With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, Platform Facite established by the government of Kazakhstan is aimed at the control and supervision of the entire activities of the trade digital currency and mining.
"Mining, in the context of blockchain technology, is the process of adding transactions to the large distributed public ledger of existing transactions, known as the blockchain. The term is best known for its association with bitcoin, though other technologies using the blockcahin employ mining. Bitcoin mining rewards people who run mining operations with more bitcoins.
Blockchain mining involves adding transactions to the existing blockchain ledger of transactions distributed among all users of a blockchain. While mining is mostly associated with bitcoin, other technologies using a blockchain employ mining as well. Mining involves creating a hash of a block of transactions that cannot be easily forged, protecting the integrity of the entire blockchain without the need for a central system."
With that being said, the Facite Foundation built and operates a mining center in Kazakhstan based on geographical conditions, government policies, and electricity schemes for the mining industry. The mining center can accommodate up to 2 million mining machines with a size of 180 hectares (ha) and can be expected to produce stable and consistent revenue generation based on cheap electricity.
But before we go any further, please check out this video presentation to get even more acquainted
Now that I have your attention, let’s get right to it.
What exactly is FACITE?
The main goal of the Facite investment project is to develop the financial and economic environment in Kazakhstan using blockchain technology.
The Facite Foundation built and operates a mining center in Pavlodar, Kazakhstan based on geographical conditions, government policies, and electricity schemes for the mining industry. The mining center can accommodate up to 2 million mining machines with a size of 180 hectares (ha) and can be expected to produce stable and consistent revenue generation based on cheap electricity.
Some of the revenues from the mining center are shared with Facite token holders and the profits from the Facite Foundation’s projects in Kazakhstan are also allocated to the community.
Facite Foundation’s Business Model and Dividends
The Facite Foundation also operates Kazakh bus cards and solar power plants. The solar power plant will be built in Almaty, one of the three major cities of Kazakhstan. The Facite Foundation will receive and provide a portion of the profits generated in these two projects to Facite token holders.
Holders of Facite tokens will receive dividends of the profits earned from the Pavlodar Facite mining center, the Shimkent City bus card project, and solar power plant project. The profits allocated to holders can be checked in detail through the Facite Foundation’s dividend chart.
Solar Power Station
Promoting the renewable energy business of the government of Kazakhstan
KHAN 21 HOLDING entered the field of solar energy. Purchase of a business license
Selected as an investment corporation – the Talgar city, a solar power station and a project area of a hydroelectric power station
The first pass gate of Korea in Kazakhstan to the final report of the Ministry of Commerce, Industry and Energy
Transport Payment Card
Acquired license for INNOB CO., Ltd
Introduction and operation of a public transport
It is planned to introduce the U-payment system
Optimum environment, low-cost electricity
Electrical equipment data center with the support of the city
About 2 million mining machines are available
49-year lease contract
Token Name: FACITE
Token Symbol: FIT
Price: 1ETH = 30,000 FIT
IEO Primary – 10%,
IEO Secondary – 5%
Total Supply: 5,000,000,000
Soft Cap: 400,000,000 FIT
Hard Cap: 2,000,000,000 FIT
Facite will be doing IEO in https://www.namebit.co.kr/ exchange on 27th to 29th of May.
The next IEO round will be announced in different exchange soon!
Tokens will be distributed as follows:
40% will go on sale
20% of the company’s operating activities
10% team members
10% to developers
Tokens issued to team members and consultants will be blocked for 6 months from the first day of listing on the stock exchanges.
This concludes the review. In conclusion, I would like to say that such a global and effective project will make a breakthrough in the cryptocurrency sphere and bring profit to its investors in the near future.
Facite Foundation established.
Facite business began.
Mining center site and electricity agreement.
Mining center established.
Installation of 100000 mining machines.
Installation of 300000 mining machines.
Installation of 500000 mining machines.
Installation of 700000 mining machines. Expand bus card use.
Installation of 900000 mining machines. Execute U-payment.
Installation of 1.2 million mining machines. Solar power dividend.
Installation of 1.5 million mining machines.
Installation of 1.8 million mining machines. Commercialization of Facite coins.
Installation of 2 million mining machines.
MEET THE AMAZING TEAM
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Till next time…
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Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.