Ipow - Incentivized Proof of Work for Decenteralization
Similar to any other business mining coins, require investment, and have variable mining related costs such as electricity, cooling dependancy (weather conditions), labor costs and maintenance. Currently due to the low electricity prices mining is heavily done in China.
In inner Mongolia you can get 1 kW of electricity for 4 U.S. cents. This is less than 1/3 of the electricity price in Turkey.
1*
Bitcoin alone consumes 37.13 tW electricity for mining in a year which is roughly what Qatar consumes in a year. This is a lot of electricity dedicated for the safety of the network. Huge electricity needs what makes Bitcoin safe and very robust. However need of electricity and varying prices around the globe causes bitcoin mining to be very centralized.
*2 
Over 70% of the mining is done in China and in my opinion this is the biggest red flag for Bitcoin and as the difficulty levels increase it will make even more sense to mine in China or places that have cheap electricity. (Unless China stops subsidizing electricity proces)
At the moment Bitcoin is criticized for slow/expensive transactions, which in fact seems to be a temporary problem as developers are working to tackle the issue above with Lightning network. However as far as I am concerned not a single action was taken against the decentralized mining problem.
*3
What I suggest against mining centralization is location subsidized mining with varying mining rewards. The rewards vary according to your mining location. As electric costs and weather conditions are dependent on your location and are the most significant two mining constraints.
By increasing mining rewards for places with high electricity costs and unsuitable weather conditions we can create a homogenized mining network all around the globe.
Advantages:
Decreases the potential problems caused by specific country based problems. For ex: If Chinese government somehow blocks all the bitcoin activity the network would tale a huge hit and stumble until new miners are introduced elsewhere.
Creates opportunity for the less fortunate countries, incentives to help bank the unbanked.
Most decentralized structure.
Sources:
- https://www.ge.com/reports/private-public-partnerships-in-a-connected-world-2/
*1https://www.google.com.tr/amp/s/spectrum.ieee.org/computing/networks/why-the-biggest-bitcoin-mines-are-in-china.amp.html
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