Search Results for: Mongolia

Canadian Blockchain Project to Assist Mongolian Nomadic Farmers Fight Income Instability

Convergence.tech, a Toronto-based digital transformation company, has finished a blockchain-powered project aimed at assisting Mongolian nomadic farmers in maximizing returns on their cashmere product.  Betakit reported on Jan. 8 that Convergence.tech deployed an Ethereum-based traceability platform called “Backbone” to assist the cashmere herders in eradicating income instability.  The farmers also face challenges, such as the … Continue reading Canadian Blockchain Project to Assist Mongolian Nomadic Farmers Fight Income Instability

Mongolia’s Oldest Bank Will Soon Offer Comprehensive Crypto Services

Mongolia’s Trade & Development Bank (TDB Bank), the oldest and one of the largest banks in the nation, seeks to enter the crypto space by offering various services all under one roof, in line with its objective of promoting the Mongolian virtual asset financial business. Pooling resources together TDB Bank has partnered with Delio, a … Continue reading Mongolia’s Oldest Bank Will Soon Offer Comprehensive Crypto Services

China's Inner Mongolia to Shut Down Bitcoin Mining Operations Due to Energy Efficiency Concerns

A major Bitcoin mining hub in China, Inner Mongolia, will be shutting down its extensive cryptocurrency mining operations by April of this year, and will also not be granting approvals for new mining farms to be established. Per a CNBC report on the matter, Inner Mongolia’s efforts to stop new cryptocurrency mining projects and shut … Continue reading China's Inner Mongolia to Shut Down Bitcoin Mining Operations Due to Energy Efficiency Concerns

Bitcoin Miners from Inner Mongolia and Sichuan Are Selling BTC Mining Tools

Bitcoin miners from the Chinese regions of Inner Mongolia, Sichuan, and others are beginning to sell off their mining hardware to not step into the red line of the law. According to Wu Blockchain- the Chinese journalist’s post on Twitter last Saturday, there were numbers of crypto mining gears listed for sale on the trading site Xianyu, which is … Continue reading Bitcoin Miners from Inner Mongolia and Sichuan Are Selling BTC Mining Tools

Authentication of Medicinal Products Made Possible by Blockchain Technology

Kadena, a blockchain network, has partnered with Rymedi, a healthcare data platform provider, to validate the quality of medicinal products via blockchain.   Through the strategic collaboration, Rymedi will offer its prowess in the healthcare spectrum by capturing, tracking, and sharing data via Kadena’s blockchain technology about medicinal products.  Rymedi’s CEO, David Stefanich, noted: “With their … Continue reading Authentication of Medicinal Products Made Possible by Blockchain Technology

UK Research Shows 66% Control of Hash Rate is Coming From China

Decentralization and blockchain are two words that many purists believe must be put together to be the future of financial technology.   Reporting on a study developed by UK based company CoinShares, as much as 66% of global hash rates come from and are controlled by Chinese entities.  Mining is a crucial element in distributed … Continue reading UK Research Shows 66% Control of Hash Rate is Coming From China

Chinese Authorities Pressure Bitcoin Miners to Scale Down Operations

Authorities in Sichuan, China has been reportedly pressuring Bitcoin miners to scale down their operations due to electricity shortages. During the dry season, extending from October to April, the electricity supply drops in the province.  China has been reported to have been controlling two-thirds of the global Bitcoin hashrate, while Sichuan has been accounted for over … Continue reading Chinese Authorities Pressure Bitcoin Miners to Scale Down Operations

FinTech Remains as a High Priority Sector, Says Hong Kong Chief Executive Carrie Lam at the Asian Financial Forum 2020

The 13th Asian Financial Forum, taking place as a two-day event starting on Jan. 13, 2020, in Hong Kong, gathering the most influential leaders of the global financial, government, and business sectors, groundbreaking discussions on inclusiveness, innovation, and fintech. Fintech as one of the high priority sectors in Hong Kong In the opening session of … Continue reading FinTech Remains as a High Priority Sector, Says Hong Kong Chief Executive Carrie Lam at the Asian Financial Forum 2020

China Accounts for 65 Percent of Bitcoin’s Hash Power, New Research Reveals

An interactive map published by the University of Cambridge’s Alternative Finance Center (CCAF) revealed Chinese miners accounted for 65 percent for the global hashing power used by Bitcoin.  China dominates Bitcoin mining The CCAF tracked mining data for over a year from websites like BTC.com, ViaBTC, and Poolin, with the premier university claiming the map … Continue reading China Accounts for 65 Percent of Bitcoin’s Hash Power, New Research Reveals

Bitmain Business Booming Despite Public Feud Between Co-Founders Jihan Wu and Micree Ketuan Zhan

Mining giant Bitmain continues to accelerate—signing a new $23 million Antminer S19 Pro Contract with Marathon Patent Group—despite the public feud between its co-founders Jihan Wu and Micree Ketuan Zhan dominating the news over the last year. Global leader in cryptocurrency and Bitcoin mining equipment, Bitmain has continued to expand its business with an announcement today that … Continue reading Bitmain Business Booming Despite Public Feud Between Co-Founders Jihan Wu and Micree Ketuan Zhan

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