Blockchain Phoenix

1.

Recently, MIT announced that it will launch MIT financial technology laboratory with several top technology companies in the world on July 18, 2018. Its main research directions include blockchain development, privacy security, database, encryption system, etc. ant financial is the only Chinese founder

In an exclusive interview with people, Jiang Guofei, director of ant technology laboratory, said that the former NEC technology VP, who has been wandering in Tokyo Bay and New York Bay for the past 15 years, said that China and the United States are almost on the same starting line in the independent research and development of Frontier core technologies such as blockchain, This is a sight that has never been seen before“ Whether it is Tokyo Bay, New York Bay or San Francisco Bay, they all rise in the blowout of Japan and the United States' comprehensive national strength. Now it's time to go to China, so I'm back. "

content source: phoenix.com

2.

Blockchain is a new technology, not a disguised form of MLM. It is just claimed by many MLM organizations as "blockchain". In fact, there is no technology. It's just a practice of MLM under the name of "blockchain". The state has issued several announcements to crack down on this kind of MLM. The following is the Xinhua news report on MLM of blockchain:

blockchain is not equal to virtual currency, but also has security risks. Behind the popularity, there is exaggeration with "ulterior motives". Only by removing the flashiness, can the blockchain return to its real application value

invest 80000 yuan, change to 800000 yuan after three months? Shenzhen police cracked a huge fund-raising fraud. Under the guise of blockchain concept and 10 times income, thousands of investors were deeply involved in the case, involving up to 307 million yuan. Under the "veil of mystery" of the blockchain, the illegal elements have taken advantage of their own tricks, and the blockchain has become a "signboard" of economic crimes such as fraud and pyramid selling

why is the blockchain repeatedly "misused" by illegal activities such as pyramid selling fraud? In addition to "unknown", what is the "function" of blockchain technology itself? Since the beginning of this year, with the increase of supervision and the cooling of currency speculation, new opportunities have been brought to the development of blockchain. How about the implementation of blockchain commercial "application" The reporter of outlook news weekly recently concted an investigation

when the three-month "capital release period" promised by the trading platform expired and the staff began to "kick" in the QQ group, Tang Haiyan, who lives in Bao'an District of Shenzhen City, realized that she might have been cheated

previously, Tang Haiyan invested 80000 yuan to buy a virtual currency called "ordinary silver coin" under the introction of her classmates“ The other side said that this currency is the most advanced blockchain technology at present, with Tibetan tea as collateral. He also showed me the "technical white paper". I didn't understand blockchain, so I didn't read it carefully. "

although she doesn't know about blockchain and virtual currency, the high investment income makes Tang Haiyan full of expectations. She told reporters that companies issuing "ordinary silver coins" will regularly split the virtual currency according to the ratio of 1:10, which means that each split will make the value of "ordinary silver coins" in the hands of investors expand 10 times. As long as after a split, her investment of 80000 yuan is equivalent to the purchase of 800000 yuan worth of "ordinary silver coins", which can be sold on the trading platform to obtain huge profits

according to the rules of the trading platform, the newly purchased "ordinary silver coin" cannot be traded immediately, and it must be frozen on the platform for three months before it can enter the "release period". However, after three months, not only did Tang Haiyan not wait for the assets to double, but the 80000 yuan frozen on the platform could not be used for trading

"other investors began to question the authenticity of this investment in QQ group. As a result, the staff of the company kicked these investors out one by one, which made me feel bad." She said

The fact also proves Tang HaiYan's intuition. At the end of March 2018, Shenzhen police detected a huge fund-raising fraud, with the amount of fraud funds as high as 307 million yuan. In this case, Shenzhen Puyin blockchain Group Co., Ltd. involved in the case issued virtual currency in the mode of "blockchain + Tibetan tea" to obtain public deposits. Tang Haiyan was one of the thousands of victims

Shenzhen police investigation found that the company claimed that investors could buy and sell "ordinary silver coins" on the virtual trading platform "jucoin net" to earn a price difference

