Paraguay Signs Agreement To Construct World’s Largest Mining Farm

By Rishma Banerjee

The government of Paraguay recently collaborated with Blockchain Technology Foundation “Commons Foundation” and signed an agreement to facilitate the construction of the world’s largest mining farm. This signifies an effort to establish the country as a reference when it comes to technological innovation.

A press release from the “Commons Foundation” revealed that the project was to be known as the “Golden Goose Project” and would be implemented in Ciudad del Este, one of the main cities of the country, famous for its tourism industry and commercial development.

The contract provides that the Paraguayan government will give concession for the use of an approximately 50 square kilometers plot of land near ‘Itaipu’ Hydroelectric Power Plant, the world’s largest clean energy plant. They will also provide a stable price of electricity for a period of 15 years along with all the facilities required in the field of telecommunications.

Chairman of the Commons Foundation, Choi Yong-Kwan seemed quite positive about the agreement, and emphasized that along with the economic factor they were to also look for an eco-friendly alternative:

“Only 10 to 20 percent of electricity is produced at Itaipu hydroelectric plant and consumed in Paraguay. More than 80 percent of its electricity is exported overseas. We will build the world’s largest mining center in Paraguay using low-cost and abundant clean energy.

“Commons Foundation” has plans to host a series of pre-sales and an Initial Exchange Offerings in concurrence with Paraguayan laws to fund the project which will be done through MicroBitcoin(MBC), BTC(Bitcoin), and Ethereum(ETH).

The vice president of Paraguay, Hugo Velázquez Moreno expressed the nation’s interest in the project and gave assurance that the government, would fully support the project.

“The Paraguay government will actively support the Commons Foundation’s ‘Golden Goose project’ and provide tax breaks through constitutional revisions,”

Mr. Choi Yong-Kwan also said that the possibility of this project succeeding was also very high:

“We will create a new world-class ecosystem through ‘Golden Goose project,’ which is the world’s largest cryptocurrency mining center and the world’s largest cryptocurrency exchange.”