According to the press release, AUSCM will make it easier to take economic shelter in gold. The token is not just meant to be a refuge for the Ethereum DeFi community, but also broader society.
Joseph Lee, CEO of BMV Korea, mentioned present geopolitical and economic uncertainties and today’s unprecedented levels of demand for gold before stating, “We are pleased to partner with the Auric Network and Mine Foundation to broaden access to gold. The token is truly a breakthrough in financial technology and we are excited for the future.”
BMV’s gold-rich mines located in South Korea have been inactive since the 1970s due to legislative decisions to pivot away from mining to technology. Recent geological assessments have revealed nearly 4 million tons of ready-to-mine gold.
“Since the initial assessments, we’ve discovered a number of additional veins of gold that continue beyond what we expected,” Joseph Lee reports. “Sharing access to these resources while providing an alternative investment source for the public is a win-win.”