Recapitulation of GOLDFINX PROJECT AMA event held at AMA LOVERS CLUB.
Date: Sunday, 28th February, 2021
Time: 15:00 UTC
The GOLDFINX PROJECT team was represented by @Dappcentre who judiciously shared with us detailed knowledge and information about GOLDFINX PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the Team working on the GOLDFINX project?
ANS: I am CEO and founder of GoldFinX. I am French, I am a lawyer and I have 15 years of experience in trading and sourcing Gold worldwide.
we have an amazing mixed team : 18 people full time. 12 different nationalities, some are very young, other are seasoned, some having dev skills, other having gold mining in their blood!
Here I am in one of our operating site in Ivory Coast.
Q2: Can you introduce the GOLDFINX project, what critical problems does it solve that existing solutions are not solving and what's the competitve advantage?
ANS: GoldFinX is a decentralized finance company. We finance a neglected part of the gold mining industry which has a huge potential : the small mines
Artisanal Gold miners need money to buy equipment and increase their production. We provide them with this capital and then we share with them the production of Gold. Very simple business model
We take 20% of all production of these mines. The great impact on environment is that the equipment we finance prevent the use of mercury and other harsh chemicals.
Mercury is a huge problem for the planet : 2,000 tons of mercury are released in the ocean every year
People, Planet, Profit...
We don't really have competitors, there is no other project focusing on artisanal mining operations.✅.
Q3: Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Sure, let me share our roadmap with you.
Because of COVID 2020 was challenging but we achieved to finance and equip our first mining partnership in Ivory Coast. This gold mine is now in production. A second mine will be live next month.
But our biggest achievement is that we demonstrate that a profitable business can have an impact socially and environmentally
Again : People, Planet, Profit.
Q4: Can you briefly describe your PARTNERSHIPS?
ANS: Our partners are the small gold mining companies looking for capital to expand their operation. We own a database of 50 gold mines that we have fully documented
We partner with major NGOs, we will be announcing soon a partnership with the United Nations for a Clean Gold initiative. We are talking to the Melinda and Bill Gates Foundation who will be visiting us soon in Africa
In december we signed a great deal with a swiss gold storage company to create a Bitcoin/Gold trading platform
And finally we are about to sign a partnership an international jewelry company for sale of Clean Gold. A lot of things are happening!
Q5: Finally for this segment, Can you give an overview of your Tokenomics, and the UTILITY of the GOLDFINX token?
ANS: GiX Token is an ERC-20 token, it is listed on Coinsbit and Bitmart since May 2020
We started to trade the GiX at 2.2 USDT, today it trades around 3 USDT but we think there is a bigger value to be built as we execute the Business Plan
We have a unique model of a token with a social and environmental purpose. As you see in the roadmap we target a market price of 100 USDT, we will make it!
We will be soon offering a staking program to reward our coinholders
In terms of adoption, this fall 2021 our coin will start to be used within the community of miners, they are 15 million of artisanal miners in the world but the entire community in unbanked and represent 200 million people ! Very exciting!
2nd Segment: LIVE Questions
Q1: GoldFinx claims that is objective is not solve any blockchain problem, instead of that, aims to solve a real world problem with the blockchain, so can you explain us which real world problems are you solving right now?
ANS: We aim to solve 2 problems : Social and Environmental.
Social : 15 millions miners live in poverty because their productivity is extremely low because they don't have the equipment to work. Environment : Because they don't have equipment they use mercury : 2000 tons every year for only 600 tons of gold extracted. This is crazy.
Q2: 1. Why did GoldFinX decided to finance a mine in Canada knowing fully well that the region is not an impoverished region?
2. Many cryptocurrencies envisioned becoming a decentralized system. Just like many other cryptocurrencies, is GoldFinX also a fully decentralized system?
ANS: Even in a rich country like Canada you find impoverished communities of gold miners. Most of them are native tribes which have no access to capital and cannot benefit from their own land.
Q3 🍀Is GoldFinx a community driven project?, How important is the community to GoldFinx and what impact does it have on the project?
ANS: Community is key. Please have a look to our Foundation Heart of Mine www.heartofmine.foundation.
Q4: ✴️ Commonly other projects just create a synthetic token pegged to the gold, but use other method, so can you tell us what are your advantages of typical gold synthetic Tokens?
ANS: Our GiX is not a stable coin pegged to gold. Its value increases because it is backed by an ever growing underlying asset : the gold that we receive as royalties.
Q5: As GoldFinx is a great and ambitious project. Have you considered going beyond the basic transactions and making more comfortable use of ATM withdrawal transactions with the creation of an electronic debit card?
ANS: There is a large community of unbanked miners, but they use mobile money with their phone, this is great market to introduce our GiX as digital money.
Q6: How will GIX be used, what is its conversion rate to gold? Why would you say GiX unlocks the Billions of Euros worth of untapped GOLD, is it too early to say so?
ANS: The potential of small mines is big, today they only produce 20% of the overall production: 35 billions USD each year. They are limited by the access to capital. If we provide the equipment they need they will produce much more.
Q7: So my question goes like this really how far can GoldFinX attain? Only 20% royalties? Or are there really many more projects that you want to develop that are in the nearest future?
ANS: 20% is fair and the ROI is quick, we are partnering with the miners for the long term.
Follow Us On Our Various Social Media Communities For More Update;
From our website you can access to our videos, newsletter, media coverage and all updates www.goldfinx.com
our ambassador program : https://goldfinx.com/ambassador/
and our Foundation : www.HeartOfMine.foundation
FOLLOW AMA LOVERS CLUB ON:
Telegram Group: https://t.me/amaloversclub
Telegram Channel: https://t.me/amaloversclub_channel