Wednesday, June 14, 2017

Kyrgyzstan is the newest country planning on creating a national gold backed cryptocurrency

The nation of Kyrgyzstan is quickly becoming one of the most important countries in the Eurasian sphere, as it is not only a part of the burgeoning Eurasian Economic Union (EEU), but they are also an important point along China's new Silk Road initiative.  And in preparation of their becoming a rising star for the future of emerging economies, the Prime Minister of Kyrgyzstan announced on June 14 that his nation in the process of planning for the creation of a gold backed sovereign cryptocurrency.


Kyrgyz authorities are preparing to release a national cryptocurrency. The ambitious project will engage the Russian company "crypto HH", which will become the main trader during the ICO (Initial Coin Offering - initial public offering cryptocurrency).Responsible for the project assigned to the local state-owned company "Trading House Kyrgyzstan", where the release of information has been confirmed officially. According to two sources close to the Kyrgyz government, the new cryptocurrency (its working title - GoldenRock) will be backed by gold. 
Kyrgyz authorities have decided to undertake the development of gold deposits, this state needs private investment. For quick money decided to release cryptocurrency - this is the first public project in the Eurasian Economic Community (EAEC). Each unit (a token) GoldenRock be backed by gold equivalent. The owner of the token after the development of the field will be able to exchange it for the metal. The decision of the exact value of the token is pending. - IZ

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