. In fact, the change of its trading price is that the company used investors' investment funds for behind the scenes operation, and once raised the price of "ordinary silver coin" from 0.5 yuan to 10 yuan, so that investors can taste some sweetness. When a large number of investors entered the market, the company continued to cash out through malicious manipulation of the price trend of "ordinary silver coin", which eventually led to the worthlessness of "ordinary silver coin" in the hands of investors

since 2018, engaging in fraud and pyramid selling under the banner of blockchain has become a common "routine" in new criminal tactics. In April 2018, Jinan police dropped a pyramid selling Gang under the guise of "western development", "national poverty alleviation", "original stocks", "blockchain" and "e-commerce", arrested more than 10 major suspects, frozen more than 100 accounts involved, and seized more than 300 million yuan of funds involved

according to Jinan police, huileyi e-commerce company designed a fake virtual disk on the Internet on the ground that the country is vigorously developing the big data instry, and released a variety of virtual currencies such as "precious currency" and "precious currency"

under the guise of giving away, they presented a certain amount of virtual currency to the New MLM staff, with the price of tens of yuan each. Then, through artificial manipulation, they appreciated the virtual currency all the way to more than 100 yuan or even hundreds of yuan, attracting people who did not know the truth to join. Finally, they "cut leeks" through the periodic fluctuation of the so-called "devaluation" of virtual currency, Finally, the purpose of seeking illegal interests is achieved

in Xi'an, a few days ago, the local police successfully cracked a huge network pyramid selling case under the banner of blockchain. According to the police, the suspect, Zheng Mou, has paid a high salary to the 9 network members, such as Zhang and Lee. Since March 28, 2018, he has gathered pyramid selling and network pyramid selling as a means to sell the virtual Datang coins at the consumption era network platform at the price of 3 yuan each, and manipulate the appreciation rate; p>

at the same time, promotion meetings were held in many cities at home and abroad to attract members. According to the development of members, 28 level agents were set up. In just 18 days, the gang developed more than 13000 registered members. At present, it has been found that the case involves 31 provinces, cities and autonomous regions in China, and the fund involved is as high as 86 million yuan

according to Tencent's 2017 pyramid selling situation awareness white paper released by Tencent security joint laboratory, in recent years, all kinds of overseas capital disk, virtual currency and ICO (initial public offering token financing of blockchain project) projects have emerged in an endless stream, which hide many risks such as illegal issuance, untrue projects, cross-border money laundering, fraud and pyramid selling, As a result, a large number of funds flow overseas. Once the market collapses, runs away or loses contact, investors often have no way to complain and the losses are difficult to recover. For example, Baichuan coin, mark coin, beta coin, dark coin, etc

the reporter of lookout Newsweek interviewed in Guangdong, Shandong, Shanghai and other places and learned that most people know that the concept of blockchain is very popular, but they "don't know where it is", and there are different opinions on the specific functions of blockchain: some people think it is used for "investment and financing", "buying and selling currency", while others think it is "a major invention of the same magnitude as the steam engine", Some entrepreneurs are even more eager to seize this "once-in-a-lifetime opportunity to get rich."

many people in the instry said that it is precisely because people have many misunderstandings about blockchain that criminals have opportunities to fish in troubled waters and mislead investors

First, blockchain is not equal to virtual currency. By the end of last year, the number of domestic ICO participants and the total volume of transactions have doubled, a large number of digital currency exchanges have fled overseas, and the agent investment mode has involved more ordinary people in high-risk investment

in many instries, we media and celebrities form interest alliances with issuers and digital exchanges to endorse and create public opinion for the "air currency" project. In December last year, nine departments including the people's Bank of China identified ICO as "suspected of illegal fund-raising, financial fraud, pyramid selling and other illegal and criminal activities"

in the interview, many people told our reporter that the existence of token has built a set of rights and interests mechanism for the development of blockchain technology, which is indispensable for stimulating the prosperity of blockchain applications“ The market practice in the past five years has proved that blockchain applications without equity mechanism are just like market economy without computers connected to the Internet and money, with greatly reced application scenarios and development speed. " An investor in Shanghai said

in fact, the token represented by bitcoin is only one of the earliest procts to verify the blockchain technology, and the two can not be equated, and the existence of token has obviously negative effects on the development of blockchain

