Blockchain Shows How It Revolutionized The Gold Mining Industry!

• – The world has benefited from the security and transparency that revolutionary cryptocurrency technology has brought, especially in places where there is a lack of the infrastructure necessary to assure equity.
• – By 2025, it is expected that businesses would spend $20 billion annually on blockchain technical services due to their utility in the fields of government, banking, insurance, and personal identity security. Blockchain has been increasingly well-known over time, transforming the gold mining industry.

Over $200 million has been spent on research on the technology by tech behemoths like IBM, and over 90% of banks in the US and Europe are looking into blockchain options. Even though blockchain technology has only just gained widespread attention, it is already on course to seriously disrupt several different businesses.

• – Everything of value can be recorded and traded on the blockchain network, lowering risk and expenses for all parties and making the technology so revolutionary. Blockchain technology can facilitate the process by recording transactions and tracking assets across a network thanks to its shared, immutable ledger, regardless of whether the assets are tangible (like a house, car, cash, or land) or intangible (like intellectual property, patents, copyrights, or branding).
• – Gold mining is one industry where blockchain in particular has the potential to bring about significant change. Gold has long been utilized as a low-risk inflation hedge, but in today’s world of rising environmental awareness, the asset is proving difficult. Mining gold primarily for commercial gain (which frequently occurs nearly without the distribution of actual gold permits) causes unneeded environmental harm and exacerbates the effects of climate change. By using blockchain technology to uncover the value of gold deposits on Earth, Nature’s Vault, a fintech and Greentech startup, is tackling this issue and promoting the avoided environmental and climate change effects of mining.
• – The original mining rights owned by Nature’s Vault cover gold resources spread across more than 400 acres of forests and lakes in Ontario, Canada. There are thought to be 125,000 troy ounces of gold in this deposit, which goes by the name of “Pistol Lake.” Since the patented mining rights to this deposit are perpetual, the ecosystem will always be shielded from exploitation. Independent measurements of gold resources have been made using the same strict criteria that big and small investors alike rely on to assess publicly traded mining firms.

The CEO of Nature’s Vault, Phil Rickard, recently stated in a press conference that “we now have the new tech and reliable production reports to tell us how much gold is on the ground, as well as the blockchain that enables us to tokenize these gold mines and make money by trading on digital exchanges.” The business, whose mission is to “keep gold on Earth” or “Nature’s Vault” to preserve areas that may be targeted for gold mining and minimize the environmental effects of traditional gold mining, is blazing a new route ahead with its blockchain-based platform.

With a public debut anticipated for Q4 2022, tokenized gold will be sold as the $NVLT Legacy Token to scale climate change and environmental damage mitigation. The Reserve-to-earn Prospector Staking Program, which will have a total supply of 500 million Legacy tokens and comprise three separate staking pools with payouts dependent on various lockdown criteria, has been given 75 million tokens by the project. Upon distribution of the supply for each pool, the maximum amount that may be held in each pool (33.3 percent of the total circulating supply) will be reached.

The ultimate goal of Nature’s Vault is to provide holders of Legacy Tokens with a portion of the carbon offsets produced by avoiding mining through staking incentive schemes and airdrops.