On April 23-24 the global blockchain and cryptocurrency industry meets at Blockchain Life 2019 Asia in Singapore.

| 5000+ attendees
| 80+ speakers
| 70+ countries
| 120+ booths

Top managers of international blockchain companies, crypto traders and analysts, funds and investors, perspective ICO and STO projects, developers and miners will meet again to discuss current industry trends, strategies, innovations and show how to earn money in this industry.

Blockchain Life forum is an annual event that brings together international blockchain and crypto-community at the one place. In 2018, event was held in St. Petersburg (Russia) and became the largest industry event in Europe, gathered more than 5000 attendees.

Top speakers of the «Blockchain Life» forums were: Roger Ver (founder Bitcoin.com), Sergei Khitrov (founder Listing.Help, Icotop.io), Jason Hu (WBO), Miko Matsumura (Evercoin), Martin Kuvandzhiev (co-founder Bitcoin Gold), Edward Chen (Huobi Exchange), Aldrich Victorino (OKEx Exchange), Charles Cai (Dalian Wanda Group) and other leading international industry professionals.

The venue for Blockchain Life 2019 Asia will be at the world’s leading hotel Marina Bay Sands, located in the heart of Singapore. Participants are able to attend speeches by world leading experts, meet international companies in the exhibition area, and communicate with like-minded people and experts in networking areas.

*This post is credited to Nulltx

Six months ago, I traveled to the Democratic Republic of Congo with photographer Sebastian Meyer and revealed how thousands of young children were working 14-hour days digging cobalt—an essential mineral found in every one of our mobile phones, electric vehicles, and computers—for just a few dollars a day. The scene was heart-breaking. Children living in desperate poverty were servicing giant tech and auto industries, whose products they would surely never be able to own in their lives.

Now a few companies have seized on a possible solution: Using blockchain to track and monitor how their cobalt is mined and marketed. Ford MotorCompany; the Korean battery-manufacturing giant LG Chem; China’s Huayou Cobalt; and RCS Global, a London-based organization for responsible supply chains, announced this week that they will jointly create the first blockchain distributed platform to encompass the entire production cycle for cobalt. IBMwill power the technology.

The group claims that the immutable identity of the information uploaded on to the blockchain will allow it to monitor and assess every step of production, from the moment cobalt is dug out of the ground in remote southern Congo—where most of the world’s cobalt reserves lie—to the smelters and refineries in Asia, and finally the global trading market. “The risks we are looking for are operational health and safety, conflict financing, and child labor,” Nicholas Garrett, CEO of RCS Global, tells me. Under the new blockchain system, each entity will report its stage of the process. “Each player assesses for responsible practices,” he says. The idea is to scale up the blockchain, allowing more and more mining and refining companies to join the platform.

Any company failing to meet due-diligence standards will be ejected from the platform. The incentive for companies joining the blockchain is to keep extracting Congo’s huge resources, while still claiming to the world that they are following ethical business practices. “We remain committed to transparency across our global supply chain,” says Ford’s vice president for global purchasing and powertrain operations Lisa Drake; the company recently announced it is investing $11 billion on EVproduction over the next few years. Drake says the blockchain “will help meet our commitment to protecting human rights and the environment.”

But will it really do that?

As our reporting in DRC showed, cobalt mining in Congo has been riddled with human-rights violations and corruption for years, and operates in a vast Central African country beset by violent conflict.

Given that, the new blockchain project might deliver fewer results than the companies claim. It is beginning with just one pilot site, Luswishi Industrial Mine in DRC’s southern province of Lualaba, which uses machine techniques to extract cobalt. As such, the initiative does not (for now) tackle artisanal mines, which industry analysts believe account for about 20% of cobalt production, and which continue employing the child miners we met in the DRC last year, like 11-year-old Daniel and 15-year-old Lukasa.

“Traceability is not the final objective, it is just a means to an end,” says Rashad Abelson, legal advisor on mineral supply chains for the Organization for Economic Cooperation and Development in Paris, which has drafted codes of conduct for the industry. “There’s a risk that companies could treat blockchain technology as a panacea that is going to solve all the problems,” he says.

Children like Daniel and Lukasa will almost certainly continue digging for cobalt as long as they can, since the root causes of child labor remain: Deep poverty, and a lack of education and job opportunities.

