The pursuit of gold in modern times can be traced back to the gold rush in California in the 1850s. Today, gold has become the most common symbol of wealth in the 19th century. In 1944, the establishment of the Bretton Woods System linked the U.S. dollar to gold. The price of Gold at that time was USD$35 an ounce. Due to the international status of the United States at that time, gold became a safe haven asset for people in turbulent countries.
In recent years, blockchain technology has developed rapidly, and cryptocurrencies such as Bitcoin have become the younger generation’s choice for asset hedging and investment. Cryptocurrency has challenged the status of gold and has been the topic of debate between the advent supporters on both sides of the spectrum.
There were also some projects in the crypto field that tried to combine gold with cryptocurrencies, such as Paxos, GGC, TMTG, LDG, etc. However, all they did was to anchor their price of tokens with the price of gold, lacking an in-depth look at the business model. After all, the use of physical gold as a store of value was incomplete as the vaulting costs of the assets would erode its value as an asset without utilizing its value.
Finally, a project, which allows you to participate in the gold rush in a new era and truly combines blockchain and gold, is born.
Introducing The GCGC Project:
GCGC is a project that aims to merge the centuries-old mining industry with emerging blockchain technology and DeFi. By combining the economic fundamentals of gold with the latest blockchain technology, we will create a better way to trade and access financing that will push the mining industry into a new stage. Therefore transforming the trade structure, and promoting economic growth and prosperity in developing countries.
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.
GCGC Mining
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 with 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”.
Pillar Finance
PILLAR Finance is one of the core pillars of the GCGC ecosystem. PILLAR Finance is a financial technology solution platform that will support the GCGC ecosystem with DeFi financing, payment gateways, over-the-counter transaction gateways, digital banking solutions, etc. Its goal is to provide users in the GCGC ecosystem with inclusive, safe, reliable, and sustainable financial services; to provide a level playing field for businesses in the GCGC ecosystem, and to provide financial services to anyone, at any time, anywhere.
Currently, PILLAR Finance is developing payment service gateways, DeFi financial service platforms, over-the-counter transaction network management, bitcoin custody and loan platforms, and digital banks. PILLAR Finance is currently doing compliance work, and services can be provided upon approval by the regulatory department.
GCGC will continue to promote PILLAR finance’s development through continuous innovation of its financial products, acquisition or joint venture financial technology service companies, the use of artificial intelligence and big data analysis, and cooperation with traditional finance.
ECEC E-commerce
ECEC e-commerce is the e-commerce pillar of the GCGC ecosystem, which will allow GC$ tokens to be used and circulated within the GCGC ecosystem. GCGC will create a complete business ecosystem around the “Utilization Marketplaces” driven by blockchain technology and centered on proprietary GC$ tokens as the preferred currency for transactions and settlements.
The Utilization Marketplace refers to an e-commerce and trading platform that accepts and encourages GC$ tokens as the settlement currency. Users can use GC$ tokens to exchange real goods and services, and merchants can also use GC$ tokens to pay for other goods and services after accepting GC$ tokens, or exchange GC$ tokens for GC tokens which are are then redeemed into fiat currency through the PILLAR finance or a third-party OTC counter.
Currently, ECEC E-commerce includes GCGC’s partners, the Global Partnership Exchange (GPX) and the Food Security Exchange (FSX).
Tokenomics:
There are two types of tokens in the GCGC ecosystem: GCT tokens and GC$ tokens.
GCT Token
GCT tokens are the main utility tokens in the GCGC ecosystem and users can use GCT tokens to participate in mining, financial technology, or E-commerce activities.
Token name: GCT
Token distribution:
Financing: 2.5 Billion, accounting for 25%.
Management: 200 Million, accounting for 2%.
Reserve treasury: 2.96 Billion, accounting for 29.6%.
Future projects: 4.16 Billion, accounting for 41.6%
Trident Mining Company: 180 Million, accounting for 1.8%
GC$ Token
GC$ tokens are the reward tokens of the GCGC ecosystem and are used as currency settlement tools in the market. They can be used to exchange goods and services in the markets.
There are 3 ways to mint GC$ tokens.
