GoldBox ICO (GOX Token): Crypto Loans Backed by Digital Assets?
GoldBox strives to provide users with an integrated blockchain-based application to allow for safe storage of digital assets, fiat currency loans, digital assets mortgages, and management. Their blockchain solution provides users with an alternative solution for exchange digital and fiat currency while relying on blockchain technology. Additionally, GoldBox seeks to combine the power of AI with blockchain to provide an automated operating system that is based on a user-centric ecology to facilitate an advanced digital asset management platform.
What They Are Looking To Solve
There do exist challenges that face digital assets holders, and this is what GoldBox wants to overcome. These challenges include
- Storing multiple digital currency or assets
- The technicality and complexity of redeeming or transacting using digital asset
- Poor value transmission
- Insufficient blockchain performance
- Insufficient application scenarios
Solutions Presented by GoldBox
- Secure storage: Safe storage is a critical link for GoldBox, and this is evident from the provision of its digital wallet that supports mainstream tokens through secure multiple encryption protocols. The GoldBox platform intends to use security measures such as wallet reconciliation, anti-replay attack, orphan processing, cold and hot separation for better crypto storage.
- Digital Asset Mortgages Financing: GoldBox solution will recognize the need for credible asset-backed credit by providing the crypto investors, and miners with access to cash loans based on their crypto holdings.
- Digital Asset Value Management: GoldBox will also create digital asset management for the application of digital asset risk supervision and evasion measures. The system will include settlement mechanisms, investment research, trading system, and performance monitoring.
- Global daily mobile payment: The GoldBox application supports a payment solution where users can utilize the platform's native token and other digital currencies for payments. The payment service also explores using the GoldBox debit cards for shopping terminals or online payments with merchants.
The GOX Tokens
GoldBox's economic model lies in the use of the GoldBox tokens (GOX) within the system. The token goes into extracting virtual digital records and represent them in digital asset form. GOX token holders also get functional attributes, incentives, and equity attributes.
How Goldbox's Digital Asset Service Could Empower Users
GoldBox’s solution could have the following positive implications.
- Maximization of the user's digital assets' values.
- Provision of cash loans for cryptocurrency investors.
- Responsible digital asset investing with the GoldBox asset management protocol ensuring risk control
- Creation of a new financial ecosystem to inform, educate and provide financial services to users across the globe.
- There is convenience regarding mobile crypto payments for daily use.
- Breakdown of barriers for individuals or crypto-based enterprises seeking financing
The GoldBox project is having a lot of promises with its blockchain digital assets ecosystem although there is little to show for their endeavors. As a new entrant to blockchain world, the venture is providing the ultimate global investment platform. However, the GoldBox project seems like a poorly executed ICO with plenty of red-flags like lack of tangible information making it less than an appealing venture for those looking to invest.
GOX token sale
- Start- 1 July, 2018
- End- 31 July, 2018
- Ticker- GOX
- Platform- Ethereum
- Type- Utility token
- Accepts- ETH, BTC
- Supply- 200,000,000 GOX
- Amount for sale- 40,000,000 GOX
- Hard cap- $8,000,000
- Soft cap- $5,000,000
- Restrictions- China
- KYC- YES
- Locking (Ecological construction rewards) – 50%
- Crowdfunding- 20%
- Fund- 10%
- Team- 15%