Xiao Wei, chief engineer of network blockchain, told this reporter that the myth of ICO's sudden wealth shakes the R & D concentration of blockchain technical talents, and the myth of "sudden wealth" with hundreds of times of return tests the patience of blockchain technical R & D talents“ Many of the "comrades in arms" in the circle who used to do research and development of blockchain technology have gone to issue coins, and now few of them can insist on doing research and development and application of technology. "

Xu zewei, Secretary of the Party committee of Beijing Internet Finance Instry Association, said that under the background of China's ban on ICO, many domestic start-ups promoting blockchain applications are "selling dog meat with sheep's pawn" and financing through concept packaging of worthless tokens“ ICO has polluted the good atmosphere of innovation and entrepreneurship, and created a kind of speculative proct. Many young people are not thinking about entrepreneurship, but are thinking about issuing money, which makes us have the illusion of getting rich overnight. "

at present, more and more people in the instry begin to think about whether the development of blockchain must rely on the issuance of tokens to achieve incentives. Guo Dagang, Secretary General of Beijing Internet Finance Instry Association, told this reporter that the so-called incentive mechanism is only the theoretical basis for the project party to issue tokens for itself. Huo Xuewen, director of Beijing Municipal Bureau of financial work, also believes that if blockchain does not get rid of the dilemma of issuing currency, it will never find a legal landing mechanism

secondly, blockchain is not omnipotent and its security is at risk. Blockchain is generally considered to achieve three functions:

first, the data stored on the blockchain can not be tampered or forged, and the data has high credibility and credibility; Second, the whole process of the transaction can be traced, which can achieve accurate responsibility tracking; Third, the embedded smart contract in the blockchain can be executed automatically based on the contract, so as to improve work efficiency and rece the risk of default. It is generally believed that blockchain has broad application prospects in finance, logistics, trade and other fields

in fact, blockchain is not omnipotent, and its function has many limitations. It is generally believed that, according to the characteristics of cryptography, in order to tamper or falsify in the blockchain, more than 51% of the nodes need to be controlled in theory. When there are enough nodes in the blockchain, it is difficult to tamper with the trust creation mechanism widely participated by the public

However, in reality, digital currency exchanges are frequently attacked or even stolen. On June 20, 2018, bithumb exchange of South Korea announced on its official website that the exchange had been attacked by hackers and stolen 35 billion won, about 32 million US dollars of cryptocurrency

Ji Xinhua, known as the first generation of "hackers" in China, said that the blockchain will continue to face attacks, and the process of uploading data to the blockchain is prone to information leakage. Some people in the instry worry that once the super computing power of quantum computing is realized, it will also have a direct impact on the blockchain

Zhao Yao, a special researcher of the Institute of finance of the Chinese Academy of Social Sciences, told this reporter that the academic community has confirmed as early as 2013 that the blockchain is not perfect and there are many "cheating" strategies. As long as there are enough economic incentives, controlling attacks of more than 51% nodes does not only exist in theory

Zeng Guang, Secretary General of Shenzhen Internet Finance Association, said that the blockchain technology itself does not have the ability to do so

3.

Fried coins or something

at present, the application of blockchain technology is virtual currency. Therefore, virtual currency is also known as the first real birth proct of blockchain. The popularity of virtual currency is also obvious to all, which has set off a frenzy of investment in many countries. According to foreign media reports, the number of virtual currency transactions in the United States has reached 5 million; South Korea is estimated to be the craziest nation in the world, with one in every 50 people speculating, and 31% of the working class buying and selling virtual currency; Venezuela has also issued the world's first virtual currency with the nature of national sovereignty - oil currency

