- The global market of rough diamonds in world counts more that 150 million of carats, which cost in total more than 180 billion of US dollars yearly and it’s still growing.
- The gold market is inherently global and gold is traded continuously throughout all time zones. The most traditional way of investing in gold is by buying bullion gold bars.
Gold and Diamond Features
- Natural Resources
- Limited
- Mined
- Owned by Big Companies.
- Very Expensive
GID Goal
GID aims to create an international currency that:
- Covered by two most valuable precious goods in the world (Gold and Diamonds).
- Powered and secured by Blockchain.
Ways of Work
There are two ways of work for the company:
- Purchase the final product (from producers & miners)
- Arrange the whole proces (start the process from the beginning)
The economy between purchasing of final products and carrying out of all the way of raw materials to the complete product is enormous up to 5-10 times.
The major difference is time.
- Purchasing of final product takes 1-14 days.
- The lifetime of raw products (rough diamonds and golden dust) from mine to safehouse as certified product takes 60-90 days.
GID plans to use the funds as:
- 30% goes for purchasing the final product.
- 70% goes for the production.
Company has enough experience and connections in African countries to start purchasing and mining without risks.
Using the Blockchain
The blockchain is a tamper-proof, encrypted database secured by cryptography that acts as an accounting ledger keeping track of digital assets. Instead of being maintained by a single server like traditional databases, blockchains are decentralized and maintained by a distributed network of computers around the world.
GID, like all blockchain technologies, uses an incentive-driven model of security. Consensus is based on choosing the block with the highest total difficulty. Miners produce blocks which the others check for validity. Among other well-formedness criteria, a block is only valid if it contains proof of work (PoW) of a given difficulty.
- A miner receives a GID commission from each processed block. No Coins are emitted once the block is processed.
- All the gas consumed by the execution of all the transactions in the block submitted by the winning miner is paid by the senders of each transaction.
- You can use your computer’s central processing unit (CPU) to mine GID or arrange GPU mining.
Roadmap
Fund Allocation
Most of expenses will be as following:
• General purchases of raw or final assets
• Marketing and PR
• Business Development
• Legal expenses and taxes
• Exhibitions
• Safehouse for goods – Payments for storage
• Ethereum costs at the first stages
Finally
GID Team 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.
✅Website: https://www.gidcoin.io/
✅Whitepaper: https://gidcoin.io/wp-content/uploads/2018/05/WhitePaper_En_GIDCOIN_0418.pdf
✅Twitter: https://twitter.com/gid_coin
✅Facebook: https://www.facebook.com/gidcoin/
✅Reddit : https://www.reddit.com/user/GIDCoin/
✅Medium : https://medium.com/@gidcoinchannel
✅Telegram Group: https://t.me/gidcoin
✅LinkedIn: https://www.linkedin.com/company/gidcoin/
Author of article:
✅Bitcointalk username: Erik_Smuel
✅Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2020517
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