WORBLI, a blockchain infrastructure for an efficient, honest, and accessible financial system [Token: WBI] has signed a deal with TokenOro to tokenize their gold mining operations operated by a veteran team of business and mining professionals with several mines around the world. WORBLI is pleased to bring the first legitimate gold-backed security token to market.
For companies like TokenOro, WORBLI powers the ability to expand the base of potential stakeholders enabling a more cost-effective and wide-reaching fundraising campaign.
Domenic Thomas, CEO of WORBLI
“WORBLI is dedicated to empowering businesses and users. TokenOro is one of many innovative blockchain projects WORBLI is working with to bring new opportunities to everyone,” Domenic Thomas, CEO of WORBLI said. “Individuals are often limited to products like internet stock trading, mutual funds, and employer-issued retirement accounts. WORBLI is engaging businesses to bring a wider range of financial opportunities to users.”
Tokenizing gold-based securities provides an immutable ledger of all tokens sales enabling the distribution of the securities via smart contracts. This simplifies the process considerably. These processes can be automated in the future via custom software being created by the WORBLI foundation and its partners. This security token offering will only be available to accredited investors in the early stages, but TokenOro has begun the regulatory processes to open it up to individual investors globally in the future. WORBLI supports the drive TokenOro has to create better opportunities for people around the world.
This first pass at tokenizing such a project will lay the groundwork for future projects to do the same while saving time and money.
TokenOro CEO Jim Mckenzie has over 50 years as a global executive with 22 years in the precious metals and mining industries and is the Chairman of Alamako International and CEO of Golden Rule Mining.
“Having TokenOro on WORBLI is a perfect fit. Between development and marketing, the resources WORBLI brings to the table are tremendous. With WORBLI’s help, TokenOro is providing access to a token that will fundamentally disrupt an industry in a positive way,” McKenzie said.
The business development team at WORBLI is selecting the best enterprise-level applications to build out its ecosystem of fintech applications. WORBLI expects dozens of applications to launch in 2019. In addition to TokenOro, several applications are to launch on WORBLI in the coming months including an innovative trading platform, a decentralized risk transfer application built for the insurance industry and digital asset to fiat currency conversion as a key account feature.
WORBLI is developing relationships with businesses who are building the next generation of banking and payment applications. These applications will enable a new era where transactions in and out of cryptocurrencies are simple, fast, and affordable.