Mongolian wind and solar currency (WSEC) draws attention from international economic circle.
Ulaanbaatar, Mongolia -- (ReleaseWire) -- 04/05/2018 --Sun Road Trade, a green company founded in 2015, recently released Wind Solar Energy Coin(WSEC). It will affect the Strategic Situation of Mongolian Currency.
As recognized as a "coal-mining Saudi Arabia", Mongolia's abundance of underground resources are envied by the world. Its rich energy mineral resource could turn into a new opportunity for Mongolia's economic revolution. Recently, news come out that a new digital currency-Mongolian Wind & Solar Energy coin (WSEC) (hereinafter referred to as WSEC) is issuing by Mongolian government as a legal tender. From international economic perspective, a digital currency legally recognized by a national government has tremendous and profound influence on global economy. It certainly becomes a hot topic and draws attention from the international economic circle.
Mongolia has made the best of its advantages. As one of the world's top 20 energy and mineral resources major countries, Mongolia has discovered and identified over 80 energy mineral resources, mainly as coal, petroleum, copper, tungsten and aluminum. There are now more than 800 mining areas and more than 8000 mining sites in Mongolia. Statistics of Mongolia Energy Bureau show that geology forecast for Mongolian coal deposit is estimated to be 173.3 billion tons. And it also shows that Mongolia has explored coal reserves of 23.5 billion tons and recoverable coal reserves of 21 billion tons. Mongolian distribution of coal is lignite mostly over the east part of the country and coking coal and bituminous coal over the west part and Gobi area. Over the central part, lignite is forming into coking coal. There are 80% of coking coal located in the southern Gobi area -- the half of the coking coal minerals are concentrated in ????? ?????? (Tavan Tolgoi coal mine). The advantages in Mongolia's natural resources with huge developing potential and low exploitation cost indicate the launch of Wind & Solar Energy coin (WSEC) a great stimulation for domestic economy of Mongolia.
Western media has commented on Mongolia's issuing of WSEC. Charles Smith of SilverDoctors, a well-known financial website, offers a unique view that the Mongolian currency is just a fraud. If money cannot be converted to a basic commodity based on the needs of the holder, then it is not tied to the physical, which is simply another kind of fraud, he said in an analytical article. Mongolia, with its fragmented social fabric, seems to set to become the first country in the world to issue an encrypted currency and its status as a pioneer naturally implies both opportunity and risk. But taking into consideration of Mongolia's original intention to issue the WSEC, it is likely to be the Mongolian trying to rid itself of the financial black-hole that has engulfed its economy for long. From this point of view alone, the birth of the Wind & Solar Energy coin(WSEC) has already achieved half the goal of Mongolian authorities. A lot of big people in Mongolia are optimistic and positive about the digital currency. Recently, at a conference to discuss "the current situation of power generation in Mongolia, the technical reform of block chain and the deep technology promotion of the Wind & Solar Energy coin(WSEC) project", hosted by the Mongolian Journalists Association is with active participation by Mongolia Energy Department New Energy Cheif, Bavagdorj, Director of the Department of Economic Cooperation of Ministry of Foreign Affair of Mongolia, Director of Mongolian and Chinese Belt and Road Department, Batmagnai, Chairman of Mongolia Information Technology Co., Ltd., Garambat, Chairman of Mongolian and Chinese Belt and Road Trade Development Promotion Committee, Pan Gaofeng and famous Mongolian IT engineer and block chain expert, Enkhtur. Government authorities, business tycoons and high-tech professionals are paying their attention to WSEC closely.
Mongolian wind currency Wind & Solar Energy coin(WSEC), has sparked political and financial debate. Everyone is on the fence. What impact a digital currency will have on a country? Will the economic situation change? If Mongolia successfully issued the Wind & Solar Energy coin(WSEC), it is to believe that this move will leave a great mark in global economic development.
In short, the Mongolian currency Wind & Solar Energy coin(WSEC) is still a new thing in this market with very considerable development potential, which is worthy of continued attention. After all, investment and financial management is not only the operation of capital, but also about sufficient vision and market observation.