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A Chinese city in the world’s bitcoin mining hub is publicly encouraging the blockchain industry to help consume excessive hydroelectricity ahead of the summer rainy season. Ya’an, one of the many cities in China’s mountainous Sichuan province, a region that’s estimated to account for over 50 percent of Bitcoin network’s computing power, has recently issued a public guidance – likely…
A driving force behind the scenes of China’s ambitious blockchain infrastructure project says he used to be skeptical of the technology. “Initially I thought blockchain, especially distributed ledger technology [DLT], had no commercial value because it was too expensive,” said Yifan He, CEO of Beijing Red Date Technology. “Then I realized we can actually build a multi-framework platform to reduce the cost for…