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Future currency backed up by minerals but preserving nature
Today, we base the value of fiat currency on the trust we give it.
Lapland Minerals Corp has created a new token (LMGT), something new and, at the same time, something old. Gold defines its value, just like the USD used to stand before 1971 when Nixon detached it from the gold standard. LMGT is a token intended to be used as a currency worldwide. Its value is pegged towards 0,1-gram of gold, meaning the value of 1 LMGT is the same as the market value of 0,1-gram of gold. When the market value of gold goes up, so does the value of LMGT and wise versa.
Compared to the old gold standard model, where gold was stored in vaults, LMGTs are backed up by gold still in the ground, protected by nature. The practical difference between the old-fashioned gold standard and this new model where the gold remains in the soil is none. In both cases, the value is based on the same principles, meaning the trust of the users, people, us.
We understand that there are a lot of places where gold is needed, and for those purposes, mining the gold is ok. There are a lot of applications in which gold is not required. Like storing it in vaults, to serve no purpose at all, but merely laying there for viewing. In every case, mining gold is terrible for the environment, which we think we should avoid for as long as possible. So we are here to build a better future by preserving nature, not destroying it.
The other motivator for creating LMGT has been to build a currency that would not be related to any country. In other words, the money for all humankind. We already have technology that allows this to be a reality in today's world. It is what's called a blockchain. So there is no need for governments to back or verify things in a fully transparent and immutable blockchain. The Lapland Minerals gold token lives on Binance Smart Chain as BEP-20 tokens. BSC is an extension of the Ethereum ERC-20 standard that is extremely expensive with current gas fees. The nature of the BEP-20 standard is that it will be compatible with any DEX in the future and the goal for Lapland Minerals is to list the LMGT for public trading by the end of 2023.
Lapland Minerals Corp