SAND COIN – Initial Token Offering
We had the chance to sit down with Ruslan, The CEO of Sandcoin.io
This is a very unique use case for how blockchain can be added as a disruptive technology for all of the industries, even to the more obscure use cases along the lines of delivery for sand. Although this may seem abstract, it actually has a lot of value for the delivery of goods to a project. Making it easy to see why these guys have started some waves with this space.
We expect to see a lot more movement in the construction space
Crowdfunding a sand quarry?
A digital asset representing parts of our earth? Sand Coin is the first crypto-currency which will represent a Sand Quarry project. The project seeks to raise 3.5 million dollars for a sand quarry development in the Moscow region. The vision is to create a new economic environment for non-metallic materials and the construction business. The problem being addressed is regionally specific. Roads, rail and a variety of other construction projects in the Moscow region are in the need of sand. The quarry is located 60km outside of Moscow on almost 300,000 acres of land and has been drilled and surveyed to confirm sand yields.
Each Sand Coin is tied to a cubic meter of sand, which has a market value of around $5. Mining a cubic meter of sand costs about $1.25….and the mining operation should produce an average rate of 90,000 cubic meters per month…..for about the next 13 years. The numbers for profitability add up.
Unique Use Case for The Blockchain
The project is simple, straight forward and easy to understand. The tech is a simple ICO smart contract. SAND COIN will be sold @ .95 to $1.35 per coin. The company plans to buy back 50% of the coin supply over the next 5 years to increase investor profits. The white paper did not have any real information on the team….but the website has some simple profiles. There are also a number of videos with the team members…but unfortunately they are in Russian. While there appears to be construction experience in the team…I am not sure which if any has experience operating a quarry.
The ICO of SAND COIN will fund the infrastructure, mining and transport operations for a year-round sand mining operation. We should be seeing many more ICOs of this type in the future, marking the beginning of a new economy in construction. SAND COIN gives investors to the opportunity to be part of what looks like potentially profitable sand mining operation.
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