GCGC investments announced the launch of its global mining initiative which utilizes blockchain technology and DeFi (decentralized finance) architecture. This combines the centuries-old mining industry with emerging technology to form a decentralized financial ecosystem geared towards disrupting financial intermediaries.
“The global system of commodities and mineral resources is the foundation for production around the world,” states Jonathan Shek, CEO of GCGC. “Advances in technology have now created an urgent need to transform the very fabric of the trading and financial services systems linked to our systems of production. At GCGC, we combine the best in economic fundamentals with the latest technology to create a better way to trade, get access to financial services, and transform the mining industry.”
Revolutionizing a $600 Billion Mining Industry with Blockchain Technology and Green Mining Initiatives
GCGC unlocks the latent value from gold and mineral deposits by fractionalizing participation, powered by blockchain networks that tokenize gold, other resources and transaction settlements.
Partnering Trident Mining, of which GCGC is a shareholder, GCGC Mining identifies and develops mines in Chile and Argentina, with plans to expand mining over to Zimbabwe and Indonesia.
GCGC Mining is also spearheading green mining, using bio-leaching reagents to recover gold from tailings. Compared with leaching toxic substances such as cyanide and mercury, the plant will be able to reduce its environmental impact while continuing to extract value from the mines.
The GCGC Global Mining Initiative has further expansion plans to acquire other mining companies and concession rights, initiate joint ventures with large mining companies, and invest in sustainable development technologies, in order to move upstream in the value chain. According to the GCGC white paper, its goal is to become “one of the largest mining companies in the world”.
DeFi at the Core of GCGC Mining, FinTech and E-Commerce Solutions
Underpinned by blockchain technology, GCGC will implement DeFi architecture as the core of its financial ecosystem. Together with GCGC Mining, the other two businesses in the ecosystem are Pillar Finance, its fintech group and Ethical Culture E-commerce (ECEC), its e-commerce arm.
GCGC tokenizes assets by developing mining assets all around the world, extracting profits to convert into gold. This powers a worldwide marketplace, creating a new financial and trading ecosystem based on a token that, when regulations permit, will be backed by vaulted gold. Trading is supported by a wide range of decentralized financial services from Pillar Finance, to facilitate and drive international trade.
The token-based currency can be adopted across a wide range of trading and e-commerce platforms, which will give it value, measured by its exchangeability with real world goods and services. ECEC creates an entire e-commerce and trading ecosystem around ‘Utilization Marketplaces’ powered by blockchain technology, with the GC$ token as the currency of choice for trade and settlements.