with the popularity of virtual currency, market investors are not only satisfied with the conventional trading mode of buying low and selling high, but also actively seek more simple and convenient trading ways to obtain more profits. The virtual currency trend trading method was born and successfully captured the hearts of investors in a short time, becoming a major mainstream trading mode

according to

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, the trend trading method of virtual currency is exclusively launched by speedxo, an international financial service provider with deep experience. It mainly deals with the currency pair composed of virtual currency and real currency, and it can make profits as long as it is bullish or bearish. For example, if an investor trades in "bitcoin / US dollar", he or she only needs to judge whether the price will rise or fall after 30 seconds, and buy up or down according to the trend. If he or she buys in the right direction after 30 seconds, he or she can get 93% of the net income of the investment amount. It is this kind of rise and fall are profitable, time-consuming, no need to take advantage of the market, the trend trading method quickly swept the entire currency circle

4.

Shenzhen's IT leaders summit has come to its 10th year. As the annual program of China's Internet giants gathering in Shenzhen, Shenzhen and its star enterprise Tencent are trying their best to entertain those bigwigs who come from afar

Zhang Shousheng, Professor of Stanford University, USA:

the generation of blockchain can create a data market. In my mind, the ideal future world is that everyone has their own data, which is a completely decentralized storage. In this way, it is impossible for hackers to hack everyone's personal data and then use some encryption algorithms, In the blockchain, it can really protect personal privacy and make very good calculation

artificial intelligence needs data, but data is often monopolized by centralized platforms, which hinders innovation. Encryption economics creates a data market with correct incentive mechanism for data providers, and artificial intelligence can take off on this data market. In a fair data market, the value of data is measured by cross entropy. In our society, some minorities will be discriminated against. However, in the encrypted data market, the data they provide will receive the most attention. Encryption economics can offset all kinds of prejudices in current social economics

Ni Zhengdong, founder and chairman of Qingke group:

blockchain is a direction of technology. Technically speaking, how much value blockchain can have is still a question mark, which may have great value, but today, the application has not been implemented. We don't deny the value brought by blockchain. In terms of technology, I think it is very valuable and promising, but no one can know how big the prospect is

in the financial field, blockchain is absolutely subject to supervision and is not a free world. Political orientation should be correct. In the field of blockchain, we should adhere to the leadership of the party and accept supervision. Digital currency can not be anarchism, it needs the correct guidance and supervision of the government

now we all focus on the real economy, whether it's entrepreneurship or investment. I think the blockchain itself should create value. If a company issues a coin and doesn't know what to do, it will suddenly be worth tens of billions of dollars, which is completely divorced from value creation

as for the title of classical investors, it's just a joke, or to grab an eye and create some concepts. I believe that 99% of the projects or 95% of the projects will be done by classical VC in 2018

Yan Yan, founding partner of Saifu Asia Investment Fund:

blockchain is very popular, but in fact, institutional investors participate very little. At present, many of them are indivial behaviors. More than 95% of ICO in China is money making, and the really large first-line institutional investors actually participate very little. To be honest, these people can become first-line institutional investors. They are not fooled. They know more than you, see more than you, and read more books than you. How can they be so stupid? They make money from people with lower IQ than you

Wu Ying, chairman of the digital China Federation:

pays close attention to the blockchain and has made a certain investment layout here. Among the three or four companies invested, there are 13 patents. Among the listed companies previously invested, 2 are doing blockchain business. However, it will take some time for blockchain to break out. On the whole, it will take about three years for blockchain to have a direct impact on the economy, but it may be faster than the United States in some aspects. Focus on the application of right protection of works of art, and set up an angel fund to invest in blockchain in the future

talk about big data: the obstacle of data exchange lies in the system rather than technology

Wang Jian, chairman of Technical Committee of Alibaba Group:

data is the material basis of digital economy. Data can neither be shared nor opened, but the value of data can be shared. Uber and didi are great changes in human behavior. What have they changed? In fact, Uber and didi are not sharing cars. In the past, they came out from home in the morning to tell their parents where to go. But with Uber and Didi, you can actually share with a company about where to go today. This is the real change

