“Decentralized finance is the longer term. Cryptocurrency helps individuals dwell in a group with out the standard intermediary bills. It supplies equal alternatives for everybody.” – Ider-Od, co-founder of IHC.
Mongolia is a landlocked creating nation, sandwiched between two large neighbors – China and Russia, situated within the middle of the Asian continent, far-off from seas, oceans, and most significantly, from worldwide buying and selling networks. It’s also the seventeenth largest nation by its territory, with a land richly endowed with pure sources. However, its unfavorable geographical place has prevented the nation from turning into an export-oriented economic system and reaching sustainable financial progress. Furthermore, Mongolia’s economic system, which is the 132nd largest based mostly on its gross home product, has skilled the worst setback since its financial transition within the early Nineties as a result of strict COVID-19 restrictions imposed by the federal government over the previous two years.
5 entrepreneurs, Ider-Od Bat-Erdene, Erkhembayar Byarsaikhan, Gantig Bayarmagnai, Munkhjin Otgonbaatar, and Munkh-Erdene Burenjargal, are in search of revolutionary options for reaching financial progress and assuaging poverty by making cryptocurrency the primary driving pressure for producing and bringing wealth into the nation.
“Cryptocurrency is borderless. It’s the key answer for international locations like Mongolia for tackling financial points. We wish to empower the powerless by retaining large cash, authorities, and federal banks in test to supply equal alternatives for everybody.” – Gantig, co-founder of IHC.
With over 100 billion token orders fulfilled after its launch at 11 a.m. on August 25, the Inflation Hedging Coin (IHC), a brand new cryptocurrency created by tech-savvy entrepreneurs, broke the web. Inside simply 30 seconds, hundreds of fans invested 10 million USD within the newly created tokens, making it one of many fastest-selling cryptocurrencies on this planet.
IHC launched 100 billion tokens with 25 billion equally positioned on 4 completely different cryptocurrency exchanges: coinhub.mn, commerce.mn, complicated.mn, and dax.mn. IHC has a complete provide of 1 trillion cash, of which 100 billion are actually publicly owned. It took solely 11 seconds on DAX, 43 seconds on Coinhub, 1 hour on Complicated, and Commerce for individuals to purchase up all of the obtainable tokens, with two of the platforms crashing and overwhelmed by over 100 thousand guests.
Primarily based on blockchain expertise, Inflation Hedging Coin goals to introduce an ecosystem of economic companies, together with seamless transactions. IHC founders share a imaginative and prescient for making a decentralized answer to combating inflation.
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