Method 1: One GC$ token can be minted for every 10 mg of treasury gold
The main way to mint GC$ tokens is to buy vault gold and deposit it in the vault. For every ten milligrams (10 mg) of gold purchased, one GC$ token (1 GC$) can be minted. GCGC will use 80% of its profits to buy treasury gold and mint GC$ tokens of corresponding value into circulation. Participants will obtain GC$ tokens minted in this way according to the projects they participate in.
Method 2: One GC$ token can be minted for every 100 mg of confirmed resources
Based on the measured and inferred (M+I) gold-equivalent resources as confirmed by an independent appraisal, a portion (e.g. 10%) of the resources of the mines owned by investee companies of GCGC Investments Ltd is recognized each year, against which GC$ tokens are issued on a daily basis. For every hundred milligrams (100 mg) of recognized resources, one GC$ token (1 GC$) can be minted*.
In order to avoid double-counting, the dividends obtained by GCGC from the mining pool will still be used to purchase vault gold until the amount of vault gold is equal to the circulating amount of GC$ tokens minted according to Method 2. Once the balance is reached, method 2 will cease to be used, and the mechanism for minting new GC$ tokens will adopt method 1.
* Ultimately, GC$ tokens minted in this way will be replaced with vaulted gold, and when regulations allow, be backed by vaulted gold.
Method 3: For every dollar deposited into the escrow account, one GC$ token can be minted.
Merchants and traders in the Utilization Marketplaces can opt to settle their trade in GC$ tokens. For every United States dollar (US$1.00) placed into a custodian account from the purchase of GC tokens on the Utilization Marketplace back-end system, one GC$ token (1 GC$) can be minted.
This method of minting will depend largely on the demand in the Utilization marketplaces for GC$ tokens as a settlement currency. If the demand for GC$ tokens exceeds the current supply of GC$ tokens, users can deposit US dollars to the escrow account to mint GC$ tokens.
For every dollar deposited in the escrow account, 1 GC$ token can be minted for transaction settlement. This will ensure that there is always enough GC$ tokens for trade settlement in the utilization marketplaces, as well as enough liquidity in fiat currency. After withdrawal from the escrow account, the corresponding GC$ tokens will be destroyed to maintain the backing of each GC$ token. This method is only a temporary measure to deal with the huge increases in demand, and activation can only be triggered by the Utilization marketplaces.
Project Development Roadmap:
Backed by a World-Class Team:
The team of GCGC consists of world-class professionals who specialize in industries such as finance, investment banking, mining, and technology amongst others.
CEO Jonathan Shek, PBM, leads the GCGC Global Initiative and has extensive experience in project finance, development and management, civil engineering, and venture capital in China and Southeast Asia. Mr. Shek has advised more than $10 billion worth of investment transactions in Southeast Asia and managed construction of projects with a value in excess of $5 billion.
Founder Wee Tiong Howe is widely considered the father of financial planning, having achieved national and regional recognition and success in the financial planning industry and insurance profession for over 40 years. As Chairman of IPPFA, he has recorded many firsts and overseen many changes for the betterment of the industry.
CEO of Trident Mining Leon Aleksander has over twenty years of experience in precious metals, arbitrage/mining, manufacturing, and import/export in Latin America, Asia and the United States. Founder and CEO of Trident’s gold trading company in Chile with over US$50 million worth of gold bullion exports to date.
CTA (Chief Technology Advisor) Lim Hui Jie is the Founder and Executive Director of Vision Group, an Innovation-as-a-Service technology group that implements blockchain, AI and cybersecurity technologies. He has sat on the Board of 3 listed companies and successfully listed his company onto the Australia Stock Exchange in 2015, achieving a market valuation of over USD 230 Million.
For more details about the GCGC project, please visit the Official Website: https://www.gcgc.one
GCGC Officials:
Twitter: https://twitter.com/GCGCcommunity
Facebook: https://www.facebook.com/GCGCcommunity
LinkedIn: https://www.linkedin.com/company/gcgc-investments-limited
Telegram: https://t.me/gcgccommunity
Medium: https://gcgccommunity.medium.com
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