Paraguay’s vice chairman has declared assist for the “Golden Goose” challenge, which can see South Korea’s Blockchain Technology Foundation construct 5 mining facilities on state land. The basis also plans to conduct what it describes as an “initial exchange offering” to facilitate investor participation within the challenge.
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South Korean Group to Build Mining Centers
The Blockchain Technology Foundation, also often called the Commons Foundation, has entered into an settlement with Paraguay to assemble what it claims might be a big mining hub. It mentioned the federal government has supplied 5 10,000-square-meter plots of land to host 5 deliberate mining facilities. The land is in shut proximity to the huge Itaipu hydroelectric energy plant.
A 15-year contract guaranteeing secure electrical energy pricing from the ability plant has been included, as has the set up of requisite high-speed web infrastructure and tax concessions. Choi Yong-Kwan, chairman of the Commons Foundation, claimed that solely 10 to 20 p.c of the electrical energy produced by the Itaipu dam is definitely consumed in Paraguay. “We will build the world’s largest mining center in Paraguay using low-cost and abundant clean energy,” Choi claimed.
Commons Foundation Plans ‘Initial Exchange Offering’
The Commons Foundation also claims that it’s going to develop “the world’s largest cryptocurrency exchange” as a part of the Golden Goose challenge.
A latest press launch introduced that the challenge will facilitate investor participation by way of what the the muse calls an “initial exchange offering.” The providing will assist participation within the type of BTC, ETH and an altcoin that the Commons Foundation “contributes to” known as microbitcoin.
The Commons Foundation claims that Golden Goose token holders might be paid 30 p.c of mining earnings and 70 p.c of change earnings “on a daily basis.” However, earnings might be solely paid out in microbitcoin.
Despite the obscure construction of the deliberate providing, the challenge seems to have full assist from Paraguay’s authorities. Hugo Velázquez Moreno, the vice chairman of Paraguay, has said that “the Paraguay government will actively support the Commons Foundation’s Golden Goose project and provide tax breaks through constitutional revisions.”
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