While the outbreak has brought considerable disruption to the international economy, this has also motivated the crypto-mining industry to change a disaster into more of an advantage by setting the pace in supporting openness and freedom of expression in China.
Mining Industry Thrives With Openness
Twelve big Chinese crypto mining companies and prominent Chinese blockchain media organizations came together on April 3 to formally announce an info-sharing network called Pow Power. The firms comprised Canaan, AvalonMiner, Huobi Pool, Inter Hash, OKEx Pool, amongst others.
Official documents from Pow Power suggested that repression was instrumental in triggering the early outbreak in China. Ultimately, clamor for a much more reliable and open mode of communication motivated the mining industry to establish Pow Power.
A clear standard reference index will also be published initially on Pow Power, according to the report. This added:
“The index reference would be focused on market supply and demand, the evaluation of earnings and public sentiment. The supply and demand information for miners and mines will be gathered and periodically released on the “POW POWER” WeChat public forum. “
The report highlighted that issues such as restricted market data and resource scarcity have led many mining companies to find it hard to attract investment and keep operating.
Freedom of Expression and Clamour for Openness
As at the time of writing, China has implemented distributed ledger systems to monitor and register medical supplies, donations to charities and detect the virus outbreak.
Certain measures were also conducted in the wake of China’s coronavirus-related internet surveillance. As reported earlier a Chinese reporter, used the Ethereum blockchain network to circumvent Chinese government restrictions to save online interview information.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.