Canadian crypto exchange defies fentanyl epidemic

The approach assumes inclusion of more regulations into the platform that is by design anti-regulation
06 March 2018   653

Fentanyl issue became an international epidemic: 66% percent of overdose deaths in the US hold the drug accountable, while in Canada it is responsible for 922 overdose deaths in a year. Fentanyl is a synthetic drug that is 50 times stronger than heroin. Canada based virtual currency exchange Einstein proposes to form an alliance with other startups to establish a watch and maintain a blacklist of the digital wallets that are indicted in dealing with fentanyl and similar activity.

We would do a blacklist of wallets as our giveback [to society].

 

Christine Duhaime

Chief anti-money-laundering officer, Einstein

The initiative is supposed to start in Canada and the US with the perspective of making a global blacklist. Although a success of this enterprise would certainly improve the cryptocurrency overall reputation, Canadian law in particular sees a risk of violating the privacy by enacting such legislation. The idea of compiling a blacklist technically feasible because in most cases fentanyl dealers are not that bright to apply sophisticated anti-tracing methods such as changing wallets or tumbling coins.

Cryptocurrencies need government regulation to deter price manipulation and related wrongs, but the absence of of such regulation is one of the biggest reasons that investors buy into cryptocurrencies in the first place.

 

Michael Gokturk

CEO, Einstein

But unfortunately Einstein is too tiny of a player to tackle this issue solely on its own.

Giant Mining Solar Powered Farm to Created in California

Plouton Mining will allocate solar panels on 49 acres and it's planned they should generate about 10-13 megawatts per day, working for an average of 12 hours
26 June 2019   56

Plouton Mining, a subsidiary of Plouton Group Holding, intends to open the largest Bitcoin farm in North America for mining, whose operations will be provided by solar energy. To this end, the firm chose a territory in the western part of the Mojave Desert, California.

Plouton Mining will place solar panels on 49 acres: they should generate about 10-13 megawatts per day, working for an average of 12 hours. The company stressed that Western Mojave receives sunlight for 70% of the year.

The company will also sign the necessary contracts with local electricity suppliers in order to operate the farm in the absence of solar radiation.

Meanwhile, the bitcoin hashrate has again updated the historical maximum at 66.666 EX / s.