Even leaving aside child labor, there are other problems too: As we saw in the villages, cobalt markets and mines we visited, there are few resources to scrutinize people’s work habits. In the Kasulo mine, which is operated by Huayou, we watched hundreds of men digging cobalt with manual tools, and with no protective gloves or hard hats. And that was the site Congo’s local provincial officials wanted us to see, as an example of good mining practices.

Abelson fears that the bare-bones conditions in Congo could also lead to bad information being uploaded on to the new blockchain platform, in areas where there is low literacy, and almost no experience of software technology; in some areas, there is not even Internet access. In addition, there will be few ways to know whether the data on the blockchain is true or false. “It is not yet totally clear how this technology would resolve the issue of validating information that is fraudulent from the outset,” he says.

The stakes for fixing the labor violations and corruption in cobalt production are high indeed. As people increasingly choose electric vehicles over fossil-fuel models, global demand for cobalt could increase 700% by 2030, according to the cobalt-trading company Darton Commodities in London.

The question now is whether the world can embrace green technology, and still adhere to ethical standards.

*This post is credited to Fortune

Epic Games might have recently poured cold water on our steamy blockchain-gaming dreams, but another major video game publishing company has stepped up to keep hope alive.

Square Enix, the publisher of smash-hit, gaming franchises Tomb Raider, Kingdom Hearts, and Final Fantasy, is preparing its investors for a foray into the world of blockchain.

Recently, the president of Square Enix, Yosuke Matsuda, published a letter to his shareholders in which he laid out the company’s vision for 2019. And topping the list for the company’s “potential for new services” is Matsuda’s growing crypto curiosity, citing—interestingly—the crypto crash of 2018 as the impetus:

“With the subsiding of the cryptocurrency bubble, the use of blockchain technology has spread to a variety of non-cryptocurrency domains as well,” he said. “One has been the gaming space, where there have been some interesting developments with games and game platform services using blockchain technology.” The head of Square Enix went on to say that the company is also “very interested in potential applications for blockchain technology in the digital content space.”

A growing number of major video game publishers and distributors have already begun testing the utility of blockchain. In November, game-development company Arcade Distillery announced a deal with Sony to release the first blockchain game on a major console; “Plague Hunters” is slated to land on the PlayStation 4 early this year.  Other major players include Ubisoft, the makers of Assassin’s Creed and Rainbow Six.

Indeed, a number of  blockchain-focused companies, including Ubisoft, ConsenSys (which funds Decrypt, an editorially independent site), Everdreamsoft and Ultra, launched the Blockchain Game Alliance last fall. Ubisoft’s Strategic Innovation Lab spent the better part of 2018 exploring blockchain’s potential to decentralize and individualize gaming experiences, as well as to provide gamers with “true ownership” of their digital assets.

Nicolas Gilot, co-CEO of Ultra—a blockchain-based “next-generation games distribution platform”—is equally bullish on the blockchain gaming future. He told Decrypt that the technology is “already proving its potential beyond the ownership of in-game items and providing groundbreaking, innovative solutions.”

Says Gilot: “Looking at the future of gaming, in three to five years time, I believe the industry will be completely unrecognizable to where we are now by virtue of the incorporation of blockchain.”

And with Sqaure Enix considering joining the campaign, we may soon count another elder role player among the blockchain bold.

*This post is credited to Decrypt

Blockchain technology can power an open DNA data marketplace that drives a new wave of genomics research to transform precision medicine and the treatment of rare diseases.

Humanity is at the very beginning of a tremendously exciting era of precision medicine. The cost of genome sequencing a person has already fallen below the $1000 dollar mark. Soon it will be down to $100. Gradually, a growing percentage of the world’s population is being afforded the opportunity to receive health treatment and lifestyle advice relevant to their genetic makeup, and also to share their genomic data for the betterment of humanity.

This means researchers and health professionals could soon enjoy access to a vast resource of genomic sequencing data and health records that could help them investigate disease and transform patient outcomes.

However there are many obstacles to overcome first.

Firstly, science needs access to extremely large numbers of genomic and other healthcare datasets in order to gather meaningful and potentially transformational information. Secondly, for the promise of precision medicine to be fulfilled, data must be easily sharable and interoperable across technological, geographic, jurisdictional, and professional boundaries.

There are many ongoing initiatives across the globe aiming to facilitate the sharing of genomic data and thereby enabling precision medicine progress. Health apps based on genomic and other health data are good examples. But frequently, they are addressing the sharing problem from different angles, or often simply competing against each other. This stifles research and innovation and prevents medicine and healthcare moving forward at the pace it should.

Ending the genomic data monopoly

In reality, a few large businesses currently hold the monopoly on the vast majority of genomic data, and make vast profits from selling it to third parties, usually without sharing the earnings with the data donor. Things have to change.

There needs to be a means by which patients, health professionals, governments, researchers and providers of health technology can access data, cooperate, collaborate, network, and form partnerships.

I believe the world needs a centralized health data hub – an open marketplace where health and genomic data can be shared, borrowed, or sold. Of course this platform would have to be secure. But by utilizing blockchain technology and next-generation cryptography, trust could easily be built around the ecosystem, alleviating consumer hesitations about leaving personal data online or in the hands of corporations.

Healthcare and wellness providers such as clinics, genomic counselors, pharmaceuticals, research organizations, governments, patient-support groups and insurance companies that joined such an ecosystem would no longer have to compete with each other to gather data. It would be there for them all to use – for example, to boost clinical trials or facilitate drug research and development.

Patient benefits

But there would have to be incentives for people beyond donating their data for the betterment of mankind. Firstly, they should be empowered to share their data however they liked, whether donating, loaning or selling it. Blockchain technology would enable them to stay in absolute control of their data – in the knowledge it is totally secure. Individuals  should also be able to benefit from access to applications that leverage their data and enhance their wellbeing and health – for example, nutritional and fitness advice, treatment plans, genealogy, disease predisposition, pharmacogenomics, and lifestyle management.

Looking into the future, as more personalized biological information becomes available, services could be offered that are based not only on genomic data, but also other health, biological, socioeconomic, and environmental information. When combining genomic data with other molecular data, such as epigenomic, metabolomic, transcriptomic, microbiome data, and clinical information, the resulting rich datasets enable integrative analyses to be carried out at unprecedented depth and scale, facilitating new insights into molecular disease processes.

By implementing an open, collaborative platform and marketplace, critical mass will be achieved faster in precision medicine, utilizing the magnifying power of network effects. Of course, this data hub has to be international. Today, many ethnic and geographical populations are still worryingly underrepresented in public databases.

This is an exciting time in healthcare, all the technologies are in place to transform the health of humanity. Like the world was changed forever by the invention of the internet, the healthcare ecosystem is ripe to be revolutionized through giving data ownership back to the people, ushering in a new form of global healthcare. The destiny of world civilization may depend upon providing decent healthcare for all humanity; that is what civilization is all about.

*This post is credited to Dataconomy

South Korea’s Defense Acquisition Program Administration (DAPA) has launched a programme to encourage local industry to develop blockchain technologies for military applications.

DAPA said on 15 January that the project, through which the agency is offering domestic industry access to funding, is intended to “develop new platforms and services using blockchain technology”.

It said the funding is available to large and small companies in the country and that selected blockchain projects would be presented with opportunities to integrate solutions into South Korea’s efforts to develop and procure 4th Industrial Revolution (4IR) technologies.

The 4IR emphasis has been outlined in South Korea’s Defence Industry Development Plan, which was introduced in 2018 and calls for greater focus on industry investment in the development of technologies including robotics, artificial intelligence (AI), big data analytics, and autonomous systems.

*This post is credited to Janes

HSBC is leaning more heavily on blockchain-based tools to handle the fiddly processes behind foreign-exchange trades, suggesting banks are finding solid applications for a technology used in cryptocurrencies, which have been under pressure since valuations tumbled last year.

The London-headquartered bank, a heavy-hitter in forex dealing, has processed more than 3m FX transactions worth $250bn using blockchain technology in the past year, it said on Monday. That represents a tiny sliver of its overall currencies business, but still offers a rare example of a blockchain-based product that has proven its worth in wholesale finance.

Settlement provider CLS — an industry utility that ensures each side of currencies trades gets paid — launched a so-called distributed-ledger technology platform in November last year with Goldman Sachs and Morgan Stanley. But after an initial flurry of hype surrounding the potential for the technology, most DLT-focused start-ups have yet to come up with a product, stymied by concerns over speed and security.

Still, a number of projects are in testing mode. DTCC, a post-trade market infrastructure provider, moved its DLT project aimed at credit derivatives reporting to a trial phase in November last year. In the same month Spanish bank BBVA and two partners completed a syndicated loan on blockchain technology.

The HSBC project, known as “FX Everywhere”, has been used to co-ordinate payments across HSBC’s internal balance sheets using a shared ledger for a year. During that period it has handled more than 150,000 payments — netted down from 3m transactions — automating previously manual processes and reducing the bank’s reliance on external technology providers.

“HSBC . . . conduct[s] thousands of foreign exchange transactions within the bank, across multiple balance sheets, in dozens of countries,” said Richard Bibbey, acting global head of currencies at HSBC. “FX Everywhere uses distributed ledger technology to drastically increase the efficiency of these internal flows.”

Multiple executives at the bank can simultaneously use the system to view trades from execution to settlement, reducing the risks of discrepancy and delay, the bank said. The platform has reduced HSBC’s spending with CLS, the bank added.

HSBC now plans to make its platform available to clients, particularly companies that manage a number of treasury centres and cross-border payments.

*This post is credited to The Financial Times

Disclosure: AppWorks is a fully independent venture capital fund/startup accelerator and is not currently affiliated with any of the companies or organizations mentioned in the article below, with the slight exception of BitoEX, which went through our accelerator in 2014. But since we’re equity-free, we have no stake in the company.

Sprouting from a few stray meetups and small projects, Taiwan’s blockchain ecosystem has grown tremendously in the past few years. The activity in the space can be traced back to as far as 2013 when MaiCoin, one of the island’s first digital asset exchanges supporting fiat-to-crypto trading, was established.

It was also around the same time that Taipei Bitcoin Meetup, arguably the earliest congregation of blockchain evangelists and crypto enthusiasts in Taiwan, began. And just for reference, Bitcoin’s price hadn’t even crossed US$250 at this point.

The Taipei Ethereum Meetup wouldn’t come into existence until two years later on October 13, 2015 – just a few months after Ethereum’s mainnet went live. Fast forward to today, the group now boasts of 1,935 members, along with representations from major blockchain foundations like Eos, Nem, Iota, Cardano, and Neo.

Overall, an end-to-end ecosystem that extends far beyond just blockchain fanatics and hardcore developers has now emerged in Taiwan.

Block by block

We’ve witnessed a swell of companies and decentralized organizations focusing not only on a whole suite of different applications from healthcare to gaming and entertainment, but also on a spectrum of underlying infrastructure to support them.

Projects like Muzeum and Contentos are tailoring their protocols to the needs of specific segments, in this case creatives and content creators, respectively. Dexon, which is initiated by the team behind crypto exchange Cobinhood, is looking to create a new home for decentralized application (DApp) makers through the allure of its permissionless, infinitely scalable distributed ledger technology.

blockchain-ecosystem-taiwan

This was produced by AppWorks in conjunction with local blockchain media Blockcast. Apart from conducting primary research, we used information from our own respective networks, communities, and investment partners, and pored through local and international news. The map will be updated every quarter to adequately capture the sheer pace at which the industry is evolving.

In line with global trends, several local and international crypto exchanges have emerged to serve the growing trading volumes of digital currencies.

Homegrown exchanges such as BitoEX, Joyso, and MaiCoin are leading the charge on the domestic front, offering their unique value proposition to woo traders and users alike. For example, BitoEX, the creator of crypto trading platform BitoPro, has partnered over 3,000 convenience stores in Taiwan, allowing customers to seamlessly purchase crypto with fiat currency.

While many were fighting tooth and nail to get ahead in the gold rush, some innovators have opted to supply the picks and shovels instead to fuel the race. Established in 2014, CoolBitX created a credit card-sized hardware wallet for storing cryptocurrencies. It connects to any iOS and Android smartphones via bluetooth. To date, CoolBitX has sold 100,000 wallets worldwide.

Formosa Financial, on the other hand, has created a one-stop online shop to manage digital assets. It aims to help bridge the gap between the many financial products offered by traditional banks and the ones currently available in the crypto space.

Pillars for funding, legal advisory, community building, education, and, of course, the media have also propped up to support the industry’s evolution. Accelerators like MOX and our very own AppWorks have constructed programs to specifically cultivate the development of blockchain founders and create a supportive environment to fast-track growth.

Seventy percent of the organizations on the map were actually established in the past two years. Unsurprisingly, we saw the biggest growth – 271 percent – in the number of blockchain-focused companies in 2017, where year-end crypto prices reached astronomical heights.

