Swarm Intelligence Set

Karvuon - ICO Review

While there are fewer and fewer people who raise doubts about the future role of blockchain as a fundamental component of international economic and financial relationships, data management, and e-governance, the fact that Bitcoin mining requires ever-increasing amounts of electricity and leaves a dangerously high carbon footprint gives ammunition to the critics of cryptocurrencies. Even if we leave crypto out of the equation, the ongoing global progress, which marks the transition to the so-called fourth technological paradigm, is still associated with the unprecedentedly high electricity consumption, thus forcing the innovators to seek balanced solutions.

A group of such innovators/crypto enthusiasts from Mongolia claim to have arrived at a solution that would allow satisfying the demand not only for cryptocurrency mining but also for the entire electrical power market. To achieve that goal, the team organized a sale of utility token with a ticker KVN, which is adherent to the Ethereum token standard.

Karvuon’s industrial park features 

The Karvuon’s ambition is to build an ultra-modern industrial park in the heart of Mongolia, an Eastern Asian country that has a vast territory of 1,5 million km2 , which consists mostly of deserts and steppes, and has over 300 days of sunshine per year, most of which are very windy. All these factors constitute exceptional prerequisites for the mass production of energy from renewables. Moreover, Mongolia is relatively rich in natural resources, specifically coal and other fossil fuels, which supplements the list of options for efficient mass production of electricity. The projected industrial park will include the following elements:

  • A coal power plant with the capacity for electricity production of 200 MW. That, of course, goes against the concept of cryptocurrency mining strictly on clean energy. Although it has practical logic to it since Mongolia officially has around 400 million tons of coal deposits, using which would give Karvuon a much-needed jump start and secure the profit margins at the initial stages. The project claims that as the development of the industrial park progresses, the team will make a full shift to the power generation from renewables.
  • A network of solar PV farms situated on 250 acres of land, with an annual production of 50 MW. The electricity produced at such farms will be transported to the Mongolian electrical grid and then to the Asia super grid, where it could be purchased by the interested parties.
  • The wind power plant would be the centerpiece of the entire industrial park since it has the expected energy production capacity of 1,100 GW/year.
  • A data center will be oriented primarily to the Chinese market to satisfy this country’s constant demand for data storage space.
  • A crypto-mining farm that will consist of 500 thousand mining machines to provide the second stream of profit, along with the sale of electricity.

All operations carried out within the Karvuon ecosystem will be duly recorded on the blockchain; the KVN tokens will grant access to the network and will be used as a payment vehicle as well as a means for P2P transactions and allocation of dividends.

The Karvuon team

  • Manlai Bat-Orshikh. Founder and CEO. The Colorado State University graduate (computer science) and a founder of several tech firms. 
  • Gantig Bayarmagnai. Co-founder and COO. A crypto expert and a founder of a Mongolian cryptocurrency exchange and community.

The IEO details

Karvuon is now having a presale of KVN tokens that will end on January 10, 2020. The IEO will commence on January 15 and end on the 29th of the same month. The price of 1 KVN is $0.02 - the minimum investment threshold hasn’t been announced yet. Tokens can be purchased only with Ethereum. Whitelisting and KYC are mandatory.

Author: Alex Paulson for Crypto-Rating.com

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StartJanuary 15, 2020
EndJanuary 29, 2020

Certainly, the idea of building a huge industrial park for the production of electricity is marvelous, but I wonder what's the stance of the Mongolian government on this initiative. I have read the project's whitepaper and didn't find any mentions of official permits to build such an infrastructural object, let alone conduct some business operations. Besides, producing power from fossil fuels is so out of fashion. Nowadays, people are crazy about renewables. I saw that they promise to make a switch to eco-energy, but do you really believe them?

Krazy Mick   February 6, 2020  

Karvuon looks like a startup with a well-elaborated vision and business plan. Mongolia is undoubtedly one of the most suitable countries for such an industrial park since it has the appropriate climate and the necessary spectrum of resources. I will keep an eye on this project as it seems super-promising to me.

Giovanni Russo   January 24, 2020  

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