WTIA signed a contract with the Mining Corporation in the Democratic Republic of the Congo for issuing G.C.C.1 blockchain coin
WTIA PTE LTD, a Singapore subsidiary company of WTIA announced on August 22nd, 2019 that it had signed a contract for the G.C.C.1 blockchain coin issuance with the SANDOA SARL, a major mining company in the Democratic Republic of the Congo.
[From left corner at the bottom] WTIA Chairman, Keun Young Kim, SANDOA SARL Co. CEO Banza Nkasa Cecile Banza Cecile, D’Ledgers Consultants President, Choy Yui Kay. [From left corner at the top] WTIA Middle East, Europe Managing Director Rohan Britto, SANDOA SARL Representative & Business Consultant, Lutete, Vision Group President, Hui Jie
Singapore – According to the company, this is the actual legally binding agreement to follow up on MOU signed on July 9, which is for issuing a Security Token Offering (STO) coin named "G.C.C.1" to raise funds for developing mines and trading gold produced.
Subsequently, G.C.C.1 coins which will be issued its supply capped at 2 billion (raised fund comes to more than $ 120 billion USD) and have opted to be linked to the RXR of the main coin of WTIA. The coin will be issued at the end of October in 2019. It will be developing the 16㎢ gold mines and prospecting sites (22 tons) first, it is estimated that the total gold prospecting 142㎢ (195 tons).
According to WTIA officials, "Considering the current gold price per Kilogram to $45,000, it is just issued as STO coin by raising 10% of the total project value of $ 1 billion USD“. The G.C.C.1 coin will be traded on WTIA's blockchain-based resource trading platform, and the biggest advantage is that gold produced through the G.C.C.1 coin will continue to be deposited at secure banks without being sold after smelting by gold refining plants in Korea.
Keun Young Kim, chairman of the WTIA, insists that these security token offering project based on mineral resources will create new smart jobs and develop infrastructure for the local community, which will also have a positive impact on the next generation. It also has a future development plan for Cobalt and Copper, its Co-Products and By-Products in SOCIÉTÉ MINIÈRE DE SANDOA SARL collaborates on major mining project in Lualaba.
The New Smart Job Creation is in line with WTIA's global social contribution campaign project for Improving the quality of life of local people, WTIA said.
About WTIA - www.wtia.io
WTIA is a Worldwide Alliance of some of the best projects and use cases powered by blockchain, backed by international investors, stakeholders and advisors with having worldwide business network and being engaged in a lot of valuable projects in accordance with the principles of mutual benefit.
About SOCIÉTÉ MINIÈRE DE SANDOA SARL
SOCIÉTÉ MINIÈRE DE SANDOA SARL, SOMISA is a mining company established since 2014. The company main activity is in gold extraction and treatment. The company has 142km2 in the Lualaba province where it is one of the richest mining areas in the Democratic Republic of the Congo.
About Vision Group - www.visiongroup.co
VisionTech is a leading Technology Company providing Innovation-As-A-Service (IAAS) solutions to our clients. We are focused on driving adoption of Blockchain, AI and Cybersecurity to governments, enterprises and the masses by making it better, faster and easier. Our core sectors of focus are in Commerce, Finance and eGovernment. VisionTech is a subsidiary of VisionGroup, a humanity plus company that believes in using technology for the betterment of the human race.