Hydro Quebec May Sell 500 MW to Miners

New  plan may allow lifting the moratorium on issuing permits for cryptocurrency mining
25 June 2018   419

The state-owned energy company Hydro Quebec has submitted a plan to the authorities of the Canadian province of Quebec, which will determine the procedure for operatng with local miners. This is reported by CoinDesk.

In particular, the plan will allow lifting the moratorium on issuing permits for cryptocurrency mining, created in connection with the "unprecedented" level of demand for electricity in the province.

If the plan is approved, the amount of energy that crypto minners can use within a year will be limited. According to the authorities, this will free up energy resources for other clients of the company. In total, according to the plan, the miners will receive 500 mW of electricity per month.

Hydro Quebec will select miners who will be permitted to work in the province, assessing their ability to create new jobs and contribute to the economy of Quebec.

The economic analysis will favor customers who will be ready to operate their facilities as quickly as possible. In addition, Hydro-Québec could request that these customers decrease their electricity use, for a maximum of 300 hours per year, to allow it to ensure the delivery of electricity to all of its customers, particularly during the winter peak period.
 

Hydro Quebec

Earlier information appeared that the authorities of Quebec could cancel the moratorium on issuing permits for crypto-currency mining and establish higher electricity tariffs for miners

South Korea to Allocate $880M for Tech Including DLT

The goal is to "focus on promoting big data and AI, developing blockchain technology to ensure data management security and boosting the sharing economy"
16 August 2018   99

In 2019, the government of South Korea plans to invest more than $ 880 million in accelerating the development of innovative technologies, such as blockchain, CoinDesk reports.

Deputy Prime Minister Kim Dong Yeon held a ministerial meeting to work out an investment plan for the government to develop innovations for the next five years.

According to the website of the Ministry of Economy and Finance of South Korea, the government allocated 1 trillion won (about 880 million dollars) - 80% more than in 2018 - for the development of technologies like blockchaain, big data and AI in 2019. In addition, the agency said that in the next 5 year total investments of 8-9 billion dollars are planed.

The goal is to "focus on promoting big data and AI, developing blockchain technology to ensure data management security and boosting the sharing economy," the press release said.

The investment plan does not specify how much money will be invested in each of these areas separately. There's no info wether it will be allocated to mining facilities.

Earlier, the Ministry of Information and Communication Technology of South Korea reported that in 2019 will allocate $ 9 million to invest in blockchain start-ups. In addition, in June it became known that the same ministry was cooperating with other state agencies on the development of six pilot programs, within which the block would be used in large government services.