Traditions of the Kyrgyz people were being formed with the help of economic, trade, domestic and other relations with kindred and other tribes that were closely related to the geography of their ha...

After the coup of 19 March 1953 in the socio-political history of Iran there were fundamental changes: the powers of parliament were limited and the absolute power of Mohammad Reza Shah Pahlavi was...

In the Middle East, Saudi Arabia and the Islamic Republic of Iran are two countries that claim to leadership in the region. With a powerful resources and political potential these countries are the...

Kyrgyzstan To Issue The First EEU Crypto-Currency

Saturday, June 17, 2017 - 04:00

Kyrgyzstan intends to issue the first crypto-currency in the EEU countries. The authorities of the republic made this decision in order to obtain the funds necessary for investing in the development of gold mines in the country. The company “Kript NN” (Russia) will take part in the implementation of this project. During the Initial Coin Offering, it will act as the main trader. As for the organization responsible for this project, it's the Kyrgyz state company “Trade House of Kyrgyzstan.” Its representatives have officially confirmed the information on the issuance of the crypto-currency.


In addition, sources close to the project inform that the new crypto-currency with the working title “GoldenRock” will be provided for with gold.


The issuance of the crypto currency will be the first project of this kind in the EEU countries. Each unit of GoldenRock (a token) will be provided with a gold equivalent. When the development of the deposit begins, the owner of the token will be able to exchange it for the precious metal. However, the exact cost of one token has not yet been specified.


According to Ulan Musakulov, Advisor to the General Director of the Trade House of Kyrgyzstan (THK), it is planned to attract investments not only in the gold mining companies, but also in a number of agricultural projects.


“Since the state acts as a shareholder of the THK, the specific ICO parameters are currently at the stage of coordination with the government of the republic. In addition, it is necessary to coordinate them with representatives of the companies that have submitted requests for funding, as well as with our Russian partners. According to the plans, a number of Russian companies will provide us with technical support. The THK has quite a wide range of partners in Kyrgyzstan, Russia and China, and they will be involved in the implementation of many interstate projects,” Ulan Musakulov added.

URL of this article: