Report: Bitcoin Far Less Harmful to Environment than Previously Thought
A recent report by CoinShares, a website that is dedicated to in-depth research on cryptocurrencies and the blockchain suggests that Bitcoin is far less harmful to the environment than the media purport. The report delivers now definite numbers for relativizations that other proponents of cryptocurrencies have already made. The report suggests that especially China’s contribution to energy consumption due to crypto mining is far exaggerated. The partly central planned economy of China invested a lot into renewable energy which often leads to an energy surplus in the country. The report states that miners make use of this surplus energy that else would go to waste. China makes up for roughly 60% of the Mining in Bitcoin. Another 35% of regions such as the Pacific Northwest, Oregon and British Columbia are even more focused on the production of renewable energy.
German Investment Company Xolaris Sets Up Two Funds to Invest in Crypto
The German investment company Xolaris set up a fund to invest into cryptocurrencies. The management expects to collect up to $57 million for the fund. The fund will invest primarily in the crypto mining sector. A part of the fund is already determined to be invested in a joint venture in collaboration with Marc Stehr. Stehr runs an already working crypto mining rig. With the help of the fund, the rig will be expanded. Xolaris also announced that it is going to set up another fund with similar capital that will also be used to invest in the crypto sector.
Amazon And Huawei To Be New Competitors In Blockchain Technology Industry
Blockchain technology evolution has received a major short in the arm following the entry of Huawei and Amazon into the Distributed Ledger Technology space. On the part of Amazon, the $1 trillion worth company owned by ultra-rich billionaire Jeff Bezos has announced that it is launching two Blockchain platforms including the Quantum Ledger Database (QLDB) and the Amazon Managed Blockchain (AMB). Amazon unveiled the two platforms during the company’s Invent conference that seeks to support technological innovations for the going concern.
SEC Fails to Prove that Blockvest Tokens Are Securities
A US District Court is currently dealing with the case of the company Blockvest. Its founder Reginald Buddy Ringgold, III who also goes by the name Rasool Abdul Rahim El made up US-American regulators. He claimed that these regulators approved Blockvest’s ICO. Blockvest could collect $2.5 million earlier this year in exchange for its own crypto token. Now the court has to deal with the question of how to deal with the case. The SEC which is the main plaintiff in the case failed to prove so far that Blockvest was dealing with securities without having a license.