We've travelled east, to Turkey, Istanbul to discuss and arrange two separate matters regarding Xaurum. The first is the gold store, the second is the safe-keeping of the Xaurum gold reserves and the protocol to handle them.
The first matter concerns the gold store. Auresco Institute and Aragorn ltd. will partner for this project and have received Nadir's exclusive representation for the Slovenian market, meaning that we'll be able to provide our customers with the most competitive prices of gold. The gold store will also include a digital store, to sell gold globaly, and will be an important part of Aurum project, as it will donate some of its profits to the Xaurum CommonWealth and contribute to Xaurum's growth. We were very well received by Nadir, they have also shown us many of their different branches and even their manufacturing facility.
Grand Bazaar with Nadir stores.
1 kg goldbar sample
X-ray gun for determining the composition of gold.
The second matter is the storage of Xaurum gold. Nadir, Turkey's largest private gold refinery, that processes 125 tons of gold per year, currently stores most of Xaurum CommonWealth gold reserves, but this is a temporary solution, because Nadir can't legaly keep their customer's gold for longer periods of time.
In search of a long-term solution, we've met with the representatives of Loomis, an international company that provides efficient cash handling for central banks, large commercial banks, large retail chains, etc. but also smaller enterprises, to arrange the storage of Xaurum CommonWealth gold reserves, with full insurance. We've come to an agreement, however the contract is not yet signed, as we need to determine the details of the storage protocol first. The main issue to decide is, whether to proceed with a low cost solution, where Loomis would store gold in 1 kg bars, deliver them to Nadir to melt into 1g cards and ship them to us and Auresco ships to the users, or we'll store 1g cards and try to arrange for direct shipment to users. When we decide the best course of action, we'll sign the contract digitally. The added benefit of Loomis storage, will be the possibility to digitally access to the information about stored goods. This means we can make our Auresco account open, so all users can have direct access to directly verify the quantity of Xaurum CommonWealth gold reserves.
Gold industry building, with offices of the Turkish branch of Loomis.
Imagine a decentralized crypto asset backed with gold, where miners cooperate instead of compete, an asset where instead of evolving towards centralization, we're evolving towards decentralization, an asset whose creation preserves and increase value instead of destroying it. This is our goal, and we're working hard to achieve it.
http://nadirmetal.com.tr/en/home/http://www.loomis.com/en/