PR: Fin Foundation Plans to Implement Token Payment on Gas Stations all over Western Europe

Bitcoin Press Release: Fin Foundation, a newly created company with South Korean roots, are aiming to take over the Russian and CIS gasoline market, by implement the FIN token as a method of payment at gas stations. The payment method has already been implemented for several gas stations in South Korea.

April 24th, 2019, Burgas, Bulgaria – Fin Foundation allows crypto holders to pay for petrol in crypto and get discounts in price. Oil and gas companies have recently become interested in the Fin Foundation project, because for them it is an opportunity to attract a new audience (e.g. cryptoholders) to gas stations.

One of the biggest South Korean oil refining companies have already made a deal with Fin Foundation, as well as the Russian Nordgas Trading LLC. The FIN token will also solve the problem of the lack of contactless payment options in some regions.

Fin token is using the ERC-20 protocol based on the Ethereum blockchain, but later the team plans to implement Fin Foundation’s own blockchain, as it will be more convenient when more gas stations connect to the chain. Right now, FIN token is available only on Korean exchange Bitsonic, with trading in BTC, ETH and KRW available. The team is planning to secure listings on the top Coinmarketcap exchanges.

Crypto ATM Integration & Team Setup

As the marketing director Jun Lee says, Fin Foundation has acquired a number of crypto ATMs, to allow FIN token users exchange the tokens right on the gas stations. FIN token can be transferred to the ATM from the exchange or imToken, the mobile wallet app. Crypto holders will be also able to get cash from crypto ATMs, by exchanging the FIN token for fiat currency. The biggest challenge for the team now will is the shipping of the crypto ATMs from Russia to South Korea, and adapting the software for Korean users.

The project has an international team with wide experience in the energy sector and finance. The CEOKirill Druzhkov, was the Head of Investment Project Support division at Sintez Holding, and has created an investment strategy for the oil and gas portfolio company. He also used to work in leading finance positions in Western World Fund, CASYS, T-Mobile and other companies. Jun Lee, CMO, previously worked as the manager on gas pipeline constructions in Turkmenistan and Uzbekistan.

Fin Foundation has ambitious plans to takeover Western European gas stations. The Next countries the project is targeted to are Estonia, Latvia and Lithuania.

For more information, visit the website: http://finfoundation.net/

Media Contact Details
Contact Name: Anton Degtiarik
Contact Email: adegtyarik@gmail.com

FIN Foundation is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. Token sales are only suitable for individuals with a high risk tolerance. Only participate in a token event with what you can afford to lose.

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Bitfury and Swiss Investors Launch Bitcoin Mining Fund

Bitcoin Mining Fund

Bitcoin mining technology firm Bitfury Group, recently valued at USD 1 billion, has entered an alliance with Switzerland-based investment firm Final Frontier to launch a regulated Bitcoin mining fund, as reported by Reuters.

Under the supervision of Liechtenstein’s financial regulator, the Financial Market Authority, the fund was developed for both institutional and professional investors to claim access to “the esoteric world of bitcoin mining”.

Bitcoin mining is basically the means by which the Bitcoin network is secured and transactions validated, using computing power to solve extremely difficult cryptographic puzzles. A computer, or a collection of computers connected to a node, credited with solving the next puzzle will have built a block. New blocks will include verified transactions and are added to a chain of chronological blocks, hence adding on to a blockchain. The node credited with finding a new block also receives a block reward of freshly minted bitcoin, so this is also a way of minting new coins, hence, Bitcoin mining.

It has proven to be a profitable business for almost a decade now, with home mining on personal computers very quickly switching to more powerful processors, and eventually companies like Bitfury manufacturing highly specialized equipment called ASICs. Bitfury’s part in this new deal will be to supply the hardware and end-to-end services for the Bitcoin mining fund. It will also be responsible for scouting out the new sites for the activities, deploying equipment and servicing them later.

Ultimately, the fund hopes to invest in mining sites operating with the lowest costs featuring Bitfury data centers. Final Frontier co-founder Imraan Moola aid:

“With the bitcoin price down significantly from its all-time high, yet institutional interest growing every day, now may be an opportune time to consider investing in Bitcoin mining.”

 

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