Use Case Update Live from Mongolia

The Founders of Auric Network have been committed to creating a shift in economic paradigms since inception, and this goal has not changed and never will.

At a pragmatic level, this vision cannot be realized with just the release of a new currency, regardless of the sound and compelling economic principles that underpin the protocol. That is to say that the true shift can only be instigated through the adoption of the currency en masse. In this context, we believe that the adoption and circulation of AUSCM can only be realized through the creation of marketplaces that facilitate the creation of real-life, tangible use cases for our currency.

Driven by this core belief, Auric Network has tirelessly progressed efforts to secure additional use cases and marketplaces where AUSCM can be accepted and utilized as a medium of exchange, store of value, unit of account, and standard of deferred payment.

Use Case 1

Following on from the agreements with a London Stock Exchange Listed mining company, Bluebird Merchant Ventures (“BMV”), that will allow users to buy gold at a discounted rate, (updates on this are coming very soon… so soon we can smell its fragrant aromas!!), we are pleased to provide more detail on our second use case for AUSCM.

Use Case 2

As leaked through our social media channels, our second use case relates to a thermal power plant development in Mongolia’s North Western province of Uvs Aimag. This region of Mongolia currently buys its electricity cross border from the Chinese grid; energy security for any nation is of paramount importance and this project for Mongolia is no different.

The planned 60MW power plant has been deemed a project of national importance by the Mongolian government and has therefore been granted a 30 year Power Purchase Agreement (“PPA”). A PPA is a sovereign guarantee that the power generated by the power plant will be purchased by the government, at a fixed price for a fixed period of time, regardless of whether it is ultimately used by the consumers on the grid. In other words, this is a project where the future cash flows of the powerplant are guaranteed by the national government of Mongolia.

The operating company, West Mongolia Energy LLC, has executed an agreement with Auric Network to allow the project to be deployed on the much anticipated Mine Foundation Platform. This presents an exciting opportunity for users of AUSCM to participate in a project that is usually only reserved for large institutions. It also speaks volumes for the way in which Auric Network is being viewed by governments and the global institutions (SOE’s, international EPC groups, and global financial institutions) that are also involved in the project, writ large. The bona fides including agreements and permits, as well as definitive participation terms, will be provided very soon as part of our launch of the Mine Foundation.

Our senior leadership team is 2 days from being released from quarantine to get this project going.

Photo: Ulaanbaatar as seen from the Novotel Hotel quarantine. Time stamped and Hotel TV guide for your reference in case you don’t believe us!!

The visas even to enter the country were granted and flights were secured under extraordinary circumstances. This is evidence that the power plant project and our involvement is taken very seriously by the top levels of government. Auric Network is moving mountains to keep our promises and advance our project.

We are excited to share this news with you, our AUSCM (awesome) community, and transparently providing updates of our major developments has been an essential step to ensuring huge success in the development of our ecosystem.

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.

Website | Whitepaper | Github |Telegram | Twitter |Discord

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.

A Gold-Based Synthetic Commodity Money

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