HashCash Consultants is working to shape a highly conceptualized model involving the gold mining industry. This model is formed with the idea of restoring the naturally occurring minerals that are on the brink of exhaustion.
Extensive mining is leading to some valuable mineral resources getting exhausted. Severe conflicts arise from the sources of valuable minerals like gold. This model aims to alleviate such social and ecological problems around unearthing valuable minerals.
In this process, the resource of gold is located and the volume of gold that can be mined from the site is estimated. The ore is never physically mined, but is tokenized per its worth and sold on an exchange. This is deemed to be the original Eco Gold. Investors purchase the digital tokens that represent an Eco Gold vault quantity (eg. gram/oz of gold in the ground).
Research reveals gold mining is already tipping at its ‘peak’. This implies that most active sites are nearly exhausted. The depletion process is usually spread over a few decades until total exhaustion.
During this time the project being considered by HashCash has utmost utility. The project will require the extensive implementation of blockchain technology and hence is expected to operate through safe channels. Having said that, the concept can only be realized on the basis of trust on many levels.
In CEO Raj Chowdhury’s words, “The concept of an Eco Gold Vault is a potent one. This is capable of resolving a lot of issues, especially in conflict zones. This project will create fair opportunities for traders and also preserve natural resources. However, realizing this idea will call for the establishment of a significant level of trust.”