After Venezuela issued oil coins, news came from the digital money market that Mongolia will issue the world’s second digital currency, Mongolian currency wsec. It is also the second digital currency issued by the state in human history. It is reported that the relevant departments of the Mongolian government are holding in-depth discussions with Baoyin Daorji, chairman of Mongolian Sun Road Co., Ltd., who is in charge of issuing Mongolian currency wsec, making an effort to put the issue of Mongolian currency wsec on the agenda as soon as possible.
On February 9th 2018, the director of the new energy department in the ministry of energy of Mongolia, Bhaudolgi, the chairman of Mongolia Information Technology Co., Ltd., and the chairman of the Mongolia-China Belt and Road Trade Development Promotion Committee, Pan Gaofeng, the chairman of Mongolia Sun Road Co., Ltd., Baoyin Dalji, the head of the economic cooperation department of the Ministry of Foreign Affairs of Mongolia, and the director of the department of Mongolian Central Belt and Road, Bart Magneh; and the famous IT engineer of Mongolia, Enktuerzi, an expert on block chain, gathered together. Under the auspices of Enktuya, general manager of TV-2 of Mongolia, the status quo of power generation in Mongolia, the technical reform of block chain in Mongolia, and the deep technical promotion of wsec in Mongolia are discussed. Sources said that on 2018, Mongolian currency wsec, the energy coins will be trade in the secondary markets in Mongolia and the international digital encrypted currency exchange.
So what areas will the Mongolian currency wsec be likely used in after it goes public? What changes will it bring to Mongolia? Let’s make a bold guess. First, like oil coins, the launch of the Mongolian currency wsec is bound to set off a rush of robbing the currency. Oil coins received $735 million orders on the first day of pre-sale, overtaking Venezuela’s expectations and giving investors more confidence in the legal currency as they bought oil coins. Well, in the early stage of the Mongolian currency sale, its price will certainly have a certain discount as the oil coin, and it will also increase value in the short term after the issue. It can be predicted that the Mongolian currency wsec will become the same as the bitcoin and has a very high investment value as an investment channel.
Today, bitcoin has gradually developed from the original game currency into a universal currency with very strong purchasing power. After the issue of the Mongolian currency wsec, it will certainly circulate in Mongolia first, and will be used within a certain commercial scope. The Mongolian currency wsec may become a common currency for businesses in Mongolia.
As far as the current economic situation of Mongolia is concerned, although Mongolia is a big mineral country and is rich in new energy resources, under the influence of US economic sanctions, the economy has been in a downturn since 2016. It is still unknown whether the issue of Mongolian currency wsec can solve the economic problems. So the Mongolian currency wsec is good, but it also depends on whether it can really play the expected role.
However, with the endorsement of Mongolian government credit, rich mineral and new energy resources to support, the issue of Mongolian currency wsec is welcomed by a large number of investors. Moreover as two countries with serious economic problems, Mongolia’s economic situation is still much better than that of Venezuela, and its inflation rate and domestic situation are better than those of the latter. There should be no doubt that the Mongolian currency is expected to have a better outlook than the oil coins, so the issue of the Mongolian currency wsec has risks and opportunities. It depends on your decisions.