Use Case Update — Mine Foundation
Dear Community,
We delivered an update yesterday pertaining to our use cases in order to address your concerns about the incipient roadmap set forth by the founding team and to assure you that we are indeed working diligently to build the project as promised.
But for some, the notice may have simply raised more questions. Consider a question from one user: “This seems like a great project and the use cases provide validation for Auric Network, but how does this impact me? How do I benefit?”
In this article, we want to further explore the conceptual framework that underpins our use cases; how AUSCM interacts with the Mine Foundation, and thus the use cases that it will house. We want to demonstrate that Auric Network is moving mountains to secure use cases in these difficult times for the ultimate benefit of our AUSCM community.
Since its inception, AUSCM was designed as a currency to be utilized as a medium of exchange, unit of account, store of value, and standard of deferred payment by addressing the key issues that plague the fiat currencies currently in circulation. As a reminder and in summary:
- They are intrinsically barren with no underlying value.
- Their value is a function of the selfish agendas set forth by powerful individuals, organizations, and governments.
- Their movement (transactions) are at the whims of centralized bodies.
We do not naively believe that designing, issuing, and then promoting the circulation of a cryptocurrency will achieve this aim of a “better currency”. Nor do we think that merely espousing pleasant ideals of “financial inclusion” will realize our goals.
Our founders are pragmatic and believe actions speak louder than words… sometimes too much to the point that some of us still have nightmares about burning $2.4 million worth of AUSCM!!!
The only way to really instigate the change that we have spoken about is to create a marketplace where AUSCM can actually be utilized to acquire “things of value”. This is what the Mine Foundation is all about. It’s not just a place to spend AUSCM, but a marketplace through which users can get one step closer to being “financially democratized”
At present, all investment opportunities are not equally accessible to all people and it is not a stretch to say that the so-called “best deals” will never be available to the ordinary person, hence the saying: “only the rich get richer”. The Mine Foundation was conceived to solve this inequality as an instrument of financial inclusion.
Access to the “best deals” through the Mine Foundation has only 1 condition: you must own AUSCM. Given the price of AUSCM, this is hardly an insurmountable hurdle for anyone.
Enough talk… this is what it looks like visually. Please note!!! This is a conceptual and simplified representation only.
The key takeaway from this diagram is that holder of AUSCM will be able to exchange their AUSCM for a Use Case specific token to buy their participation in the project/use cases housed in the Mine Foundation. Using our first use case as an example…
AUSCM holders can redeem their tokens for TAU (TAU is one of Mine Foundation’s use case tokens that bridges the exchange of AUSCM for physical gold). Holders of TAU will then be entitled to participate in the opportunity featured in this use case — a right to purchase gold, once produced, at a discounted price.
We must repeat that this is an oversimplified and conceptual explanation of how the Mine Foundation will work. There are many finer details that need to be finalized such as pricing and conversion rates, not to mention all of the development matters.
We aim to provide you with more snippets of the developments on all fronts so that you can see that we are not sitting idle. We are and have always been focused on delivering to the market, a better currency and a disruptive instrument for financial inclusion. That is our AUSCM difference and how we champion financial inclusion and equal opportunity.
Introducing the members of the Bluebird Merchant Ventures (BMV) Mining Team. Veterans of a local industry that is being revived by Auric Network and BMV.
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.
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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.
