Life happens, and sometimes cash disappears faster than you can say “broke”. Enter pawnshops, the often-misunderstood heroes ready to swoop in when bank loans are on the decline. Who knew these treasure troves of forgotten knick-knacks could play such a crucial role in our financial lives?

The Pawnshop Revolution

With 28% of college-educated millennials tapping into short-term loans from pawnshops, it’s clear that these establishments are far from relics of the past. They’re looming large in the current financial ecosystem. While it may seem like these shops have lost their edge to the world of digital financing, they’re still standing strong—and evolving.

Pawnshops: Not Just a Last Resort

Pawnshops often cater to those struggling to secure credit elsewhere. For small business owners facing cash crunches or individuals needing quick cash, pawnshops can provide immediate liquidity. However, these shops face their own financial challenges, including a lack of accessible funding. Here’s where innovation comes in.

Innovating the Pawnshop Experience

Dmitry Plushchevsky, co-founder of the GoldMint project, has had his sights set on this niche since 2015. Recognizing the potential for technological advancement in pawnshops, he began addressing key issues they faced:

• Realization of unclaimed pledges
• Wired payments
• Funding for pawnshops
• Unified standards across the industry

By collaborating with a network of 140 pawnshops in Russia, Plushchevsky test drove some solutions, including Lot-Zoloto, which achieved a whopping US$ 10 million turnover per month.

Bringing Transparency to the Table

To add a layer of transparency, he developed the ‘Bogatstvo’ MasterCard for pawnshops. This nifty little card allows users to make transactions at any Russian bank ATM without accruing fees, highlighting a more modern approach to pawning.

The GoldMint Game-Changer

Enter GoldMint and its innovative peer-to-peer (P2P) lending mechanism aimed at empowering pawnshops. With a collateral portfolio in Russia alone estimated at $1 billion, GoldMint is determined to tap into this untapped treasure.

The Vision Behind Custody Bot

GoldMint is introducing a unique device called Custody Bot, a mini fortress for gold that audits and verifies value securely. Imagine a high-tech safe with a built-in spectrometer—basically a spy for your shiny stuff. Once gold is assessed, it can be securely stored and tracked via a special code, ensuring that lenders feel safe when getting cozy with pawnshops.

Investing in a Liquid Future

The clock is ticking for GoldMint’s initial coin offering (ICO), which starts on September 20, 2017. The MNT token offered during this launch isn’t just another cryptocurrency; it’s a ticket to earning regular income from transaction approvals.

What Makes MNT Different?

Unlike traditional token systems where miners are dependent on processing power, MNT token holders are guaranteed a slice of the pie based on their holdings—no need for speed competitions!

The Road Ahead

GoldMint’s goals don’t stop there. They’re working towards a future where Custody Bots make their way into gas stations and eventually evolve into home versions that let individuals assess and borrow against their gold safely stored at home.

If successful, GoldMint will not only enhance the liquidity in the gold market but significantly alter how we think of gold—from a static form of wealth gathering dust to a vibrant, dynamic asset that fuels peer-to-peer transactions.

In a world where cash flows are unpredictable, GoldMint could very well be the link we need to turn our hidden treasures into real opportunities.