Bitfury Group and South Korean R&D firm to launch Bitcoin mining centers in Paraguay

The Bitfury Foundation and South Korean R&D group, Commons Foundation, are collaborating to launch Bitcoin mining centers in Paraguay.
Commons Foundation will launch a cryptocurrency exchange in late 2019 to which will conduct KYC/AML using Bitfury’s Crystal analytics platform.

Rajarshi Mitra Independent Analyst

The Bitfury Foundation and South Korean R&D group, Commons Foundation, are collaborating to launch Bitcoin mining centers in Paraguay. This collaboration is part of Commons Foundation’s project named “Golden Goose” which is backed by the Government of Paraguay. The purpose of this project is to create the world’s largest crypto mining center supplying the country with ample cheap and clean electricity.

Valery Vavilov, CEO of Bitfury, said:

“We are committed to increasing the security of the Bitcoin Blockchain, both through innovation in our hardware portfolio and expansion of its network throughout the world. Bitfury has consistently prioritized the global decentralization of the Bitcoin Blockchain and we look forward to helping our partners introduce this industry to Paraguay.”

Commons Foundation will launch a cryptocurrency exchange in late 2019 to “bring further innovation to Paraguay and help build a blockchain ecosystem in Latin America.” This proposed exchange will conduct KYC/AML using Bitfury’s Crystal analytics platform.

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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