GID Coin is a cryptocurrency backed up by gold bullion and polished diamonds. Creators of the coin will use 2/3 of the coin’s investments to buy polished diamonds, and 1/3 to buy gold kilobars. GID Coin’s team has connections to miners of rough diamonds and gold, and Israeli and Belgian cutters of diamonds. GID coin ICO project merges the mining industry with blockchain, more importantly, gold and diamonds. GID coin is backed by real assets which are meant to make the price of the coin more stable.
What do you know about gold or diamonds? I think that is a resource that is very popular and has a very high selling value in the world and owned only by big companies.Yes, that’s true Countries, which found natural resources (not only gold or diamonds, but oil, coal, ore and etc.) According to GID Coin website's, they speculate that the value is free from market sentiment such as news – maybe they were referring to gold and diamonds and not the token itself. The value of GID Coin is in polished diamonds and gold bars. These are the two most expensive resources in the world. The price of gold is inferior to diamond in the ratio of 2 to 1. This means that 2/3 of the investment will go to diamonds and only one third to gold. This project proposes to store diamonds in banks, according to the following characteristics:
Carat
Color
Clarity
For example, a diamond of 5 carats is estimated at 240 thousand dollars, and 12 carats at 2.8 million dollars. With all the gold the easier it is assessed by weight. Usually, this company focuses on the sale of kilogram bars, which is approximately estimated at 43 thousand dollars.
Team of GID Coin are professionals with 8 years of experience in diamond business and 5 years in golden business. Have broad connections in Africa, Russia and Canada. Working very close with miners of gold and rough diamonds (governmental and private) have connections with Belgian and Israel cutters of diamonds and also have connections with gold refineries in Austria, UAE and Andorra.GID Coin is supported by well-known persons, which are Advisors of the ICO.
We can read the white paper of GID Coin here
The white paper describes the GID coin in the following manner:
“We want to make international currency covered by two most valuable precious goods in the world, powered and secured by Blockchain. Invest into Coin which: – covered by real assets, which are secured and insured; – value is free from rumours and decisions of the countries; – value is always growing or stable during financial depressions.”
GID Coin has to become an international currency covered by two most valuable precious goods in the world, powered and secured by Blockchain.
GID Coin is invest into coin which:
– covered by real assets, which are secured and insured in vaults of the well-known banks;
– value is free from rumours and decisions of the countries;
– value is always growing or stable during financial depressions.
There are two ways of work for the company:
to buy final product (polished diamonds and bullions) from the producers and miners;
2. to arrange whole process from the very beginning, use less money and to take bigger profits.
Proportion will be as follows – 30% of budget goes for the purchase of the final product and the rest 70% will be used for the full cycle of production.
On second stage we invest into mining site in Africa (Angola – primary, secondary – Botswana or Namibia) as private entity and begin to produce rough diamonds and gold ourselves. For our luck rough diamonds and gold are based at the same territory, so there is no need for separate mining sites. Everything goes from the one land.
PGID = 0,5*(Vd*PmR+Vg*PmLBMA)/VGIDT ,
where:
PGID – Smart Token (GID) price
Vd – Volume of Secured diamonds, owned by company
PmR – Monthly Price of diamonds (according to Rapaport)
Vg – Volume of Secured gold, owned by company
PmLBMA – Monthly Price of diamonds (according to London bullion market (LBMA)
VGIPT – Smart Token Total Volume (GIDs total Volume)
At ICO launch the GID price will be average $20 which can vary during the crowd-sale due to the revisions in the exchange rate: ICO investors are given GIDE (GID pre-launch) tokens that can be converted to GID after company has secure enough polished diamonds and gold bullions;
GIDE tokens will be moved to new blockchain platform and converted into GID in a 1:1 proportion;
Advantages of using DGP rather than Ethereum are as follows:
Safer — DGP blockchain uses its own coins rather than Turingcomplete smart contracts.
Fungible — DGP uses Point-of-Stake (PoS), and since it relegates its platform to GID transactions alone (rather than to additional ICOs) processes your transactions faster.
Cheaper — There is no commissions for small transactions (not more than $1000).
COIN PRICING
At ICO launch the GID price will be average $20 which can vary during the crowd-sale due to the revisions in the exchange rate;
ICO investors are given GIDe (GID pre-launch) tokens that can be converted to GID after company has secured enough Polished Diamonds and Gold Bullions;
GIDe tokens will be moved to New Blockchain (GDP – Gold and Diamonds Platform) platform and converted into GID in a 1:1 proportion;
Soft cap for ICO is USD 40’000’000,00. If less than that is raised, the investors receive their funds back;
Hard cap for ICO is USD 490’000’000,00;
GIDe tokens are released when tokens are distributed around one month after ICO ended.
TOKEN POLICY
To provide investors with whole range of advantages of GID Coins Gold&Diamonds plan to build our own blockchain platform (DGP – Diamonds & Gold Platform). However, to reduce costs of the project at the early stages GID coin will be based on Ethereum (ERC-20). GID Coin is the hybrid payable-asset token (securities).
ROADMAP
Q2 – 2018
Completed Whitepaper
Website www.gidcoin.io
Pre-Sale for primary investors
First purchases
Start of bounty campaign
Q3 – 2018
New website
Mobile application
Pre-ICO (GIDE) 07.2018
Beta version of GDP blockchain
First full cycle production of diamonds and gold
Q4 – 2018
ICO Campaing (GIDE) 09.2018
Alfa version of GDP blockchain
Exchange of GIDEs to GIDs
Second cycle of production of diamonds and gold
Q1 – 2019
Listing of GIDs at the exchanges
Launch of mining via platform
Trial immision of Revolut MC credit card
Third cycle of production of diamonds and gold
Q2 – 2019
Launch of the own mining site
Launch of cutting workshop in Spain
Launch of small refinery in Swiss
Branches in Angola, USA, Belgium
Q2 – 2023
Start of Buyback campaign
Conclusion GID solves the costly and costly problem. The platform is a prime example of the meaningful use of smart contracts and is therefore absolutely groundbreaking for the future. With their experienced team and a very good vision, this is a serious project with great prospects of success.
so thats it, i think enough for explantion about GID Coin. I wish their website had more information. visit their link and maybe you guys interresting with GID Coin Project.
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