Sudan Gold Coin AMA Recap
CryptoDiffer team
Hello, everyone!
We are glad to meet here
ELIJAH IFEANYI (@ElijahCMO), Co-Partner & CMO at Sudan Gold Coin
Let`s start from the first introduction question:
Q1: Can you introduce yourself to the community? What is your background and how did you join Sudan Gold Coin?
Elijah Ifeanyu
CMO
I am Elijah Ifeanyi CMO& Co-partner of sudangoldcoin current Vp inblocksolutions, founded coinnewsafrica at 20,
With a notable in Marketing and finance sector
Degree :, BSc com sci MSc data sci
My journey to SudanGoldCoin started two years ago when I had the chance to meetup with Mr Dimitry konoval current(CEO/Founder) with due diligence check the sudan Gold Coin project became more interesting to me as it offers something different from what’s on the market. We are building a company with fair distribution system of Gold
CryptoDiffer team
Q2: Can you briefly describe what is Sudan Gold Coin in 3-5 sentences? What technology stands behind Sudan Gold Coin and why it’s better than the existing one?
Elijah Ifeanyu
CMO
Sudan Gold Coin is a Gold mining company built on the Etheruem blockchain. It is simply the combination of gold/mineral mining by using blockchain for fair and transparent distribution of profits
Why $SGC
We have a very experienced and dedicated team who have invested time and money into bringing $SGC this far we are proud to say we have already started mining of Gold and can proof with sample
We did focus on the ground work with 95% done on the mining site and with our integrated card function we offer our users an easy way to spend their Gold wealth without limits
Pictures and videos I will share after this AMA section
CryptoDiffer team
Q3: What are the major milestones you have achieved so far?
Elijah Ifeanyu
CMO
We are proud to say our biggest success so far is our job done on commencing with the mining operations and acquiring all possible licenses to mine
Our project is in conjunction with the Sudan Government and we are fully backed by them
Cryptodiffer Community
What are the tokenomics & how is the token used?
Elijah Ifeanyu
CMO
We have carefully crafted a unique token model
How does the SGC token grow
1. The SGC token was originally issued as the digital equivalent of 0.004g of pure gold (with a market value of ~ US $ 0.1), with a total issue volume of 999,999,999 tokens.
2. On a quarterly basis, 30% of all gold mined by the project is evenly distributed between the tokens in circulation. For example, if 200,000,000 tokens are in circulation, and 5,000 kg of gold were mined during the first (accounting) quarter, then each token will “grow heavier” (add weight) by 0.0075 g (5,000,000 * 30% = 1,500,000; 1,500,000 / 200000000 = 0.0075), i.e. each token will become the equivalent of 0.0095 g of pure gold.
3. When exchanging tokens for gold, they are destroyed, thus reducing the total issue volume and increasing the mass fraction of gold in each token in the next quarterly distribution.
4. In addition to the increase in the mass of gold represented by the token, one should also take into account the several-year growth in the market price of gold.
Cryptodiffer Community
ChainX exchange seems korean exchange can Indo users participate in SGC Ieo?
What are the main advantages of the SGC project for IEO investors and why should we invest in SGC IEO?
Elijah Ifeanyu
CMO
ChainX is one of the top 3 fastest growing exchange from Korea
We have a list of blacklisted countries who cannot participate in our token sale because of legal restrictions
But luckily is not one of them, so yes you can participate
Investors have the chance to have real gold with the option of exchanges their tokens for physical Gold
Holders/investors on $SGC will have the opportunity to pertake in our quarterly distribution of profits
Cryptodiffer Community
SGC is entering a very crowded market, isn’t this just more of the same, another blockchain promising things that most people don’t understand or need at the moment?
Elijah Ifeanyu
CMO
We are not just promising unlike others
We’ve invested private funds and already commenced mining operations
Our team have wealth of experience in mining sector and blockchain, so we are well equipped to pull this through
Cryptodiffer Community
1) Does your services include selling and buying of physical gold?? Is it possible to swap my physical gold for SGC???
