ViaBTC Closes Crypto Mining Contract Market

ViaBTC is going to close mining contract market in order to control speculation and protect the interests of investors
09 January 2018   1360

ViaBTC, Chinese bitcoin mining pool, has announced on Monday that it will close its marketplace for mining contracts this week, asking all users to finish cloud mining contract trading ASAP.

According to the ViaBTC statement, it would shut down the market — through which users can purchase contracts entitling them to a certain amount of hashing power at UTC time 12:00 January 10th in order to control speculation and protect the interests of investors.

ViaBTC has closed exchange service in September 30th, 2017 in response to a crackdown by Chinese authorities on the country's exchange ecosystem, a process that began just after the beginning of 2016. Officials also moved to prohibit the use of ICOs in September.

The news comes as China announced on January 3 its plans to limit the supply of electricity to the cryptocurrency miners due to abuse the low cost of electricity, which sometimes disrupts the normal mode of using electricity.

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   131

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.