Based in Kazakhstan, the Facite foundation published its first dividend-income type cryptocurrency Facite coin (FIT) in order to obtain substantial revenue to help expand its business domain.
Facite foundation is working on a government policy project in which they took over INNOB Co. Ltd; a company that signed an official contract with Shymkent city since September 2018 to supply the city’s electronic transportation card. With investments totaling up to 13 billion KRW, the company is expected to earn accumulated revenue of 85 billion KRW within 10 years of its operation.
The Facite coin will match its compatibility with AFC/BMS type electronic payment system and secure its usability in Almaty city’s wholesale mart MAGNUM, various shopping & art centers, amusement parks, and casinos to expand services for their users.
Furthermore, Facite holds business licenses for the 60MW solar photovoltaic power station, and took over the business license of Targar’s 18 MW Hydroelectric power plant business from KHAN 21 HOLDING (the main project executor), and has obtained over 100ha of land near Kapchagay lake for their business site. Moreover, they have acquired 49 years of land usage license for an area of 3ha just outside of Kapchagay city to build the largest crypto mining center in Central Asia.
Facite foundation will operate its crypto mining center on the best climate condition, with beneficial government policy on crypto mining business and cheap electricity of Kazakhstan. The Facite foundation obtained an area of 180ha for their mining center which can operate up to 2 million crypto mining computers. With cheap electricity cost, the company is expected to earn a consistent and stable amount of revenue. Currently, some 20,000 mining computers from Chinese Hwaryongwoon Network Company, 10,000 mining computers from a notable Korean gaming company Mgame and another 20,000 from Sirius Crypto currency Company are expected to start its operation by June 2019. The Facite foundation will operate as the electricity supplier and install another 40,000 mining computers of their own resulting in 100,000 crypto mining computers to increase their revenue.
The Facite foundation has based its company in Kazakhstan because of its advanced policy on digitalization that led its economy to show exponential growth. By implementing Korea’s leading technology and management know-how, Facite is processing numerous businesses such as solar power plant, electronic transportation card, and cryptocurrency exchange. Additionally, with plans to operate the largest crypto mining center in Central Asia using renewable energy, the company’s value is constantly rising as they are making the mining process eco-friendly. This will build a solid foundation for its blockchain environment and contribute to Kazakhstan and Central Asia’s economic development.
Facite is defined as “to create” in Latin. In essence, the name of the company displays its aspirations to create something from nothing and their desire to contribute for not only the development of Kazakhstan and Central Asia but also to the world and the happiness of the people.
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