August, 2019, Sierra Leone: iCoin Worldwide is owned by Millennium Mining Company, and opts to leverage the facility of blockchain and synthetic intelligence to ship effectivity, pace, and transparency to the dear gem trade. It has introduced the launch of its preliminary alternate providing (IEO) in collaboration with LATOKEN to present a chance to early backers to help the event and progress of the platform.
Diamonds are one of the vital wanted treasured gems and have nice worth in each the economic and social sectors. Their use within the manufacturing of aesthetic jewelries in addition to their well-known bodily property as one of many hardest naturally occurring materials makes them really invaluable. Nevertheless, the shortage of a correct monitoring infrastructure has led to the shortage of clear and efficient mining and distribution operations of diamonds, and onerous authorities insurance policies have solely made the unlawful distribution extra prevalent.
iCoin will tokenize the diamond mining trade, and introduce a well-organized real-time monitoring and auditing system into the dear stone trade utilizing rising applied sciences such because the blockchain and synthetic intelligence. It will allow the platform to create a holistic enterprise surroundings for diamonds to thrive and create a complete new financial system out of diamonds.
The platform goals to obtain the next with the incorporation of blockchain know-how into the diamond mining enterprise:
- To construct a trustless community and not using a likelihood of corruption or duplication of information.
- Present a system with automated and on the spot transactions by using a wise contract.
- Allow transparency for all monetary transactions by an open and distributed ledger.
- Every diamond extraction might be time-stamped on the blockchain, giving full traceability on the ledger all through the provision chain.
Distinctive Promoting Level
Millennium Mining Company is positioned in Freetown, Sierra Leone – a rustic well-known for its diamond operations and has a big diamond trade with about 2,500 small-scale operations. In 2018, the nation exported over USD 150 million value of the diamonds.
Millennium Mining Company has carried out a number of checks within the location of Baimbawai Pool within the Sewa River. The pool is a deep part of the river with slow-moving water. Primarily based on the geological surveys and the potential, it’s estimated that the pool has round1 to 1.5 million cubic meters of diamond-bearing gravel with grades starting from zero.2 to zero.5 carat per cubic meter. This interprets into roughly 200,000 to 750,000 carats of diamonds within the pool. Earlier mining within the space has proven outcomes as excessive as four carats per cubic meter. The biggest diamond that Millennium Mining Company has discovered is a transparent eight.25-carat piece in 2005.
Earnings made out of the mined diamonds might be injected again into the iCoin market and thereby facilitate the expansion of the platform with a projected iCoin valuation of about 5000% return on worth progress over the course of 5 years from the launch of the platform.
In the long run, Millennium Mining Company plans to launch into different pure useful resource markets, thereby increasing its base of operation in accordance to set timeline.
iCoin: Tokenizing Mining
The blockchain mining operations for the diamonds might be monetized by ICOIN, the ERC20 native token of the iCoin platform. The ICOIN is at the moment being provided to early backers by an IEO occasion on the LATOKEN alternate, giving a chance to participate within the floor launch of the iCoin platform in addition to its improvement. Merchants and traders who’re already customers of the LATOKEN don’t want to undergo anti-money laundering (AML) and Know Your Buyer (KYC) verifications.
There are solely 600,000,000 ICOIN tokens ever to be minted, with 10,000,000 tokens provided in the course of the IEO occasion at a problem value of USD 1 per token, and a minimal funding of USD 100. Backers can receive the tokens utilizing BTC, ETH or USD by LAToken.com alternate. The ICOIN tokens might be launched to traders as quickly because the occasion is over, giving them an opportunity to commerce the tokens, use as a medium of alternate or maintain to acquire earnings. The cash raised from the IEO might be used to finance the mining operations, together with the mining proceeds being funneled again into the iCoin Worldwide market.
iCoin is a utility token will serve each as a forex to buy diamond merchandises on its web site, the token may also be obtainable for commerce with different ERC20 tokens within the secondary market, and lastly, a yr after the IEO, Millennium Mining Corp will supply up a buy-back program for iCoin Worldwide token on the market value price.
Contact Title: Elieen Adams
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Disclosure: It is a sponsored press launch