Sudan Gold Coin
Sudan Gold Coin ICO details
Start Date: 2018-2-28
End date: 2018-3-28
About Sudan Gold Coin
Idea of the SGC project was to create a gold mining facility in Sudan along with a cryptocurrency, which value would be fully pegged to the amount of mined gold. Up till date this is an existing business, fully staffed with experts, equipped with all needed documents: geological exploration of the site, soil samples, developed scheme of gold mining process and gold synthesis, as well as multiple agreements with representatives of the Sudan government and our multiple partners. Financing will be raised by issuing and proposing the Ethereum based tokens during the ICO.
The mining facilities in Sudan will be managed by the audited Dubai company – SG mining Co. The decentralized gold exchange will allow to use the SGC token as the main currency for
purchasing gold extracted by the any mining company and cross-sale between the gold buyers/sellers, banks and other customers.
The world’s first blockchain option for gold mining project’s aim is to establish the high-technological and profitable gold-mining business in Sudan. The study area 8017.8 Km2 that study area is located in an area of promising gold mineralization potentiality zone.
The concession area of the block in Northern State is under the name of GS Multi Activities CO. LTD Financing will be raised by issuing and proposing the Ethereum based tokens during the ICO. The mining facilities in Sudan will be managed by the audited Dubai company – SG mining Co. The decentralized gold exchange will allow to use the SGC token as the main currency for purchasing gold extracted by the any mining company and cross-sale between the gold buyers/sellers, banks and other customers. The unique combination of real gold mining business and an integrated decentralized exchange will ensure the stable growth of the token price.
HOW IT WORKS
- You join project by purchasing tokens (1 token = 0.75$ – 1$)
- Tokens start circulating on exchange with price tied to gold (10 tokens = 0.5g of gold)
- Gold-mining plant is established
- Plant generates gold. The token to gold ratio increases (10 tokens = 1g, 2g, 3g …. of gold)
- Tokens purchased from the market (1 token = 4$, 8$, 12$) or exchanged to real gold
- Banks and miners and traders join the decentralised exchange
- Decentralized exchange on blockchain technology is opened
- Revenue is secured with gold
✓ All fund received during the ICO contributed into the statutory capital of the Dubai SG mining Co.
✓ The Dubai SG mining Co controls the 100 % of the Sudanese company (for purposes of operative financing, payment of salaries to key technical staff, and possibility of influencing the management decisions of the Sudanese company).
✓ Dubai SG mining Co purchases the mining equipment in China and leases it to Sudanese company
✓ Sudanese company extracts gold and after paying taxes exports to the United Arab Emirates to Dubai SG mining Co.
✓ The Sudanese company remits the leasing payments to the Dubai SG mining Co through provides the mined gold versus leasing payments and dividend 50% of the net income Dubai SG uses for buy tokens from the market or exchange them for bank gold certificates.
✓ For business expansion purposes (development of new gold mining sites, creation of the gold bank, decentralized gold exchange platform, etc,) the Dubai SG mining Co may announces new ICO .