Singaporeans Turn to Bitcoin Mining

Many Singaporeans have recently caught up with the Bitcoin craze, causing a rash increase in demand for mining rig and graphics cards in the country.
16 November 2017   1220

According to Channel News Asia  one Singapore-based mining rig manufacturer has experienced a sharp increase in sales in recent months as the demand for cryptocurrency mining computers has grew up to more than 100 rigs per month as of November 2017 from about 15 in July.

However, the demand is not limited on rigs alone. In fact, cryptocurrency exchanges such as Coinhako and Quoine have both experienced double-digit growth in the demand for cryptocurrencies since the beginning of this year.

The influx of new investors has consequently helped pull the Bitcoin price as it increases between $6,000 and $7,000 in mid-November 2017 from around $1,000 in January.

With such promising growth, a lot of people have turned to mining to make a passive income and take part in the cryptocurrency market with the growth rates showing no signs of slowing down.

 

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   118

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.