Photo By Parveen Kumar
By Tricitynews Reporter
Chandigarh 04th December:- A Singapore based young Indian
entrepreneur, Vikas Gupta shared on how he is in the process of creating a huge
multi-million dollar mining infrastructure to support blockchain businesses
across Asia, starting off with Singapore.
Vikas Gupta, CEO of
Miners at Work (MAW) mentioned, “We are making mining simple and user friendly
for investors. So that they can get decent rewards without any hassles. Initial
Coin Offering (ICO) is a new and transparent way of arranging capital for
technology start-ups by crowd funding where investors get tokens for
that".
Vikas
Gupta is scheduling an Initial Coin Offering (ICO) of 300 million GINNI tokens.
The indian market will have the opportunity to be part of an enterprise that is
expecting an average turnover of over U$1 billion per year and with an average
profit of over $21 Million making it very lucrative for investors. He is
raising about US$15 Million for 50% of tokens at a moderate 6x times P/E ratio.
MAW
will be launching its GINNI token PRE-ICO starting on the 6th of
December, 2017 and the public crowd sale for the ICO will start on the 6th of
January 2018,' said Mr. Gupta. Pre ICO price(3100 Ginni/Ethereum) gives early
investors a gain of about 40% over the closing ICO price(2200-2800
Ginni/Ethereum) making it very attractive in a situation where double digit
returns are quite rare these days not only in India but worldwide as well.
Ethereum is hovering in the range of US$300 to US$350.
It
is very common in this industry to quote token prices equivalent to Ethereum
and tokens are issued by smart contract automatically. There is No direct
involvement of cash or the banking system in this whole process. Investors send
the Ethereum and tokens are send back to the same wallet instantly and
automatically without any human involvement. This is a very transparent process
where each individual can see how much funds have been raised by this start-up.
Vikas
also mentioned, "We value investors as our lifeline and we have decided to
reward them more than us, making it a lifelong asset. What makes our business
model unique is that, we will retain only 42% of profits and will reward the
remaining 58% to investors in a prorated ratio. The rewards will start from the
very first quarter itself. This way the investors can get rewards which will be
higher than the returns in property and bank interests rates. We are so
confident that our team will not be drawing any salary and will be paid from
the 48% share of profits only. As such, our investor’s hard earned capital will
not be eroded in ‘fat salaries’ akin to C Level executives".
“Our
tokens will be listed on at least 2 exchanges and an investor can trade them
easily to get liquidity. This gives them an easy exit with options to buy, sell
or exchange. We see a strong demand for the GINNI tokens not only in India but
worldwide as well.”
'What
makes GINNI ICO different from the others is that it has a business and process
in place and the pilot project has been successfully tested. The necessary
space, power and team has been arranged. The next step would be to scale up
funding by MAW’s ICO which will be used for installing mining servers, FASTCOIN
crypto ATM machines as well as develop new value added products,' said Mr.
Gupta who has built a team of experts both in the Singapore head-office and the
development team in Gujarat(India).
One
interesting fact is that Vikas is able to create jobs for the disabled through
Miners at Work. His team consists of individuals who are physically impaired,
have shortcomings in hearing, speech and even with conditions such as Cerebral
Palsy.
MAW's
second product line is exciting as well. The setting up of a network of
FASTCOIN Crypto Automatic Teller Machines(ATM), the first of which will be
installed in Singapore next month. These ATMs will trade cryptocurrency for
cash and unique in a way that, FASTCOIN can dispense numerous crypto coins as
compared to other vending machines which predominantly dispense Bitcoins only.
Digital
asset and P2P exchanges (peer to peer exchange) are in the process of
development by his team to facilitate trade of coins. This platform will allow
individuals to trade crypto coins with FIAT as well as other cryptocurrencies
and will have many USP's.
Singapore
is said to be one of costliest place in world. Vikas with his innovative
approach has made this business possible and profitable and tested it
successfully while most people would refute such an idea deeming Singapore as
too costly for mining business.
MAW
is strategically based in Singapore and enjoys a lower taxation rates. This
makes the business more profitable overall in terms of returns (ROI) as
compared to other locations worldwide. Singapore is also supportive to IT savvy
industries and could be a hub for future phases of technology.
Vikas
informed "We already have a strong feedback and interest from a few
investors. Ongoing expansion will be driven by token demand from worldwide, due
to merits of our start-up.”
MAW
is not Vikas' 1st billion dollar project. His youth was never questioned when
he was selected as Chairman of the En-bloc sales committee of Sim Lim Square.
The largest electronic shopping hub in Asia, Sim Lim Square is worth more than
$1 billion. Vikas is the youngest such Chairman in Singapore and the
first Indian to have gained the trust and attained the initiative of over 400
businessmen to sell it collectively.
