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Cryptocurrency’s revolutionary technology offers both security and transparency, benefiting many causes around the world, especially when the infrastructure to provide fairness is lacking. Its utility across government, finance, insurance, and personal identity security has created a market for blockchain technology services. predicted By 2025, annual corporate spending is expected to reach US$20 billion.
Tech giants such as IBM have invested heavily in technology, investing over US$200 million in research and over 90% of European and American banks have invested in this technology. Exploring blockchain optionsBlockchain has taken the world by storm in the last few years, but the technology is already becoming a legitimate disruptor in many industries.
What makes blockchain technology so revolutionary is that anything of value can be tracked and traded on the network, reducing risk and lowering costs for everyone involved. Through a shared immutable ledger, blockchain technology records transactions regardless of whether assets are tangible (houses, cars, cash, land, etc.) or intangible (intellectual property, patents, etc.). , facilitating the process of tracking assets across the network. , copyright, or branding.
One area in particular where blockchain has the potential to bring massive changes is gold mining.gold has historically hedge against inflation While still a low-risk investment, in today’s environment of increased environmental awareness, this asset is proving problematic. Mining gold primarily for trading purposes—much of which is done virtually without the distribution of physical quotas for gold—is an unnecessary burden on the environment and exacerbates the impacts of climate change. This encourages fintech and greentech company Nature’s Vault to use blockchain technology to unlock the value of underground gold deposits, thereby avoiding the environmental and climate impacts of mining. It’s a problem we’re dealing with.
The first concession acquired by Nature’s Vault covers more than 400 acres of forest and lake gold deposits in Ontario, Canada. The deposit is called ‘Pistol Lake’ and holds an estimated 125,000 troy ounces of gold. The patented mining rights to this deposit have no expiration date, so the environment is protected from mining indefinitely. Gold deposits are uniquely quantified according to the same rigorous criteria developed and trusted by investors large and small when evaluating public mining companies.
Nature’s Vault CEO Phil Rickard commented: A recent conversation with the press. Aimed at “holding gold on earth, or ‘nature’s vault’, protecting the environment likely to be subject to gold mining and avoiding the environmental impacts of conventional gold mining The company is blazing new trails with blockchain. base platform.
In order to fund the acquisition of more mines and thereby increase the mitigation of climate change and environmental damage, the tokenized gold will be traded as the legacy token $NVLT, with a public launch in the fourth quarter of 2022. Scheduled. We issued 500 million legacy tokens and set aside 75 million tokens for our Prospector staking program, where you can secure and earn 75 million tokens. Each pool will be capped at 33.3% of the total circulating supply and will be retired once each pool’s supply has been distributed.
Ultimately, Nature’s Vault’s vision is to return a portion of the carbon offsets generated from avoided mining to legacy token holders through a staking rewards program and airdrops.
The company is currently seeking approval from relevant carbon registries to develop new protocols to encourage the avoidance of greenhouse gas emissions associated with gold mine development and operations, as well as ore transportation and processing. Beyond reducing carbon emissions, the protocol is also expected to demonstrate important environmental benefits of avoiding mining, such as biodiversity conservation and clean water.
Blockchain technology continues to take the world by storm, disrupting many industries in the modern world. Gold mining is one of these days. Projects like Nature’s Vault continue to push the boundaries by using blockchain technology to pioneer more climate-friendly practices, allowing assets like gold to be stored instead of mined. . Explore Nature’s Vault website Learn more about this exciting new technology today.