The hysteria has since dissipated, and the majority of cryptocurrencies have now dropped 90 percent below their all-time highs, leaving in its wake a cold, brittle winter that will likely see a dearth of new projects starting in the next few years – at least compared to the feeding frenzy that we saw in 2017.

History in the making

Despite the slump, the core building blocks of Taiwan’s blockchain industry are holding fast.

Interest and enthusiasm in the underlying technology are still strong among the country’s developer community and overall talent pool. Popular local job website 104 has dozens of domestic and international enterprises collectively posting nearly 300 open blockchain-related roles, showing a huge growth compared to the few openings available in early 2017.

Moreover, the atmosphere at the top remains cautious but optimistic. The Financial Supervisory Commission (FSC) is set to release definitive guidelines for initial coin offerings/security token offerings by mid-2019. It’s likely to inherit a similar stance as the Securities and Exchange Commission in the US to treat most, if not all, ICOs as security offerings.

Although regulators maintain a hardened stance on fraud prevention and anti-money laundering measures, the FSC has stated that it has “no intention of curbing the creativity and productivity associated with cryptocurrencies if they are not used as securities.”

Blockchain might be starting to slip out of mainstream fashion, but that’s not necessarily a bad thing. With distractions like hype and price out of the way, developers can now get some serious work done under the hood.

There’s still a lot of progress to be made surrounding issues like privacy, security, scaling, interoperability, and usability. If these concerns are left unsolved, they will only impede the technology’s widespread commercial implementation.

Looking ahead in 2019

With the crypto markets finally cooling down, we don’t anticipate much activity in the space in 2019 – at least as it relates to the birth of new projects.

Undercapitalized startups and those that missed the ICO boom will likely struggle to make ends meet. And those left standing will be battening down the hatches, cutting off excess fat, and increasingly turning back towards conventional financing channels (i.e. VCs/banks) to ride out the bear market.

Taiwan’s investor landscape has responded accordingly, with VC firms such as IVP, CDIB Capital, and WI Harper already started investing in blockchain/crypto startups.

In light of these market conditions, we will see a lot of international and domestic blockchain/crypto startups across the value chain displaying a newfound interest in Taiwan as a source of affordable but no less qualified talent. Where Taiwan has been traditionally overlooked for its economic brawn, it will now make up for with brains – cost-efficient brains, to be exact.

The island’s technological sophistication and favorable corresponding operating costs will also serve to optimize companies’ bottom lines, especially those working at the infrastructure level like mining and protocol development.

Although we’re unlikely to see many – if any – commercial implementations this year, DApp development will continue at a moderately healthy pace, particularly as Taiwanese decision-makers begin to solidify their stance in blockchain and release definitive regulatory guidance on ICO/STOs.

Taiwan is also among only a handful of markets around the world to have created a fintech regulatory sandbox. That means blockchain/crypto startups have a much more forthcoming environment to experiment with and find market validation without the burden of potential legal consequences.

*This post is credited to Techinasia

Blockchain technology has been challenging norms and pushing boundaries since its inception, and 2018 was no different. We saw a selection of projects on bleeding-edge frontiers, unlocking ideas that didn’t previously exist and actions that simply weren’t possible before.

This struck me personally. When I got into the space, I was not only fascinated by the technological challenges, but also ideologically drawn to these big ideas of transformative change. This wasn’t merely a subfield of computer science, but a generational movement.

Throughout all of this, however, it’s crucial to step back and also consider the wider implications of what we’re building. More and more we’re asking, who can really benefit from these technologies? Who are we building this future for? And more often than not, these potential user groups come from all walks of life.

This makes sense. This space is driven by an ethos to enable individuals to take actions they weren’t able to before, to allow for global governance based freedoms and financial autonomy, to build in choices where there may have only been a single, monopolistic option

We are still so early in this process of understanding the best ways to deploy these technologies to positively affect different groups. The thing is, we’ll never get there if we build in silos.

If we want this technology to make up our financial and governance based futures, it is crucial that those building these technologies are representative of the global, diverse population which they are to serve.

Recognizing the problem

However, the diversity gap in tech is widespread. And that doesn’t exclude this space. It’s important to recognize this and to take tangible steps towards closing the gap.

Consistent reminders to take actionable measures are important. Take this as another – what can you do in your community or workplace to break down barriers, to educate, to foster growth?

