A Local Business Funded by GxCoin
It was Pierre’s friend, Henri, who suggested an idea that could help Pierre’s business reach that next tier of success. Henri was reading about cryptocurrencies when he came across GxCoin, a token developed specifically for communities to invest in local, small businesses. It was one of those infamous long nights, staying up late into next morning talking about how you would reinvent the world; a secret of French culture.
On October 7th, Saturday morning at 7AM in Lyon, France, Pierre receives an email from GXC Project.
“Dear Coutume Cafe,
With an 82% approval rate from the GXC community, we are honored to inform you that we will be moving forward with a plan to fund your project!
Congratulations, we look forward to working with you.
-The GXC Community”
Let’s take a quick look at what the GXC Community and small businesses can accomplish at the beginning of Q4, 2017
Genesis
Back on August 27th:
Two days after launching their ICO, the GxCoin Project reaches its maximum cap of $10mm. The community is excited to see their new investment grow, and they are curious to learn more about the small businesses that will benefit from their investments.
Saturday, September 23rd in Lyon, France:
Coutume Cafe is a locally sourced, organic French Brasserie. It’s the sort of establishment families love going to for either a late night dinner or a late breakfast on the weekend.
With an interest of accommodating their growing customer base and expanding their business, they apply to be part of the GXC Project. They submit the required documents, a process including an interview and a webinar with the community, and Pierre, the owner of Coutume Cafe, waits to hear from the GXC community.
What happens next?
After Genevieve performed their due diligence, and the GXC community casted their vote, GxCoin Project prequalified Pierre’s business for funding. Coutume Cafe is now a project of GxCoin. They sign a LOI and, included in these terms, Pierre has agreed to accept GXC as a payment method in his cafe. He has also agreed to be a point of liquidity for GXC Token owners.
Meanwhile, GXC Europe, which represents the interest of the GXC token owner in Europe, is ready to sign the final transaction to acquire 24% of Coutume Cafe capital and invest through capital.
In exchange, Pierre committed through a process of litigation to provide a quarterly reports and distribute rightful dividend his investors. The contract also states that Pierre will buy back the share in 4 years from now.
With the contract and legal documents signed, GXC Europe converts the digital currencies obtained during the ICO into Fiat, or in this case Euros, using Octagon Strategy’s services. The Fiat is then posted to the Coutume Cafe bank account in accordance to the advancement of their project.
Monday, October 30th:
Today, Pierre has a meeting with his GXC business representative to work on his growth plan and new developments of the Coutume Cafe project.
Coutume Cafe reports back with great news. During this first fall they built out a terrace, an investment that expanded their revenue by 27%. “Our customers really seem to enjoy having the option to sit outside. They truly benefit from the fresh air and this beautiful Fall scenery.” Pierre also reports that the advertising and buzz created by the GXC Project generated more onlookers and customer traffic, some even paying in GxCoins. “Being able to accept a digital currency has brought us a whole other niche of customers.”
Welcome to the GXC Project, a program launched by Genevieve and Cie.