Guo Wei, chairman of the board of directors and chairman of Digital China Holdings Co., Ltd.

from the perspective of the government, he highly recognizes the value of data, but it is very difficult to implement it. Data itself has a natural segmentation, different people have different cognition of data. Another very important point is the division of interests. Due to the huge benefits brought by mastering the data, some people are not willing to release them. If released, it means the loss of privileges, which is the most difficult part in the process of data access today

from the perspective of today's technology, there is no problem to achieve data access with our technical ability, whether it is traditional technology or the latest developed technology. But the most important obstacle is the system

Yan Yan, founding managing partner of Saifu Asia Investment Fund:

the opening of data is a double-edged sword, and social data should not be open to everyone, because data is useless to more than 95% of people, and there are less than 1% of people, so it is harmful to the society to give them data

5.

Blockchain itself is not illegal, but if it is used illegally, it is illegal

Li Bin, deputy director of Chongqing big data application and development administration, said that as a disruptive innovative frontier technology in the field of big data intelligence, the Chongqing municipal government attaches great importance to active layout, and the municipal government and Yuzhong District Government jointly build a blockchain base. In the second half of last year, the government issued the opinions on accelerating the cultivation and innovative application of blockchain instry, It has officially launched the construction of a place for strategic innovation of blockchain

while actively encouraging the technological progress and instrial development of blockchain, we will resolutely prohibit the illegal use of blockchain technology in accordance with the requirements of relevant national policies

at present, China's blockchain technology and application continue to innovate, and are graally applied in supply chain finance, credit reference, proct traceability and other fields, with huge development space. As a new technology, if blockchain wants to realize large-scale practical application, it must strengthen the cooperation of instry, University, research and application, and promote the continuous development and maturity of technology and application

since 2017, the development of blockchain technology has aroused the deep concern of the government, enterprises and other sectors. Because of its decentralized, tamperable and traceable characteristics, blockchain attracts investors to add weight to this new technology field. For the previous hot speculation of blockchain technology, the cognition of it and investment circles has become increasingly rational

extended data

"Regulations on the management of blockchain information services (Draft)"

Article 9 blockchain information service providers and users shall not use blockchain information services to engage in activities that are prohibited by laws and regulations, such as endangering national security, disrupting social order, and infringing the legitimate rights and interests of others, and shall not use blockchain information services to proce and use blockchain information services Copy, publish and disseminate information prohibited by laws and regulations

Article 13 a blockchain information service provider shall, as the case may be, take such measures as warning, limiting functions, closing account numbers, etc. for users of blockchain information services who violate laws, regulations and service agreements, so as to timely eliminate illegal information, prevent information diffusion, keep relevant records, and report to relevant competent authorities

Article 18 If a blockchain information service provider, in violation of the provisions of Article 9 of these Provisions, makes, copies, publishes and disseminates information content prohibited by laws, regulations and relevant national regulations, the Internet Information Office of the state, provinces, autonomous regions and municipalities directly under the central government shall give a warning and order it to correct within a time limit according to law

if the circumstances are serious or refuse to correct, the service shall be ordered to suspend, and a fine of not less than 5000 yuan but not more than 30000 yuan shall be imposed, until the relevant departments close the service according to law. If a crime is constituted, criminal responsibility shall be investigated according to law

If a blockchain information service user violates the provisions of Article 9 of these provisions and makes, copies, publishes and disseminates information content prohibited by laws and regulations and relevant national regulations, the Internet Information Office of the state, provinces, autonomous regions and municipalities directly under the central government shall deal with it in accordance with relevant laws and administrative regulations

Article 19 If a blockchain information service provider violates the provisions of Article 6 of these provisions and fails to mark its record number on its network platform, the Internet Information Office of the state, provinces, autonomous regions and municipalities directly under the central government shall order it to make corrections within a time limit according to its ties, and if it refuses to make corrections, it shall be given a warning and fined not less than 5000 yuan but not more than 10000 yuan

