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I-ON’s business model will allow claim holders to monetize in situ gold (in-ground or unrefined gold) by converting their fully validated gold claims into secure and efficient gold-backed securities, offering liquidity without extracting, mining, or smelting the gold. The team at I-ON pioneered this model several years back by achieving groundbreaking advances in the institutional acceptance of asset-backed digital securities by establishing a global custody interface and creating standards for independent financial and transactional reporting backed by expert legal opinion. Their efforts helped launch the then-nascent asset digitization marketplace while addressing the relative needs of investors, institutional partners, and regulators alike.
To build on these accomplishments, I-ON turned to Instruxi to craft a technical approach to digitizing gold reserves by tokenizing them, utilizing state-of-the-art blockchain and Smart Contract technology, then converting them into digital securities that enable institutional investors to buy fractionalized ownership of gold claims, at the "proven reserves" level, through ERC20 tokens.
"Five years ago, we set out to change the gold and precious metals marketplace by creating a regulatory-compliant digital asset ecosystem that would allow gold claim holders to monetize unrefined but proven Gold Reserves," shared I-ON CEO
This resulting gold tokenization process represents a groundbreaking innovation in the traditional gold and precious metals marketplace, enabling claim holders to unlock the value of their proven reserves while minimizing the environmental impact and cost of conventional forms of gold mining, including strip mining and other forms of extraction. I-ON's partnership with Instruxi showcases the power and potential of integrating best-in-class emerging DeFi technologies to drive meaningful commercial change in the precious metals and commodities industry.
"To enable I-ON's vision, we needed to create a secure, robust, and hyper-scalable infrastructure that could support asset digitization and tokenization so we could fractionalize the ownership of gold and other assets." explains Instruxi CTO
Through its development partnership with Instruxi, I-ON is pioneering the future of asset-backed securities and the trading and hypothecation of fractionalized gold ownership and other emerging digitized asset classes. Their collaborative effort lays the foundation for a more accessible, trust-driven, and compliant financial ecosystem that could play an integral role in shaping the future of decentralized finance, tokenized assets, and digital securities. All while providing a more sustainable and environmentally friendly way to monetize precious metal reserves without damaging or destroying
More information about the Chainlink Spring 2023 Hackathon can be found at https://chain.link/hackathon. More details about I-ON and Instruxi's Hackathon submission can be found at https://devpost.com/software/instruxi.
About
Instruxi is a web 3.0 company focused on helping clients with hyper-scale data availability. Instruxi enables secure and universal data sharing, facilitating clients' analytics and AI projects and building apps and dApps. The Company has accomplished this through tokenizing data and our unique distributed data protocol, Proof of Policy. In addition, Instruxi offers a data mesh toolkit called Neutrino Mesh and builds validator infrastructure to support this offering on private blockchains. By deploying our solutions, enterprises can seamlessly connect web 2.0 and 3.0 technologies, enabling universal data access and participation in the emerging data economy. Additional information is available at https://instruxi.io.
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Forward-Looking Statements
This news release contains forward-looking statements involving risks and uncertainties, which may cause results to differ materially from the statements made. When used in this document, the words "may," "would," "could," "will," "intend," "look to," plan," "anticipate," "believe," "estimate," "expect," "seek," "potential," "outlook," and similar expressions are intended to identify forward-looking statements. Such statements, including, but not limited to, I-ON's current views with respect to future events and its financial forecasts, are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the statements made, including those risks described from time to time in filings made by I-ON with the
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IR@iondigitalcorp.com
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Copyright (c) 2023 TheNewswire - All rights reserved., source