GST is completely different from many gold digitalisation tasks. It’s not a easy type of conventional “gold customary” tokenisation. As an alternative, GST goals to serve the broader gold worth chain throughout a number of processes reminiscent of gold mining, manufacturing, distribution, gold financing, banking, and securities. GST can be a worth circulation system. It makes use of blockchain expertise to implement gold provenance and traceability, three-party registration and settlement, in order that the inefficiencies of conventional provide chain of gold worth alternate might be shortened, made clear and safer. Because of this, mining firms which can be upstream within the gold business will profit instantly. Their prices might be decrease and they’re going to now not must pay the surplus prices for the circulation and worth alternate of gold, and the gold tokens generated by digitalisation will even be welcomed by downstream gold firms and progressively increase the scope of the enterprise.
The primary utility within the GST ecosystem might be in a brand new type of blockchain recreation.
It is a gold mining recreation known as “Richman”. Gamers play as miner or proprietor to mine and harvest GST and can progressively hook up with e-commerce, social networking and on-line competitors within the ecosystem.
The GST open platform will join digital open banks, issuers and operators of digital gold, and permit taking part banks and different business establishments to make use of blockchain expertise to difficulty, transmit, or stake digital belongings linked to bodily gold. On the one hand, GST is an excellent utility basis within the gold mining business. However, it makes use of listed securities as a foundation to ascertain distributed nodes in numerous fields reminiscent of finance, cost, belief, and circulation, and at last kind a gold financial ecosystem within the digital age.
Hong Kong Jufeng Industrial Group Co., Ltd. (abbreviated as JF) grew to become the primary working node of GST. JF operates gold mining enterprise in a lot of nations all over the world. In 2019, it accomplished a merger with Taxus Prescription drugs Holdings Inc, a NASDAQ listed firm (inventory code: TXSP). TXSP’s medication model Excellagen® has entered the late stage of scientific trial part III and can quickly be used on a big scale. This collaboration goals to collectively construct the applying of digital gold ecosystem. At current, JF makes use of TXSP inventory as an endorsement of GST and it’ll additionally implement purposes within the fields of video games and funds associated to gold. It’s believed that sooner or later, JF will present higher utility providers in additional situations reminiscent of medication and schooling.
“GST is fixing the numerous inconveniences of gold settlement purposes within the period of blockchain. After experiencing completely different requirements of forex in many years, the blockchain or GST makes our forex as soon as once more returned to the monetary and financial foundation of gold,” Royce Hoyin Ng, CEO of Nice Mountain defined. “Due to this fact, we selected Hong Kong Jufeng, which offers each gold mining and securities endorsements, as the primary working node of the digital gold ecosystem.”
SOURCE Nice Mountain Holding Group Restricted