A silver-backed cryptocurrency is created in Durango.
Sion Gold will unveil the cryptocurrency on 11 February in Washington. It is expected to begin global circulation in June.
The company Sion Gold created the first silver-backed cryptocurrency, a project that has taken more than $1.5 million of investment and will be presented on 11 February in Washington.
Real Silver Coin is the only cryptocurrency based on silver from the mines in Durango and Sinaloa, Rosa Isela de la Rocha Nevárez, the firm's president and a former miner, said in an interview.
The cryptocurrency is based on projects of small-scale miners and 'gambusinos' in the states of Durango and Sinaloa. It is the only currency of its kind in the world that has the characteristic of being based on a metal.
He explained that the cryptocurrency is based on blockchain technology, which is unhackable, immutable and works through the certification of every movement between more than 100 computers worldwide, therefore, the system never crashes and no transaction can be validated until it is duly verified by the entire system.
De la Rocha mentioned that this is an innovative silver savings system, where the money will never be affected by inflationary issues and will be backed by mining activity.
"It is a safe saving, it is something that is always on the rise and we believe that in a few years physical money will no longer exist, but only cryptocurrency will be used," said the former local deputy.
The promotion team comprising Dionisio Torres García of Alma Campesina mining company, Elba Amalia Tinoco Name, director of Sierra Madre Silver, and Alfredo Márquez Luján, director of Conacyt, will travel to Washington on 11 February to present the first 2 million tokens.
It is expected to go into circulation in June, after testing and with the necessary global legal requirements in place.
It has been calculated that this economic model will have a favourable impact on 15 Durango mining companies and the benefits will reach Sinaloa and Zacatecas.
For more information see: ElFinanciero.com