One of the fundamental aspects of human nature is to build and construct. Individual human beings and larger civilizations have toiled, struggled, and worked to develop their societies, cities, and countries around them. One of the most basic forms of infrastructure today are houses and roads, both of which rely heavily on gravel.
The team behind the upcoming Gravel Coin are experienced professionals in the mining sector who understand the importance of gravel for civil construction, roads, railways and shelter.
They hope Gravel Coin becomes the first of many cryptocurrencies for the mining industry, and that the coin itself can raise money to invest in global gravel production.
According to the coin’s whitepaper, the entire project started with an invitation letter from the Government of Guinea to Gravel Coin CEO Paulo Carneiro. The team has already identified market opportunities in Guinea, Brazil and potentially Bolivia, all places with high demand for gravel to be used for construction projects and the repairing of roads, dams and railways.
A lot of companies in these nations are facing shortage in gravel supply from existing producing sites because they don’t have enough on their hands including for the production of concrete and asphalt. The intention behind Gravel Coin is to help companies in these initial target nations with their activities, and then hopefully expand to other places while exploring other mining opportunities (zinc, copper, iron ore, etc).
The whitepaper lists several projects in Brazil that are going to require large amount of gravel. This includes bridge construction between the islands of Salvador and Itaparica, the FIOL railway, and the Porto Sul. It also notes a great gravel demand in Guinea for the expansion of the housing sector and for the large number of roads in the country that need resurfacing.
The project will be managed by local companies in Brazil and Guinea, whilst will be under the watchful eye of a new holding company being also part of the plan to manage the operational entities of the project. Gravel Coin itself will be implemented and managed by the Ethereum platform.
The team says the project will help deliver better transport conditions, foster the “improvement of living standards, the generation of jobs, the environmental protection through rational and technical mining methods, a better economy, among others.”
The whitepaper notes the outstanding opportunity created by the “qualified team, mineral reserves, large demand, and investment.”
Starting in December 2017, the coin’s Pre-ICO is slated to begin. It will occur in four blocks that have different discount rates. The first block will be offered for US$ 0.05 with 10,000,000 tokens emitted in the blockchain. There’s also a 50% discount for US$ 500,000.
The next three blocks in the Pre-ICO will have 5,000,000 tokens each. Prices will be set at US$ 0.07. US$ 0.08, and US$ 0.09 (respectively).
The coin’s ICO is currently scheduled for January 2018. The current total planned amount is US$ 7,200,000, with a minimum milestone setup of US 2.0 million. Those looking to get in on Gravel Coin’s ICO can buy a block-chain option of 55,000,000 tokens. One Gravel Coin will equal US$ 0.10 at this point.
There’s also a couple of conditions assorted with Gravel Coin. These include the possibility of tokens turning into equity if the company goes public, and the right for participants to get 5% off the next coins sold in later ICO campaigns by the same issuer.
The coin’s whitepaper notes the intention to distribute the planned US$ 7,200,000 across several areas. This includes US$ 5,250,000 for investments, US$ 367,247 for mine development, and US$ 196,520 for holding & prospectus.
After the ICO in mid-January, the team will then register the new company in Guinea and begin to select stone deposits and conduct other assessments. Mining site development will start in February along with infrastructure building and the importation of necessary machinery and equipment. After import, everything will be tested and then will start up.
Over the next several months, gravel production will expand and work will cross over into other mineral opportunities. However, the mining plan is a dynamic document and could change based on new information about the mines and from the results of geological surveys.
Is Gravel Coin Economically Smart?
The team behind Gravel Coin says they have carefully studied the geology at all the proposed mining sites and says they are good areas to set up equipment to extract and crush stone. In addition, they write the company is already supported by the government of Guinea and there’s a similar situation in Brazil.
They also note the potential for the team to expand operations into other parts of the world and into things like precious metals, talc, zinc, natural stones and other Rare Earth Elements as justification the project will ultimately be successful with mining sites already identified and ready to start.
There’s also supposed to be an environmental plan that will draw upon existing legislation to mitigate any sort of problems. Additionally, the whitepaper says there is a plan to retain some money on each unit of gravel sold to help mine employees and local communities raise their standard of living and help create new jobs in each country the project is involved in.
What’s the Team Behind Gravel Coin Like?
The management team is composed of a variety of professionals in the mining, machinery, and engineering industries.
CEO Paulo Carnerio is an experienced Brazilian mining entrepreneur who has stone and gold mining experience in Brazil and Ghana. He’s also a director at tokenUP Digital Cryptomarketing Agency and a chartered accountant with specializations in managerial accounting and investment management.
CTO Martin Janda has spent over twenty years in the software development field. He’s worked with companies like Deutsche Bank Commerzbank, and Allianz Insurance. Janda has a focus on Distributed Ledger technology in addition to expertise in Java, C++ and IT Security.
Other members of the team include experienced electrotechnicians, and geologists with specializations in mineral prospecting, resource exploration and geological surveys.
The team’s advisory board includes professionals in the IT, banking, and blockchain advisory industries. Advisory board member Martin Glettler said he supports Gravel Coin due to its “sophisticated business model, which can offer high yield returns.”
Gravel Coin’s website can be found at gravelcoin.com. The whitepaper can be found on GitHub.