Going a step further, a vast majority of the population doesn’t understand blockchain technology.

Now, we’re still early, but if this technology is to reach a place where it can be impactful on this scale, it’s crucial to bring more people in and to build real understanding. And this isn’t just technologists, it’s necessary for lawyers, designers, economists, policymakers and more to be well informed and deeply engaged.

The cool thing about this space, though, is that because it’s still in its infancy, we have the opportunity to set a precedent right now, to build in diversity and inclusion as a priority and value from the very beginning. And there are people doing amazing work while also actively prioritizing these values.

But we still have a ways to go. We can do better. We can set a different set of norms if we consciously make an effort.

A firmer resolve

A key blocker on both fronts is the high barrier to entry. Sometimes we want to abstract away “the blockchain,” but if we want global participation in governance processes and contribution to projects, it’s necessary to build bridges and welcome members with open arms.

In order to reduce barriers, we can prioritize beginner friendly resources, use helpful abstractions and clear communication, consciously document our open-source projects in an understandable manner, collaborate to discuss standards, and more.

It starts with building a culture, in workplaces, that fosters mentorship and education. We can think about where we make decisions and discuss issues. If we want people to participate, are they even aware? If so, how can we bring them in? Passively hoping populations who aren’t contributing will somehow join in won’t work.

We need to make it easy, reach out, and be encouraging and welcoming. We need to collaborate and share what we’re doing in our workplaces and communities to empower others and hopefully inspire more people to do the same.

Just as important as laying the foundations for the next generation of these technologies, are the people laying these foundations. Let’s keep the conversation going. Let’s take action.

*This post is credited to Coindesk

South Korea’s government has added blockchain to the fields of research and development eligible for a tax credit meant to boost innovation, English-language local media TheNews.Asia reports on Jan. 8.

The local Ministry of Strategy and Finance announced the proposed changes to the enforcement decree of last year’s tax law, which will be enforced in February. The proposed amendments also include among the eligible fields wearable robots and fine dust reduction technology.

According to the aforementioned article, a result of this amendment will be that 30 to 40 percent of the research and development expenses of small enterprises and 20 to 30 of large and medium-sized enterprises will be tax deductible.

Currently, the research and development tax deduction rate for large corporations reportedly ranges from 0 to 2 percent, 8 to 15 percent for medium companies and 25 percent for small enterprises.

As Cointelegraph recently reported, some of South Korea’s biggest cryptocurrency exchanges have passed a government security audit, but the majority could still be exposed to attacks.

Also, in December of last year, Cointelegraph reportedthat two South Korean government ministries have launched a blockchain pilot for port logistics innovation.

*This post is credited to CoinTelegraph

There are many regions of the world that are interested in attracting blockchain startups in order to revitalize their local economies. For example, the city of Cleveland is attempting to rebrand as “Blockland” to attract blockchain entrepreneurs, and its state, Ohio, now allows business to pay certain taxes in cryptocurrency.

It appears as though another state is making it clear that it wants to foster blockchain innovation, and that state is Washington. The state already has a history of dealing with crypto mining companies, which might provide some unique advantages over other states, as well. Specifically, Washington wants to build a “blockchain innovation campus”.

Why Washington?

Washington has also attracted many crypto mining companies and individuals for one very particular reason. The state boasts some very cheap hydroelectric-powered electricity, that allows for miners to mine for Bitcoin and other cryptocurrency without having to spend much more money that they would in other states.

Despite the fact that many crypto miners have lost faith in the industry thanks to the bearish markets of 2018 – there are many that still believe in the sector. One notable proponent is Lisa Parks, who also happens to be the executive director of the Port of Douglas County. Parks states: “There is more to the (cryptocurrency story) than boom and bust.” The county is putting their money where their mouth is, as well, offering $50,000 to help build out the campus.

Previous Activity

While the future might be promising in Washington – there have been companies that have folded in the area. Most famously, Giga Watt, described by media as a “Bitcoin (BTC) pioneer” actually filed for bankruptcy in November 2018, owing the same county – Douglas County – over $300,000.

However, others see opportunity. The world’s largest bitcoin mining producer, Bitmain, opened a $20 million facility in Douglas County the same month that Gigawatt filed for bankruptcy. The amount of power associated with the facility could potentially power thousands of homes.

*This post is credited to CryptoCoinSpy