SmartGold ICO details
Start Date: 2018-1-25
End date: 2018-2-25
- Category: Manufacturing
- Token: SGT
- Platform: UNIVERSA
- Initial price: 1 SGT = 16 - 20 USD
SmartGold – Blockchain asset backed by extraction and production of real gold.
The blockchain technology is coming into maturity. One of the evidences is the growing attention on the part of the state to regulating or at least establishing clear rules for the circulation of cryptocurrencies and tokens.
In many ways, the tasks that need to be addressed to all of the market participants are related to the definition of the blockchain as a real financial tool.
Our project offers a simple process of involving the blockchain in the real economy. The core economic idea: traditional risks of exploration and production of gold are exchanged for risks of volatility of cryptocurrencies and tokens (insecurity with valuable liquid assets and protection from inflation). The release of tokens is secured by a contract for the supply of goods. Fixing the risks ratio occurs in the price of the purchase of goods in the form of a discount from the market price and is fixed in a unit of physical mass. The commodity of the contract is gold, which is a universal measure of value.
These solutions create a simple secure investment tool for secondary circulation being an accurate measure of the value expressed in a unit weight and fulfilling the classical role of gold.
We have prepared a co-investment project for the simultaneous start of gold production and development of the gold deposit.
The goal of the project is to release 1,000,000 (one million) SGT tokens to raise funds for the construction of the gold plant and to start the extraction of gold concentrate in Tanzania. Owners of tokens become co-owners of the Main Contract for the supply of gold. One token is equal to 1 g of gold from the Main Contract for the supply of physical gold in the amount of 1 ton (one ton or one million grams). The contract is signed with the local partner company for gold mining for the supply of gold in the period starting since the launch of the gold-recovery plant (the gold plant). The delivery time of the metal under the contract is December 2018 to March 2020.
- The unit of mass of Precious metal is troy ounce which is 31.1034768 grams.
- The purity of gold corresponds to the international standard “London Good Delivery”.
- The mass of pure gold in the gold ingot is from 350 to 450 troy ounces (10,886 g – 13,754 g).
- The weight of each ingot is expressed in troy ounces and is a multiple of 0.025 ounces.
- The purity of the metal is not less than 999 parts of chemically pure gold per 1,000 shares of the ligature mass.
- The ingot is marked as follows: serial number, fineness, brand of the manufacturer, year of manufacture.