Crypto currency mining: A possible solution to #LandExpropriation in South Africa
South Africa, my home, is currently faced with a difficult task. The leadership has vowed to redistribute the wealth of the country so that those disadvantaged by the Apartheid Era can finally know prosperity.
The problem is that the South African Constitution only allows for land expropriation if compensation is paid out to the land owner. Land claims naturally end up in Court, as it is only human nature to hold onto what you value most. Add the legal expenses to the fair and reasonable compensation price, which government must pay, and you've got an expensive process which becomes an obstacle to progress. This is perhaps one of the many reasons for as to why my country's Parliament has announced that it will be amending its Constitution to effectively take land from current land owners and to hold it in State capacity.
Yes, indeed, my country thinks Communism is a solution. This is how desperate the situation is. If only there was an obvious, less insane alternative that could actually cause immense wealth generation. Something far better than what is currently being suggested.
In my humble opinion, as young tech enthusiast, Crypto mining is a very real solution to the problem but nobody has noticed it yet. Kazakhstan noticed the potential for immense economic growth and plans to create a "crypto valley" haven for all crypto projects. Ice Rock mining for example is an ICO based in Kazakhstan which mines Bitcoin out of old Soviet Bunkers. The cold temperatures of the region ensures that the cooling needed on the mining rigs is kept to a minimal, increasing profitability even further.
If my government could see the potential of crypto miming, an endorse investments into the practice by not taxing the living daylights out of investors, we could see many land owners willingly sell their land, take the payouts without a legal battle and invest it into crypto mining contracts. Areas such as Sutherland, in the Western Cape, are cold all year round making it cheaper to mine there and thus doing for South Africa what those soviet bunkers do for Kazakhstan.
It is much easier to persuade someone to give you something if you offer them something better. If my government does what I have suggested, huge economic growth and wealth sharing across the nation could be a reality. Why only focus on what value we currently have when so much more could be generated? As a bonus, it could help unify the various cultures and races that make up South Africa by giving its citizens a common goal: getting rich!
If you've read this article and found it interesting, please give me a hand and share it. I really just want more people to see this idea. This article could help any country, not just mine.