INTRODUCTION
Cryptocurrency is kind of like “Orange is the new Black” in the online market. It all started with Satoshi Nakamoto, who invented Bitcoin in 2009 and boom after 8 years it has been accepted as a payment option by so many including giants like Microsoft, Dell. There are so many cryptocurrencies that have been invented over the course for different purposes. According to Wikipedia, 900+ different Cryptocurrencies are there in the market. Sand Coin is the newbie that has joined the list of cryptocurrencies.
SAND COIN — WHO ARE THEY AND HOW THEY WORK?
Sand Coin is the latest cryptocurrency that has been developed by Russians using the Blockchain technology.They have now developed a currency. Now they have to make people use it. What will they do? At this time, the people in Moscow were suffering from traffic and the government has been planning to build roads. Also, they were planning to remove the old residential buildings and build new one. These guys saw an opportunity in there.
They targeted the Sand Quarry business in Moscow. They have 109 hectares of land, 60km away from Moscow. Since, the quarry is comparatively nearer to the city constructions, it will be easy to transport materials to the construction site. So, they have to setup a Sand Quarry in there and raise funds by selling the Sand Coin for low price and then buy back those cryptocurrencies after a few years thus, providing a profit for the buyers. This makes the Sand Coin enter into the cryptocurrency market and also helps them to setup a business. They have hit two mangoes in one shot.
Their main aim is to make all other non-metallic material quarries to use Sand Coin and make them as the official currency for quarries in Russia.
IMPLEMENTATION
Everything looks good on paper. But how are they going to implement it and what plan they have it in there?
- Pre-ICO (Jul-Aug 2017):
Buyers can buy 1 cryptocurrency coin for 0.95$ up to 230,000 cubic meters of sand. (1 cubic meter sand= 1 Sand Coin) - ICO (Sep-Oct 2017):
At this time, buyers can buy 1 cryptocurrency coin for 1.25$-1.35$ up to 3,170,000 cubic meters of sand.
By this time, they would reach their initial funding needed for Sand Quarry to operate. Then, they have planned to setup the quarry and the Sand Coin buyback starts from July 2018.
In Russia, 1 cubic meter of sand is 5.30$. Thus, they are selling 5.30$ worth of material for just 1.35$. They expect the entry of the Sand Coin in the cryptocurrency market will have some increase in their value before the buyback in July 2018.
FUTURE PLAN:
This is a unique project and their plan is to continue with their quarries for the next few years and also enabling a buyback of 50% of the Sand Coins in the market from the buyers, thus providing them a good profit and also increasing the value of Sand Coin simultaneously. But making other non-metallic material quarries use Sand Coin is their ultimate goal.
For more details visit
To Know more Visit:
Website: https://en.sandcoin.io/
Whitepaper: https://en.sandcoin.io/SNDWPENupdate.pdf?1
Written By: Karan
Email id:karan.juriani
