Ampersand Markets bringing precious metals into 21st century
The only PhD student to work under John Nash is using blockchain technology to bring to precious metals and mining into the twenty-first century.
Ampersand Markets founder and CEO Seth Patinkin said he has long been interested in how the metals and mining industries operate throughout their production chains. That interest was stoked when he worked under famed mathematician John Nash while in grad school at Princeton.
“We discussed numerous times how he’d like to have a universal currency backed by a precious metal adoption model,” Mr. Patinkin said.
The founders borrowed from the line of thinking in designing Ampersand Markets, Mr. Patinkin explained. Participating mining companies produce silver which comes with a Digital Right that allows buyers the ability to obtain a specific amount of silver represented by the AXSI token. The Digital Right’s value will be consistent with market forces and will scale with t