank transactions usually take several days before they are cleared and settled. INX work 24/7, reducing transaction times to just minutes.
Low-cost
By eliminating traders and third parties, we can remove unwanted additional costs. That is how InnovaMinex is able to significantly reduce transaction fees.
Transparency and immutability
All INX transactions are publicly visible and immutable for the whole community. They cannot be either altered or deleted.
Quality traceability
The certification performed by our blockchain will be complete, consistent, precise and publicly available.
Market
InnovaMinex is the safest and the most cost-effective option for the purchase of gold and precious metals.
INX
The INX cryptocurrency will rank first in the mining and precious metals industry.
Token and ICO Details
INX tokens are used to perform calculations within the project. They are implemented on the basis of Ethereum according to the ERC-20 standard. In total, 300 million tokens were issued, of which 70% was allocated for sale. The project’s softcap is 10 million dollars, hardcap - 52.5 million dollars. The project is at the stage of the preliminary sales from November 26 to December 9, where you can purchase tokens with 30% bonus.
Token name: INX
Token Standard – INX Blockchain, backed by (INX Thunder Network (TTX))
Starting: JANUARY 7th 2019
Ending: JANUARY 21st 2019
No. of Tokens Available for Sale – 210 million INX (65% distributed in ICO)
Token Launch Price – 1 USD = 2 INX
Bonus: 10% Discount
Soft Cap: $10 million
Hard Cap: $ 52.500.000
Minimum personal purchase: 1 INX
Maximum personal purchase: No limit
Accepted Cryptocurrency: BTC, BCH, ETH, LTC, DASH, ETC, USDT, XRP
KYC and Whitelist Required – Yes
About Token Sale
ICO Sales – Phase 1
Start Date – 26th Nov ’18 | End Date – 9th Dec ’18
Bonus – 30% Discount
Token Sales Limit – up to 210 million INX
ICO Sales – Phase 2
Start Date – 10th Dec ’18 | End Date – 23rd Dec ’18
Bonus – 24% Discount
Token Sales Limit – up to 210 million INX
ICO Sales – Phase 3
Start Date – 24th Dec ’18 | End Date – 6th Jan ’19
Bonus – 16% Discount
Token Sales Limit – up to 210 million INX
ICO Sales – Phase 4
Start Date – 7th Jan ’19 | End Date – 20th Jan ’19
Bonus – 10% Discount
Token Sales Limit – up to 210 million INX
ICO Sales – Final Phase
Start Date – 22nd ’19 | End Date – 26th Jan ’19
Bonus – 0% Discount / No Bonus
Token Sales Limit – up to 210 million INX
Token Distribution and Usage of Funds
Unlike other projects, which have only an idea and technical documentation, has seven ready-made points for production and they plan to launch their operation in early 2019. The platform will also cooperate with other companies that carry out legal activities for the sale and purchase of precious metals.
The operations will be carried out using the INX digital token, which gives discounts when buying bars and the total number of which is 300 million. The team plans to supply ATMs for the purchase of gold and other precious metals.
Searching for mining prospects: Direct investment is achieved for Verada Guayaquil project. Six other gold mining concessions are negotiated.
November 2018
Initiation of the assembly plant at the Guayaquil project. Additional explorations conducted into the Vizcaya project. The hoarding of minerals begins.
November 2018
On the 26th the official sale of INX begins. There will be 4 phases with different types of discounts up to 30%. It will last until January 21st.
December 2018
INX will be listed in several exchange platforms and ATMs worldwide.
January 2019
Our e-commerce for the sale of gold and silver is launched (launch of the marketing campaign to create awareness for our innovative products).
February 2019
Initiation of the refinery and start of the refining of gold with other mines and associations.
April 2019
Beginning the assembly of the Bolívar 2 project plant. This is the second plant of InnovaMinex.
April 2019
InnovaMinex ATMs: Precious metals commercialization and start-up of the first ATMs selling gold, INX and other cryptocurrencies.
May 2019
Opening of the mine entrance for the Vizcaya project and hoarding of minerals.
June 2019
The plant at the Guayaquil 1 project starts operation and the construction of the beneficiation plant at the Bolívar 2 project begins, in addition to mineral hoarding.
August 2019
The assembly of the beneficiation plant at the Vizcaya project starts. The rehabilitation and construction of the main galleries at the Antioquia 3 project begins.
September 2019
Commercialization of our gold and other precious metals, processed by our refinery.
May 2020
The extraction and stockpiling of minerals at Minex 7 begins, as well as the construction of the main galleries, extraction and stockpiling of minerals in Minex 12.
June – July 2020
The beneficiation plant at Antioquía 3 begins operations, and the construction of the Minex 7 plant starts.
February – September 2021
The Minex 7 plant starts operating and the construction of the Minex 12 beneficiation plant commences. The hoarding and construction of the main tunnels of the Tolima project begins.
Meet The Amazing Team
Till next time…
For more information, please visit:
Website: https://innovaminex.com/en/inx
White paper: http://innovaminex.com/docs/whitepaper-en.pdf
Tokenomics: http://innovaminex.com/docs/tokenomics-en.pdf
Twitter: https://twitter.com/innovaminex
Facebook: https://www.facebook.com/Innovaminex/?ref=bookmarks
Telegram: https://t.me/InnovaMinex
Medium: https://medium.com/@innovaminex
Bitcointalk ANN Thread: https://bitcointalk.org/index.php?topic=5040040
Linkedin: https://www.linkedin.com/company/innovaminex/
Youtube: https://www.youtube.com/channel/UCUUdQud9Eu-zEsWQXlr6yHw?view_as=subscriber
Instagram: https://www.instagram.com/innovaminex/
Reddit: https://www.reddit.com/user/Innovaminex/
My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2487106
Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.
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