The existence of blockchain technology opens the door to a set of innovative solutions that never existed before. Blockchain technology is a structure that stores transactional records, also known as the block, of the public in several databases, known as the “chain” in a network connected through peer-to-peer nodes. Typically, this storage is referred to as a ‘digital ledger.’, meaning that once something is in the blockchain, cannot be removed or altered.
SafeGem’s vision is to conceive a brand-new use case exploiting the unique benefits the blockchain can offer by creating an exclusive platform that will authenticate precious stones by providing NFT digital certification for gems.
Innovations of the Contract
Besides its unique use-case, SafeGem welcomes state-of-the-art technology, by including never-seen-before qualities in the smart contract called tokenomics. SafeGem’s native token, $GEMS, is a high yield generating, hyper-deflationary protocol. 6% of every transaction completed on the platform is re-distributed to all users holding $GEMS in their wallets generating a considerable passive income, and 5% of each transaction is permanently erased from the blockchain. This type of burning technology differentiates itself from other smart contracts where the burning process will not remove the tokens from the blockchain but sends them to a separate wallet, called a dead wallet. The deflationary connotation given to the platform ensures a gradual decrease in supply and increase in value. The passive income combined with the continuous burn will benefit the long-term token holders the most.
Revolutionizing the Jewelry Industry
Currently, a precious stone is associated with a paper authenticity certificate. An NFT digital authentication certificate can never be copied, altered, or modified, and there will be no need to be deposited in a safe because it can never be lost. The blockchain is the one safe place where one can know, once something is there, it cannot be taken back. Being able to store the authentication certificates in the blockchain gives that peace of mind to the buyer that never existed before. Paper certificates are not safe enough and SafeGem holds the key to revolutionize this aspect.
SafeGem is working on developing a far-reaching partner channel throughout the world that produces and/or deals with jewelry and precious stones and is strategically acquiring partners that show interest in joining the innovative world of NFTs, a trend that has been blowing up the crypto world since their introduction in 2015.
SafeGem’s rich product ecosystem is built to reflect the project’s conception and core values.
The SafeGem Mobile Application‘s purpose is two-fold. It will serve as a mobile wallet for cryptocurrencies, and will also contain a crypto academy educating people on the crypto world.
The NFT Partner Portal will enable partners to mint their own custom-made NFTs (outlined in the partnership contract) with a series of indicators specific to the authentication process of the precious stones they produce/market. This provides our partners and their customers with an easy to keep and highly-secure authentication process of their products.
The NFT charity marketplace will enable artists to upload various NFTs created for sale or bidding. Depending on the artist’s specifications when uploading an NFT, all or part of the income from the sale of such NFTS will be used to support families that have been negatively impacted by the blood diamond fields.
$GEMS – SafeGem’s Native Token
Together with the release of the NFT partner portal and marketplace, $GEMS will be transformed to the utility token of such platforms. Similar to other NFT launchpads, one will need to have $GEMS to be able to navigate (upload, vote, bid, purchase) on the NFT marketplace.
The Advisory Program
SafeGem is currently conducting an advisory program and working together with Jewelry Industry participants in perfecting their use case and business strategy that will fill the gap between bleeding edge technology and a $300B industry. Jewelry Industry participants can join their advisory program by sending them an email to [email protected]
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