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InnovaMinex Uses Blockchain Technology To Guarantee The Traceability Of Precious Metals

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Below is our recent interview with Paco De Benito Prous, Director of Communications at InnovaMinex:

Paco De Benito Prous

Q: Could you provide our readers with a brief introduction to InnovaMinex?

A: We have created a special business model which integrates different and innovative solutions for the precious metals market.

On one hand, what supports our cryptocurrency is a very solid business with 4 main pillars: 7 gold mines – refinery – ecommerce – ATM network. As we control the entire business chain, we can trace through blockchain the whole process, from when the gold leaves the mines until it reaches the end consumer. So we will deliver a product of the highest quality along with the certifications and information about the purity of the gold, it’s origin and history, that the mining is legal, eco-friendly and that all health and safety regulations have been abided by.

On the other hand, our model is disruptive in the crypto space by the way we have combined the gold mining sector with a cryptocurrency, to be able to offer the highest purity gold with great discounts (up to 30% for anyone buying gold, silver, diamonds,… with our crypto). In addition, anyone holding the INX tokens in a wallet during 3 months, will get part of 25% quarterly profits of InnovaMinex, distributed in the form of discount vouchers, which can be as high as 90%. We will expand the precious metal market so that anyone who can’t normally afford to buy these kinds of products will have a good and continuous opportunity to do it.

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Q: You are now on your token sale; could you tell us something more?

A: We launched our token sale on November 26th, and as people get to know the details of the project, interest and viralisation are increasing. So far we have raised $3 million, but the most interesting news is that the InnovaMinex project is already underway: we don’t need to reach any softcap to start. The first mine is in the phase of construction and assembly of the processing plant, and that’s positive for INX buyers, because INX is going to be tradeable in the Exchanges very soon.

Q: What are the benefits of investing in precious metals and the mining industry?

A: Unlike many other crytocurrencies, we don’t need to create the demand for our product. The demand for gold already exists, and it’s increasing year after year. The production doesn’t fit the demand. If the economy is going well, gold is bought; if the economy shows doubts or uncertainties… even more gold is bought. So if anyone can buy gold at a lower price, everybody will understand the advantages of buying INX, and not as a speculation tool, but as a authentic means of payment.

Additionally, we are going to create a new market which will be very interesting for the numismatic sector: real and tangible “virtual coins”. In our refinery we will mint limited edition collectables of gold and silver coins, with different gramages, with the logos of the most populars cryptos: Bitcoin, Ethereum, Dash, Litecoin, Ripple, Neo, of course, INX, and many others. People love to touch the precious metal and will enjoy the experience of “feeling the weight of the cryptos”. And they will look for the 5 g gold Dash, or the 1 oz silver Bitcoin, or any other, because… “it’s the only one missing from my collection”. If you can feel the weight, touch the texture and see the brightness of gold or silver, if you can play with a “piece of crypto” in your hands, the desire to purchase these kinds of items will increase, and so will the value of the collectables.

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Apart from this, is not jewelry interesting? Would anyone like to purchase a handmade gold ring, a diamond or a pearl necklace? The users in the INX Community will have access to the highest quality products at the best possible prices.

Q: What is the value of the INX token?

A: We all know that the value of any token depends on the market, on the supply and demand. BUT… we have created a very attractive model, in such a way that the holders of INX tokens will realize the intrinsic value of what they have in their wallets. After 3 months holding, the users will get discount vouchers (up to 90%) redeemable for precious metal products in our e-commerce platform. So regardless of whether the token goes up or down, someone who holds the tokens in one’s wallet will get something really valuable. This will help the market supply to decrease. And if, at the same time, someone who buys our precious metal products, pays with INX tokens, he/she can get up to 30% discount on the market price, this will help the market demand to increase, because the demand for gold is increasing over time. If the supply decreases and the demand increases, what will happen with the value of the INX?

About 90% of the funds that we have already collected come from people who have never invested in cryptocurrencies, we have investors who don’t really care very much about cryptos, but who are buying INX, and some of them have told us that to them it makes no difference if the value of INX goes up, down or sideways, because with such incredible discounts vouchers for the holders, to buy gold and other precious metals, the evolution in the value of INX is not the main thing to them. All the statements in this paragraph show that we are creating something truely different within the crypto world, a strong and stable cryptocurrency, which is going to be seen as a very interesting means of payment. In fact, we’ve already got companies in different sectors from mining, which have told us they want to talk about the possibility of accepting INX as a means of purchasing their products… and INX has not begin to be used yet!

Q: What is on the roadmap for InnovaMinex moving forward?

A: As anyone can see on our website, our project begins with 7 gold mines, in the mining project (our first pillar). But we are talking with other mine owners who would like to be in our platform, so that we could increase the number of mines in the future. In the same way, we are talking with other wholesalers who are interested in the possibility of offering their products to a wider range of users. And, of course, the companies which have seen in our token a solid means of payment to be accepted to buy their products (outside the mining sector).

So our growth potential is huge in many different lines of businesses, but we need to do things step by step. The next milestones are to set up the 4 pillars of our project, and to explore, at the same time, many other interesting mining opportunities which are in need of financing and which find appealing the new economic trends, more than the standard and classical fundraising formats.

We want to positively change the way things have been done so far in the mining sector and in the precious metals market, and we want everybody to witness those changes and see that they are good for everyone involved in our ecosystem.

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