Old Hydroelectric Dam in New York Converted To Bitcoin Mining Farm

An old hydroelectric dam in New York will now be used to power a Bitcoin mining farm.

DPW holdings Inc. will use power generated by the Valatie Falls which is expected to be in operation this last quarter of 2018.

Vatalie Falls Hydro LLC bought the 1-megawatt dam in March 2018 using debt financing from Digital Power Lending, a DPW’s Super Crypto Mining Subsidiary.

It will be used to establish a cryptocurrency mining farm at the site of the dam using AntEater Miner, which is developed with Samsung Semiconductor.

DPW holdings is not the first company to establish its own hydropower facility for cryptomining.

MGT Capital Investment secured a location in central Washington in 2016 with hydropower to launch a Bitcoin mining operation.

However there are concerns that demand from Bitcoin mining operation are expected to drive up the price rates in some region.

In response to this the New York State Public Service Commission announced in March the upstate power authorities can charge crypto mining businesses with high density loads higher rates.

SEC’s Bitcoin ETF Concerns Are Valid According To Wall Street Journal Reporter

Paul Vigna, widely considered the foremost Wall street Journal crypto reporter reveals his opinion over the regulatory state of Bitcoin/crypto-backed ETFs.

In an interview with CNBC he concurs with the SEC assessment that there is not much transparency within exchanges.

In traditional capital markets, legacy exchanges provides a lot of oversight for the markets and have a good grasp on the identity and background of its customers.

This enables exchange operators to pinpoint anomalies or any kind of manipulation to prevent economic, political or legal damage.

This security mechanism, he believes is not yet in place for cryptocurrency exchanges.

In closing, he states that it is good to see SEC doing its role in which the regulatory body is doing its best to bring cryptocurrency to the mainstream by finding ways how to regulate it that we can use in our daily lives.

Fujitsu Uses IOTA As New Protocol Standard

Fujitsu, a Japanese ICT conglomerate is launching an IOTA-based proof-of-concept (PoC) for audit trail processes in manufacturing industry.

The company will use the IOTA protocol as an immutable data storage medium for audit trails across industrial production environment and supply chains.

Its aim is to improve transparency and trust and security in data.

Program manager at Fujitsu’s Industry 4.0 Competence Center based in Munich, Leopold Stemberg, states that the new partnership will help roll out IOTA as the new protocol standard and the tech giant is well-equipped to do so given its expertise in the ICT services and manufacturing industries.

The notice outlines a proposed cryptographic ID system for product components and their production status that would be connected via nodes on IOTA’s Tangle protocol and hosted by Fujitsu.

Huobi Acquires Controlling Share In An Investment Company

Cryptocurrency Exchange Huobi is said to have acquired the controlling stock interest of Pantronics Holdings Ltd. according to a local news outlet in Hong Kong.

The acquisition was done through a backdoor listing deal which is also known as a reverse takeover or reverse Initial Public Offering (IPO).

This allows a privately held company to purchase a publicly traded company avoiding the public offering process, regulatory issues and due diligence.

Upon completion of the deal, the buyer gains automatic inclusion on a stock exchange.

However, it seems that Huobi does not intend to go for automatic listing as it is not such an easy task to do said Huobi’s CEO Mr Li Lin.

He reveals that crypto exchange businesses which are not yet fully compliant in a global scale makes a backdoor listing very difficult to operate.

However, Lin believes that traditional financial market will embrace the blockchain economy in the future.

10 Million downloads For Crypto-Funded Brave Browser

In a recent tweet by the official account of Brave Browser, it was said that the crypto-powered flagship browser Brave has been downloaded more than 10 million times, doubling its user base in just under 4 months.

The ad-blocking browser, rewards readers and content publishers with its Basic Attention Token (BAT) which aims to revolutionize content monetization by not dependending on advertising, tracking of user behavior and sale of user data.

Content creators can be rewarded with BAT micropayments from viewers and there are plans for regular users to also be rewarded for using the platform.

Under this framework users will be able to opt in to be served with non-intrusive advertisements native to the brave platform.

In return they will receive a portion of the advertising revenue in form of BAT payments that will be automatically converted into their local fiat currency.

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