Empowering Artisanal Gold Mining Through Cryptocurrency | 2020-05-11 | Investing News

(Image via GoldFinX.)

“The best investment on Earth, is earth.”

That is the mantra behind GoldFinX, a fintech 2.0 Company targeting a massive untapped global gold resource with a Click to enlargeunique digital platform.

GoldFinX’s focus is on artisanal gold miners, a segment of the industry that represents roughly 15-20 million people, compared to the 2 million who capitalize on the major industrial gold market. Despite the massive potential among artisanal mining, they lack access to traditional financing, such as equity and debt, the two main classes of assets used by most major miners to advance their business.

How to solve this financing problem?

What GoldFinX set out to do was introduce a third type of financial asset class into this financial world – cryptocurrency.

By bringing crypto into the picture, the Company aims to solve most of this problem, as it offers investors a way to equip gold miners and benefit from this financing through its crypto asset – the GiX coin.

The Company had deemed this to be the biggest problem for gold miners, and GoldFinX leadership saw this firsthand at the recent PDAC 2020 conference, taking stock of just how many companies in this market are looking for money. Even so, access to capital is extremely difficult when you are not running a major organization, or if you are not a part of an established public company, as Stockhouse readers are well aware.

Gold is sold:

The onus is on the Company’s leadership team to choose the right miners and the right mining projects as they spend a great deal of time vetting mining candidates to support. Over the last two years, they made a list of mining projects that are ready to be funded, and the list contains potential targets, partners, and mining companies based on three key criteria: Team, location and stability.

As the artisanal market of gold mining is neglected, financing from GoldFinX is expected to be substantial. Its business model is…

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