BOSTON, September 13, 2018 /PRNewswire/ —
Sudan Gold Coin (SGC), the world’s first gold-backed ERC-20 token project dedicated to socially responsible gold mining operations will be presenting its vision on “Impact of Cryptoeconomics on the future of commodity trading” at Token Fest, the premier conference and expo for the business and technology of blockchain, taking place in Boston on September 13 – 14, 2018.
SGC is part of NetArc AG, a Swiss incorporated company that seeks to overcome the current limitations of commodity trading ecosystem by connecting the traditional world of mineral mining with the speed, security, and transparency of a blockchain and crypto led platform. Each SGC utility token is backed with real-world value, verified by a transparent transaction process and legal framework-a component of which includes formal government approvals such as its Memorandum of Understanding (MOU) with the local governments and land concession agreements with mine owners in Africa initially and offer it to the rest of the world. The project is FINMA compliant and SGC will hold the mined gold in a Dubai based Gold Deposit facility from where it can also be physically redeemed by the SGC token holders.
SGC founding team is in Boston to promote the project and share with potential partners, investors, and community members how the company plans to use blockchain to enable access to gold mining profits. The role of blockchain in the development of mineral-rich countries in Africa and socially responsible gold mining that SGC is pioneering will be some of the hot topics of discussion during their meetings with the crypto community.
“We’re thrilled for the opportunity to finally interface with members of a community that has been incredibly welcoming and supportive of what we want to achieve. Almost overnight, the community has grown to 50,000 strong,” Co-founder Shuval said on the roadshow launch.
SGC (Sudan Gold Coin) is the world’s first blockchain based investment project dedicated to raising funds for socially responsible, local government-backed, gold mining operations in Africa. Each SGC ERC-20 token is linked to 0.05 gms of physical gold at inception with the allotment increasing as more gold is mined by the project’s on-ground operations in Africa.
SOURCE Netarc AG