2) You plan to establish a gold mining factory. Why are you doing this?? What’s the importance of the gold mining factory to SGC?? Do you buy and sell physical golds too??
Elijah Ifeanyu
CMO
Vise versa
You can exchange $SGC for physical Gold which will be delivered to your address
We plan to build our own mining factory so we can proceed this raw Gold into finished products
Cryptodiffer Community
Quoting from your whitepaper “999999999 million tokens compatible with the standard ERC20, will be emitted on the Ethereum blockchain without the possibility of additional emission”. However, token supply is one of the major determinant factor of whether a token will appreciate or depreciate on the long run, and this leads to the following questions :
1. Does SGC has any plan to reduce token supply in other to achieve scarcity and higher token value? If yes, how do you aim achieving this? Will there be a kind of buy-back or token burn?
2. How do you maintain a transparent relationship with users while carrying out these processes?
Elijah Ifeanyu
CMO
75% of the total supply will be locked
Any $SGC used to exchange for physical Gold will be burned
For buyback we are working on a plan for that
We are fully transparent and the use of Etheruem blockchain means all transactions can be monitored
Cryptodiffer Community
Hello! Please describe your approach about legal support and regulatory compliance of the project. What is the situation regarding “legal action lodged in various jurisdictions” by swiss Netarc AG, against SGC? Thanks!
Elijah Ifeanyu
CMO
We are following due diligence to avoid any future sanctions
Licenses acquired from Sudan government and approval to mine
Crypto company registered and licensed in Estonia
Holding company which will be holding gold reserve in dubia
We are fully compliant and regulated and will continue to move in that directions
Cryptodiffer Community
Which key advantages does Sudan Gold Coin project have in term of price stability, credible, mobility, liquidity, tax exemptions and technology in gold mining tracking/managing?
As the introduction in SGC White Paper, one of SGC’s killer feature is the debit card associated with an account of user that allow users to pay payment by SGC-USD exchanging mechanism. So, i want to know if the card is available right now and how many SGC that users need to hold to receive card from your company?
Elijah Ifeanyu
CMO
For liquidity we are going to be listed on multiple exchanges after IEO, as for price stability we have weighted each $SGC to 0.004g ratio. Other aspects fully covered and put into consideration by our team
Card is not available but development is underway
Each user will have to submit a personal request to get it
Cryptodiffer Community
What is SudanGoldCoin vision and what’s your biggest challenges?
Elijah Ifeanyu
CMO
Our vision turned into mission is to create a decentralized gold/mineral trading platform
Making Real Gold accessible to all who believes and join our project
Setting up Gold factory has been the biggest concern for us but I can say that we are gaining interest from huge partners and P-investors which will make us achieve this quickly
Cryptodiffer Community
What is minimum amount we can purchase in ieo? When ieo will be live?
Elijah Ifeanyu
CMO
Minimum purchase on ChainX is 1 eth
Cryptodiffer Community
What effect does SGC token have on the Sudan Gold Coin ecosystem? Holding SGC , what benefits will users receive ?
Will Sudan Gold Coin be involved in any major blockchain events this year
Elijah Ifeanyu
CMO
Yes
We’ve planned meets up and roadshows
Holders of the $SGC will benefit from our quarterly distribution of profit from mining
$SGC Is important to our ecosystem as it proves to be the passage to a decentralize and global adoption without limits
Cryptodiffer Community
Could you please explain why gold should be backed by blockchain? Which types of benifits normal users will receive from SGC concept?
Could you talk about how someone can claim physical gold? What steps would I have to through to obtain physical gold?
Elijah Ifeanyu
CMO
Gold back coin on the blockchain
Steps to recieve physical Gold
1-swap $SGC for the equivalent weight of Gold
2- request for shipment of gold to you by filing in your address on our platform
3- get contacted from holding in dubia and recieve Gold directly
Cryptodiffer Community
Will the value of Sudan Gold Coin be influenced by the value of gold in the open market?
