Precious metals mining is a $680 Billion industry with no current means to reliably and responsibly track its products…. Until now.
The mining industry needs help, with increasing issues surrounding compliance and traceability, environmental standards and child labour the industry is in great need for rapid transformation. Furthermore, it has the financial means to implement this necessary change, with over one hundred billion US dollars of gold mined and 64 trillion in gold traded each year.
Karuschain is the solution with its private blockchain technology platform for the precious metals mining industry. With a dedicated team of experts having over 270 years of combined experience in both the precious metals mining and blockchain fields, Karuschain provides a powerful tool to safeguard human rights, reduce risks and improve environmental regulations in their supply chain.
What is Karuschain and Why You Should Care
Karuschain is in the business of helping industry-leading miners. By tracing and tracking ethically sourced goods, automating compliance & providing data integrity to auditing operations, Karuschain can provide a single source of truth for the good-guys who then meet consumer demands for ‘green’ and ethically sourced precious minerals. Over time, this forces a change in the behaviour of participants who’s governance, risk and compliance controls are lacking or not as robust, bringing positive change to the industry.
This makes Karuschain’s KRS token value & network economy dependent on the exchange volume of ethically sourced minerals and related compliance burden, rather than on the value of the mineral themselves.
Thanks to the data validation and security inherent in Karuschain’s revolutionary distributed ledger technology, product integrity can now be tracked, traced and transparent in all levels and stages of the mineral supply chain, from source to sale.
As a single source of truth for an entire industry supply chain, Karuschain meets the global mining industry at the place of its biggest pain point – compliance.
Compliance is a multi-billion-dollar global expense for the industry, to which Karuschain provides the most optimal solution rooted in trust, innovation, leadership and scalability.
Starting with established industry connections, Karuschain invites different stakeholders in the mining industry’s supply chain to join the platform and to create a sustainable, stable, long-term and widely distributed ecosystem.
The social and government pressures facing the mining industry for ethically mined minerals is not going away. That means Karuschain represents the most industry oriented, unique and cutting-edge, multifaceted solution for the whole mining industry.
Doing it Right, Right From The Start
The germination for the idea for Karuschain was planted in 2008 during the great recession when our founder observed that many investors who bought into unallocated metals or paper metals experienced huge losses. Gold, silver bars and coins unbeknownst to investors had been hypothecated, traded or lent and therefore those who thought they were a sole owner discovered their investments were held by multiple owners leading to a painful loss.
The identification of this key pain point within the precious metals industry lead the team behind Karuschain to look at all the points in the supply chain where the source or ownership of precious metals must be tracked to solve pressing investor, environmental, and industry compliance issues.
Inspired to solve these critical issues facing the mining industry, Richard Verkley, CEO of Karuschain assembled a group of incredible industry professionals; former CFOs, major mining and concession operators, engineers and some of the brightest blockchain system architects.
With their expertise we developed a blockchain solution for the metals and mining industry that will track gold and other precious metals from provenance all the way through the supply chain, from the mining to refiners, and to the trading process of precious metals, through buyers and brokers until it reaches the consumer.
Our Team: Striking The Right Balance of Dedication, Experience & Innovation
Since 2017, Karuschain has been working on developing a new blockchain platform to be the internal source of truth for the entire precious metals and mining industry. A significant factor in the success of such a grand vision comes from building-out a dedicated, experienced, and innovative team.
With over 270 years of combined experience in the global precious metals industries spread-out throughout our team, Karuschain’s foundation is one deeply grounded in the needs of the industry. From mining expertise to blockchain development to legal and crypto advisors we have it covered. In fact, our team has already successfully developed and implemented blockchain technology for tier 1 Swiss banks. Beta users are welcome, and you can sign up here today.
Using The Right Technology for The Right Purpose
The Karuschain platform uses the Hyperledger software family, our implementation of sophisticated smart contracts (chaincode), and the management of key data flows from legacy systems and innovative hardware throughout the precious metals supply chain.
Karuschain technology utilizes the Ethereum blockchain to secure its KRS token and the Hyperledger fabric protocol to implement private blockchain systems for enterprise. This ensures the secure management, tracing, and tracking of critical data throughout the precious metals supply chain.
Our enterprise software is modular by design, ensuring versatility that works seamlessly with a broad range of existing industry technologies and use cases enabling the deployment to be customizable, scalable and interoperable. We can meet the industry where it is.
The Benefits of Linking the KRS Token to Mining Compliance
The mining industry is plagued with issues regarding human rights abuses, environmental issues and increasing regulation on a country by country basis, which is an increasingly complicated problem for any industry operating on a global level.
As global/consumer pressure grows to increase mining compliance and regulations, so do increases to the rejections for license to operate mining permits, and hence, more corrupt and abusive mining sites attempt to meet this demand and flood the precious metals industry with illicit, illegal goods.
Thanks to the adoption of blockchain based systems and integration with legacy mining systems, Karuschain is poised to lead the industry into a whole new realm of ethical, transparent collaboration/operation to eliminate most of the bad actors in the mining market.
Karuschain’s blockchain supply chain solution is founded on the basis of a closed market utility network, where those who participate in the market are the ones who have access to the market’s fee settlement mechanism: KRS tokens.
The industry adoption of the Karuschain platform will lead to substantial efficiency gains across the entire supply chain. Meaning that Karuschain participants/KRS holders can out-compete traditional market costs for: auditing, compliance, inventory, and standard transaction fees. Leading to a substantial competitive advantage and platform utility for the industry and token holders.
Partnerships and Evidence of Doing it Right
MineRP, a global mining technology service company, with over two-hundred employees and five offices on four continents, and existing partnerships with SAP, Deloitte, IBM and GE, has been closely working behind the scenes with Karuschain’s executive and technical team to collaborate on an integrated blockchain solution to meet the demands of their large customer base. The teams have now established proof of technology and continue working closely together.
Karuschain signed a landmark mining consulting agreement with Jim Porter Mining Consulting Pty LTD – JPMC International South Africa. Following closely after the deal signed with MineRP, this will further deepen Karuschain’s access to market intelligence and the major players in the mining industry.
Karuschain also recently acquired Herbert R. Sim, commonly known as “The Bitcoin Man” as an investor & advisor. His years of experience in the blockchain and cryptocurrency industry will prove invaluable to Karuschain’s global ambitions and help bring focus and a gateway to Asia, the world’s largest gold market, creating tremendous value for both the company and investors alike.
There are only two ways you can buy Karuschain’s KRS tokens.
Want to get in early and access amazing discounts? You can purchase directly through our private sale. Hurry Sale Ends on the 13th of January 2020!
Follow these steps to find out how:
- Sign up on the Karuschain website and follow the KYC procedure.
- Further details will be provided to qualified and approved purchasers.
Want to purchase via an exchange? No problem!
The IEO for Karuschain’s KRS Token will officially kick off on January 14th, 2020 on LA Token.
Don’t miss out on our latest news and join our newsletter.
Karuschain is a blockchain technology platform for the precious metals mining industry, giving mining companies a powerful tool to safeguard human rights, reduce risks and improve environmental regulations in their supply chain.
Follow Karuschain on our social networks!