Please celebrate our release from quarantine today! Ulaanbaatar city remains in lockdown until the end of the week, but it is still great to be on the ground. As soon as the lockdown restrictions are lifted, we will travel to the project site to check on the ground conditions, and meet with local stakeholders and leaders. We are excited to see our team and partners in the flesh.
As stated ad nauseum, Auric Network is committed to financial inclusion, which extends to the communities in which our projects are executed.
Whilst providing a stable source of electricity to support regional, commercial, and industrial growth, we want to go one step further and enhance the quality of life of our communities. This is consistent with the principles of financial inclusion and equal opportunity that underpin the protocol.
The construction of the power plant, which at present is estimated to be around $150 million will provide a significant economic stimulus to the region. For large-scale industrial projects, there is a general rule of thumb that the economic stimulus for the region is 1 to 4. This means that for every 1 person directly employed by the project, the economic impact would extend to 4 people. I challenge any government to beat this fiscal impact!
We will be in discussions with local, political, and community leaders to design the policies for employment and procurement that will leave an indelible economic impact in the region. Auric Network believes this is the only way for projects of this magnitude to be built and operated not only to be consistent with the principles of financial inclusion but also as a commercial safeguard; a project of this scale cannot sustainably operate without community support.
Whilst there is much excitement about the social impacts induced by this project, we can’t help but be a little more excited by being able to share with you, our AUSCM community, a hardcopy of the official Power Purchase Agreement (“PPA”):
The documents have been notarized, reviewed by Auric Network’s lawyers, and verified by the Mongolian Ministry of Energy. There is nothing like seeing the original document.
As a teaser:
Mine Foundation’s use case token, Flash, will be linked to electricity. For those who can’t grasp the economic significance of this, look up “electricity trading”. Electricity is a valuable commodity just like gold or silver. In saying this, however, please do not presume that we are releasing an investment product… not at all. We just want you all to realize that electricity is indeed a valuable asset.
We can’t help ourselves… one more thing:
We are after all in the crypto space and as you all know electricity costs are the biggest hurdle to economically mining BTC.… think of what can be done with cheap electricity??!
Think about the potential of a $150 million infrastructure project if it is coupled with a bitcoin mining operation…?
About Auric Network
Auric Network (AUSCM) is a synthetic commodity money that is not dependent on the current world-based currency as the goal price or value. Instead, Auric relies on the centuries-old currency of all currencies, or store-of-value: gold.
Disclaimer: AUSCM is not an investment product. It is not intended in its design or distribution to be utilized as a form of investment, speculation, or a financial product. No communications from Auric Network Limited to users constitute financial advice, a solicitation for investment, or a guarantee of a financial return. Please do your own research and investigation before participating in this project.