Elijah Ifeanyu
CMO
It is pegged to 0.004g of gold initially and this weight per gold to token ratio will increase as our mining grows
Yes it will
Cryptodiffer Community
Which types of real adoption Sudan Gold want’s to bring in cryptocurrency world?
Why should i invest in Ieo? What are your future plans?
Elijah Ifeanyu
CMO
We are already pushing for global adoption giving easy access to real gold and providing the cryptocurrency world with unique combination of Gold/mineral mining
Cryptodiffer Community
What are some killer features SGC is trying to bring to life with its new idea?
What makes SGC a utility coin rather than a security?
Elijah Ifeanyu
CMO
$SGC can be utilized in our project to link different aspect of $SGC ecosystem
We have created a debit card functionality making it easy for people to access their Gold wealth without limits, you can also receive real Gold bars by exchanging $SGC tokens for it
Cryptodiffer Community
Why does SudanGoldCoin use Ethereum Blockchain?
Is there any future plan to make SudanGoldCoin own chain?
Dmitriy Konoval
CEO
Its on first steps. in future we make International Minerals platform on own blockhain
Cryptodiffer Community
Could you please elaborate on what is the mission of SGC? What kind of problem/use cases is SGC looking to solve?
Dmitriy Konoval
CEO
The main Mission change mind of people about crypto projects. cause you know 99% is scam project…after one more scam. people stop trust in crypto anytime….so we want to show people real working project with real sector..because we work hardly 3 year for result and now we sure in safety of money investors
Cryptodiffer Community
SGC is one of the first projects, which combines blockchain technologies, a gold and precious metal-trading decentralized platform, and real production of gold with high transparency and fair distribution of profits. However, Mining is a dangerous profession with several occupational hazards such as coal dust inhalation, damage to hearing due to the noise in a mine and chemical hazards.
Q1. What about the place of mining operation, does Sudan Gold Coin put health and safety of the mining community into consideration?
Q2. Is this mining operation approved by the government of Sudan? What efforts are you making in ensuring that investment in mines is safe and protected?
Elijah Ifeanyu
CMO
We provide support for hospital/clean water development in Sudan in conjuction with our partnership
So yes we will be giving back to the Sudanese community
We are fully approved and regulated by the sudanese government
Our CEO also visited the Sudan prime minister on his last visit to Sudan
Cryptodiffer Community
Hello! Please describe your approach about legal support and regulatory compliance of the project. What is the situation regarding “legal action lodged in various jurisdictions” by swiss Netarc AG, against SGC? Thanks!
Dmitriy Konoval
CEO
You know what is Business. our world a lot of bad people….and i make big mistake 1 year ago invite one guy to become a partner..so he cheat me on 500k $ and stolen my domain… he try to scam project…but we resolve this and kick him out from project…about this you can find a lot of info in google its not a secret….and also its not real text….(I show before link for my last visit to Sudan.i meet with central bank…we discus future for Sudan in case for our project too…second (HELP Sudan with own cryptocurency) ( What you read its full bullshit… you can check history 2017 year from cash this domain and see all
Our projects have more then 10000 PROFS then another one project in crypto world….
about blockhain….also we have our system of control gold mining…and scale to know weight of Gold all time.
In future all investor can check how much kg company mined in 1qurter
using app or check on website in accounting system
and after this all…i dont stop project….because i need to show people real project its my goal…
Dmitriy Konoval
CEO
Sorry i need to go and my CMO too..i think we can finished . cause question have the same theme (if you want to know more. we are happy to give you answer on all your questions privately ) (you can join to our group and ask your question if you are really interesting in project)
Thank you for you time.for you question.
my pleasure after long time holding project (and working on real part of sector) now show interested in project from people…
Have a good day all
Cryptodiffer TEAM
Thank you @dmitriysudan @ElijahCMO for taking your time!!
Thank you everyone who participated!!
