Utilising blockchain technology as the system for the administration of electronic warehouse receipts creates the most secure, efficient, and convenient way to keep track of and trade warehouse receipts.
The Public Key of an Ethereum wallet functions as ID for holders and the Private Key functions as transaction validation system similar to a signature. The certificates cannot be forged and the blockchain is immutable. Certificates can be viewed together with the smart contract and information on an easily accessible public ledger (e.g. etherscan.io). Furthermore all transactions are recorded on this ledger with time stamps, making information on inventory or trading data easily obtained enabling traders to predict prices with better accuracy.
In addition users face high liquidity and flexibility by being in full control of their assets and having the choice between multiple online marketplaces such as our company own platform, popular exchanges and decentralised exchanges as well as the possibility in dealing in off-market deals with absolutely no intermediaries.
CU Coin MBX (CMX)
The Cu Coin is legally designed for each to be a negotiable warehouse receipt for 1 kg of Grade A (99.99% – 99.97%) Copper Cathodes. It resides on the ethereum blockchain as an ERC-20 token, compatible with wallets such as Metamask and MyEtherWallet.
Warehouse receipts are legally defined documents that provide proof of ownership for an underlying asset (e.g. Copper Cathodes) that is stored in a warehouse. Negotiable warehouse receipts allow for the transfer of ownership without having to deliver the physical asset. The receipt holder becomes the owner of the underlying assets.
Equivalents can be found in most commercial codes around the world. Cu Coin in particular is a warehouse receipt designed by definition of § 475 c Handelsgesetzbuch (German Commercial Code). This legal framework secures ownership of the underlying asset for Cu Coin holders.
We understand how important liquidity and the trading experience is for a large amount of our investors. That’s why BMC aims to launch its own online exchange by the end of the Initial Token Offering (Q2 2020) and will use a substantial amount of its revenues for its development and marketing and scaling to maximise trading volume in the shortest time possible.
As the Cu Coin (MBX) is not a security and is regulated under the commercial code, it will not face the usual challenges that most security tokens face during listing processes on third party exchanges. We expect active trading on decentralized exchange platforms and will permit listing on centralised exchanges until our own exchange is at scale.
- Cryptocurrency (ETH) supported natively
- Multiple available views including price chart, depth chart, order book and recent trades ticker
- Live order book displays buy and sell orders with live spread calculation
- Fast FIAT and Crypto deposits and withdrawals
- Six chart styles including line, bar, area, and candles
- Ability to set custom chart durations ranging from one minute to multiple years
- Ability to customise colour and style of bars, borders, wicks, price lines, backgrounds and grid
- Multiple scale styles including auto, percentage and logarithmic
- Ability to report block trade
- Integrated ability to save current chart view to keep or share with others
- 58 available indicators including linear regression curves, moving averages and oscillators
- Ability to draw custom trendlines, pitchforks and more that scale and move with chart
- 11 available trendline styles including rays, angles and arrows
- 18 available pitchfork styles including pitchforks, Gann Boxes, and fibonaccis
- 9 available brushes including ellipses, triangles and rectangles
- 12 available text box styles including flag marks, arrows and price labels
- 14 available pattern descriptors including cypher, ABCD and Elliott formations
- 9 available forecasting markers including bars, ghosts, spreads and areas
- 300+ available icons to mark up charts
- Custom area measurement tool to find duration, percentage change and price change
- Automatic calculation of fees included in order price
- Multiple custom user reports including trade activity, transaction activity and treasury activity
We aim to establish warehouses in every major physical market across the world as our operations expand. The Republic of Turkey, our initial location for warehousing, provides an ideal outlet to major markets:
(i) New and highly developed infrastructure (highways and railways) and low cost sea transportation.
(ii) Geographic location and short transportation routes (natural bridge between east-west and north-south).
(iii) Customs Union with EU and numerous other international trade agreements (FTAs with 21 Countries).
(iv) 0% customs duty on industrial metals and low storage and maintenance costs.
Holders of Cu Coin MBX can visit the facilities and access their copper on any business day immediately after the issuance of Cu Coin MBX to their Ethereum wallet! Alternatively holders can get in touch with us to organise the exchange and physical delivery to a desired destination anywhere in the world.
- Bulk purchase contract signed with supplier
- Seller issues a commercial invoice
- Commercial invoice gets cross-signed
- Seller issues 2% performance bond
- Buyer issues a Standby Letter of Credit MT/799
- Inspections at destination port
- Payment is released by Bank after successful inspection. This inspection involves;
- A. Inspection analysis report at loading port
- B. Product Passport
- C. Storage reservoir receipts
- D. Authorization to verify (ATV)
- E. Memorandum of Understanding (MOU)
- F. Supply commitment assurance letter
- G. Statement of availability of the product
- H. Certificate of Origin
- I. Commercial invoice
- J. Bill of Lading 3/3 originals and 3 N/N copies
- K. Q88, Charter Party Agreement (CPA) 5
- L. Insurance policy for 110% of the value
Origin Of Metals
Zambia and Uzbekistan are both rich in mineral resources with an estimated 10% of global copper reserves located in Zambia. The Blockchain Metal Company will work together with 4 companies (2 from each country). All companies are committed to the socioeconomic development of their country and the communities surrounding their operations. They place sustainable development as integral to the way theydo business. Furthermore they are up to the best corporate governance standards, consistent with best practices in the natural resources sector and are mandated to carry out their fiduciary and management responsibilities. Warranting that there is no risk of funding of terror or other illegal insurgents, slavery, child labour, or human trafficking in any part of their business or supply chains.
The first organisation holds a 75% stake in two mining Joint Ventures with a state owned company and operates a large-scale copper-cobalt project with substantial high-grade mineral reserves and integrated metallurgical operations in Solwezi. Its single-site operation, which comprises brownfield assets and new facilities under construction, will soon have one of the lowest unit production costs in the world, net of by-product credits. In January 2008 a merger with an adjacent mine (previously part of the same mining complex) has consolidated its leading position in the region and is expected to generate significant operating and financial synergies.
The second organisation operates a small scale copper project and owns nine deposits in the Kabwe Central Province. Its first open pit operation was launched in May 2000. Current production is focused on one deposit. The company plans to open two additional deposits that will increase its production of its copper cathode product in excess of 10,000 metric tons per month.
Both companies are committed to the socio-economic development of their country and the communities surrounding their operations. They place sustainable development at the heart of their operations. Furthermore they adhere to the best corporate governance standards, consistent with best practices in the natural resources sector and are mandated to carry out their fiduciary and management responsibilities. Warranting that there is no risk of funding of terror or other illegal insurgents, slavery, child labour, or human trafficking in any part of their business or supply chains.
Uzbekistan is a country with very favorable natural and geographical conditions among the countries of Central Asia. The copper extraction and processing is controlled by two big state owned corporations.