It has long been said that cryptocurrencies that require proof of work are in fact quite the energy-consuming little devils. By one estimate, the amount of energy that goes down in mining Bitcoin, for example, across the globe easily equals the amount of power Denmark needs to feed its electricity needs for an entire year.
Understandably people have been concerned about the prospect in mining Bitcoin and losing money over it. Back in 2010, when the craze around Bitcoin began, many people just shrugged off the utility bill mark.
In fact, many of us even purchased their first rigs (the computer configurations used in mining) without asking ourselves if we [...]
The next hot investment bed for cryptocurrencies may take you by surprise. It is not Asia, but South Africa. Located in the world the world’s youngest continent, the country is now pursuing an unprecedented growth and it will see the majority of its population invest in digital gold. Even though the percent is not overwhelming, at 47%, it is a significant and respectable chunk of young Africans that are interested in pushing ahead with an investment of this stature.
Regulatory concerns have not been sufficient to disperse the enthusiasm of would-be investors. According to MyBroadband 2018 Cryptocurrency Servey conducted and concluded in April, revealed the trend in earnest. [...]
Cryptocurrencies have been among us for a while now. Without any definitive legal guidance, nobody knows what will happen to the future of cryptocurrencies, but it is healthy to stipulate. Several scenarios exist. Cryptocurrencies may stick with us for a while longer, but they will dramatically change their shape. Most experts agree that as they are, cryptocurrencies represent a form of property rather than a meaningful token that you could use to do something practical, such as purchasing groceries.
Many ideas about the future of cryptocurrencies have been put forward. For starters, people should need to utilise the cryptocurrency to specific ends, such as covering bills and [...]
Asia, Blockchain’s Promised Land
The first industrial revolution began in Britain in the late 18th by the automation of the textile industry. The event brought together workers from their cottages and threw them together in the factory of the future. Later, in the 20th century, the assembly line invented by Henry Ford made our consumer society possible by introduce mass production. Now, a third industrial revolution is underway and it radiating from Asia outwards. Manufacturing, business and money transfers are all going digital, and this may change much.
Asia – The Early Adopters
The west tends to look at itself as advance and technologically [...]