Over the last 14 years, members of the team, foremost the founder Edward Meijers have worked not only on developing the concept but have proven and executed all the processes in the field so that a complete value chain is now available and is integrated in the value proposition.
We set our goal to create the first real securitized Token of its kind in the world. By using SourceLess, one of the best blockchains on the market and our expertise in the mining industry together with external geologists and the NI43-101 standard, we made the impossible possible. Securitized token means a token which is backed by a verifiable and documented resource and the investment in the Token is possible through a security (ISIN).
Our approach of focusing on in-ground values is suitable for any country in the world. We already have contracts in place for natural resource Areas in Africa, Latin America as well as in Europe. Through our approach of only exploiting what is necessary and leaving the other resources untouched we are attracting assets in other countries which will create an even bigger diversification of the risk by adding their resources behind the QAAA.
The whitepaper explains all the details about the QAAA that are important to know. It is a full description of what it stands for and what is to be expected.
It discusses the tokens minted, the tokens that will be distributed, what we will do with the raised funds, the future of the token etc etc. Be informed and read it.
We have made an effort to make the whitepaper sort, to the point and clear.
Present day, Commodities such as Gold are clearly defined by its form and purity. This is important because any bar of Gold having a purity of 24-carats, which is equal to 99.9% purity, is exchangeable for any other Bar of Gold with the same purity making it fungible and tradeable. Any other form of Gold is not traded on the international markets.
Let us assume that 24 Carat Gold is 100% of value as defined by the London Metal Exchange (LME). Any underling value of Gold will be some amount less than LME. Now we need to define what this difference will be. The difference is the cost of exploration and production of the Gold itself (in ground value). If the cost is higher than the LME then the resource is of low value but still can be seen as a future opportunity. If the Cost is substantially lower than the LME value then the resource has a high value.
This value calculation has been used for decades by the professional mining industry and its methods are well recognized and established. It can be said it is the toolbox so far limited to a professional industry. For this there is a clearly defined market, the professional mining industry.
The evaluation of each resource (AREA) is very specific and can differ widely, but the reference value used to determine its profitability is always the same. Therefore, once a resource has been explored, its value only depends on the LME value.
There are a few other influencing factors that must be accounted for, but interestingly enough, these factors also have the same effect on the LME value and have the tendency to auto balance themselves. The main factors are energy, labor costs, inflation and the credit rating of the country.
Because the influencing factors are all measurable and independent of the actual resource it is actually a simple accounting process to establish its value on a daily base. If this information can be accounted for in an automated process which is clearly documented we have a fungible and tradable product.
THE PROJECT'S MISSION
Our objective is to facilitate the largest transition of wealth in the history of mankind. We aim to unlock access to wealth on a large scale using a method that has never been used before. We believe wealth is not only a matter of monetary values, but also happiness, health, livelihood, and creating opportunities. To do so, we chose to add real asset values to the monetary market. The huge amount of capital that should become available can be used to create opportunities for those in difficult circumstances through sustainable social projects within the scope of ESG.
We are here to give people access to the most precious resources of all time, without the negative impact of extracting them from the ground. By leaving the resources untapped, using blockchain technology, we can offer everybody the chance to be part of an initiative that aims for both environmental protection and sustainable revenues. In the areas that have been developed many activities can be launched to create jobs, produce food and products that will substantially improve the standard of living of the people in these areas.
The Big Picture
The world we live in today comes with serious challenges for equality. Though human rights have played a significant role in the past decades, there are still people who die of hunger across the globe, people who risk their lives and health to provide basic needs for their families, and children who go to bed hungry every night. At the same time, tons of food are thrown away every year because of poor management caused by the fact that we don’t fully understand the impact of our day-to-day actions. Furthermore, resource rich countries, especially poorer countries, till today do not really profit from the inground resources. This is where Qommodity can facilitate the biggest transition of wealth in the history of mankind and contribute to balancing the scales with its unique approach.
The solution of monetizing inground values of resources, putting that on the blockchain combined with a token that is then given an ISIN, is the link between the old and the new financial systems as we know them, opening new opportunities for all those taking part in the project. This revolutionary approach has never been used before, as there isn't a single entity in the world to facilitate access to financial products in the same manner. This new financial tool will allow transfers of commodities between peers with no boundaries or intermediaries, meaning that there will be fewer costs, no centralization and long-term benefits.