Review on InnovaMinex by David Olayide
InnovaMinex Platform For Tracking Precious Metals
Just like we keep saying, the numerous blockchain projects and platforms being developed today, work for very many different purposes. The InnovaMinex is a business model that makes use of the blockchain technology to facilitate the tracing or tracking of precious metals. By engaging a set of protocols it is possible to certify the whole process, right from its origin in the local mines, to the refinery and the commercialization to the end consumer. All the various steps or stages through which it passes is clearly outlined.
At first I was impressed to see this particular kind of blockchain application in the precious metals sector. It was not something I would have expected so I have to say that it is a really Innovative idea. Through this system, buyers can easily determine if the products are legal and that transactions are safe and free of money laundering.
Making gold and other precious metals more accessible to all the people through the native cryptocurrency, of the InnovaMinex platform, (INX) is more or less the main goal of the project. INX is the official utility token used on the platform, and has a total supply of 300,000,000 tokens. I don’t have any information yet of the amount of circulating supply though.
Like I said earlier this is a quite interesting project, and I know that it will serve it’s purpose of given the chance to be recognized internationally by the entire cryptocurrency community. Precious metals can now be tracked effectively.
Pros
- Tracking of precious metals from the mine to the refineries
- Customers can easily determine if the products are legal
- Innovative technology is applied by this project
Cons
- More information is needed about the project and it's development
