When it comes to precious metals, gold and silver lead the chain due to their high demand as they have many uses and are widely used in jewelry, cutlery, electronic components and more.

Gold is also used as a reserve to balance the local economy by many central banks around the world.

Each year, over 4000 tons of gold and over 20,000 tons of silver and mined and sold globally.

Mining of gold and silver is a tedious task, and in most cases, underground mining tunnels have to be dug out to extract them. Traditional mining of metals like gold and silver and related activities create a very negative impact on the environment and the population living in and around the mining area.

Mining employees are often exploited as well as mining companies often deny them basic safety and pay standards.

Even though green mining standards are set up around the world to ensure employee and environmental protection, they are often not followed by mining corporations.

Meet InnovaMinex – A Blockchain-Backed Solution to Solve Problems In Precious Metal Mining

InnovaMinex is a blockchain-backed model. The model ensures that all the process involved in the mining of precious metals like gold and silver are certified. Also, it is monitored so that there is no negative environmental impact and employee rights are protected.

Moreover, as all the data from the mining to the finished product will be stored in decentralised databases, consumers can be sure that the precious metals they own are genuine and has not been produced by any exploitations.

But InnovaMinex actually breaks into the precious metals market with a disruptive business model, that no one has ever created before. Apart from ensuring that precious metals are genuine and follow all guidelines, InnovaMinex also aims at making gold, silver and other precious metals more accessible and cheaper for consumers.

To achieve this, InnovaMinex will also establish its own e-commerce platform and ATMs where consumers can easily make purchases. In addition, they are negotiating with companies from other economic sectors who want to include the INX token as a means of payment in their platforms, to buy products outside the precious metals market. This will greatly increase the value of the INX, which in itself already has an intrinsic value because 25% of InnovaMinex’s profits are quarterly converted into discount vouchers (up to 90% discount!) and distributed among users loyal to INX.

Moreover, the platform will use the InnovaMinex (INX) cryptocurrency, which allows consumers to make secure transactions and at a cheaper rate (up to 25%-30% discount), as the InnovaMinex platform completes third-parties from the scene. There are many advantages to the INX Community

The InnovaMinex platform will undoubtedly revolutionize the way gold and silver are mined, processed, and marketed.

One of the main goals of InnovaMinex is to expand the precious metals market so that people who have never had access to gold realize that, within the INX Community, precious metals are consumer goods for everyone. Anyone will find the best prices for gold and other precious metal products just paying with INX, and those ones who keep the tokens for 3 months will receive incredible discounts to buy precious metals. InnovaMinex wants to use decentralized technology to centralize the main focus of its model to give them value: the community that produces (InnovaMinex helps the development of the areas where the mines are) and the community that buys (InnovaMinex offers the precious metals market like never before it has been offered).

The post Here’s How Blockchain Will Soon Let You Track The Origin Of Your Gold and Silver appeared first on ZyCrypto.

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