Article 20 If a blockchain information service provider violates the provisions of paragraph 1 of Article 4 of these provisions and fails to go through the filing proceres in accordance with these Provisions, the Internet Information Office of the state, provinces, autonomous regions and municipalities directly under the central government shall order it to make corrections within a time limit according to its ties, and if it refuses to make corrections or if the circumstances are serious, it shall be given a warning and fined not less than 10000 yuan but not more than 30000 yuan

Article 21 if the blockchain information service provided by the blockchain information service provider has potential information security risks, the Internet Information Office of the state, provinces, autonomous regions and municipalities directly under the central government shall, according to its ties, order it to rectify and suspend the service within a time limit, and continue to provide information services until it meets the relevant requirements of laws and regulations and national mandatory standards after rectification

if the blockchain information service provider violates the provisions of Article 4, paragraph 2, Article 8, Article 11, Article 12, Article 15 and Article 16 of these Provisions, the state and local Internet Information Office shall give a warning and order it to correct within a time limit according to its ties; If the circumstances are serious or if he refuses to make corrections, he shall be ordered to suspend service and be fined not less than 5000 yuan but not more than 30000 yuan; If a crime is constituted, criminal responsibility shall be investigated according to law

if the blockchain information service provider violates the provisions of Articles 10, 13 and 14 of these Provisions, it shall be handled by the Internet Information Office of the state, provinces, autonomous regions and municipalities directly under the central government in accordance with the provisions of the network security law of the people's Republic of China

6.

According to experts, blockchain can be understood as a distributed public ledger, which is connected by various blocks into a chain. In the traditional bookkeeping system, the bookkeeping right is controlled by the central server

on the "account book" of blockchain, every point in the chain can record information on it, forming a point-to-point accounting system. Therefore, blockchain technology is considered as a decentralized technology

For example, in a village of 100 people, Zhang San bought a cow from Li Si and paid him 10000 yuan. In the past, he had to rely on Zhao Liu, a middleman, to transfer his 10000 yuan to Li Si

with the blockchain system, Zhang San can directly record his 10000 yuan to Li Si's account book, and the transaction information will be transmitted to the whole village, that is, the whole blockchain system, so that other 98 people can see the information. The whole transaction process is recorded by the system, which has the advantage of traceability to prevent the loss of Zhao Liu's account book or Li Si's denial of account

extended data

in 2008, Nakamoto first proposed the concept of blockchain. In the following years, blockchain became the core component of electronic currency bitcoin: as a public account book for all transactions. By using peer-to-peer network and distributed timestamp server, the blockchain database can be managed independently

the blockchain invented for bitcoin makes it the first digital currency to solve the problem of repeated consumption. The design of bitcoin has become a source of inspiration for other applications

7.

Load the coin and go overseas! Over the past few months, this seems to be the most popular topic among the smart minds in the currency circle

indeed, after the relevant ban, the innovators of the currency circle began to participate in the research of "currency" trading and "agent investment and private placement" and other hedging means, and made great achievements. However, this has not restrained the pace of many exchanges and money circle tycoons moving overseas, and the Machiya houses in Kyoto, Japan, and the cryptocurrency company registration applications in Minsk (the capital of Belarus) have also gone up

It's just that what's going up in Kyoto is the local house price (including the price of a big guy's house); And Minsk rises, it is its high-tech park (HTP) the intermediary company that agent registers offers

as soon as anything gets hot, the cost of all aspects will increase. So more intelligent people began to focus on Africa, an ancient and mysterious land

As one of the cradles of ancient human beings and civilizations in the world, Africa is also plagued by poverty and backwardness. Recently, this piece of land is being regarded as "the next blockchain center" by more people in the monetary circle. Many investors and entrepreneurs begin to shout, "blockchain related enterprises are constantly emerging here, and Africa, which is quite different from the traditional impression, may soon appear in front of people."

people always believe what they want to believe, even ignore the facts. From the current point of view, Africa should have a long way to go from the title of "blockchain center". If you want to go gold panning, you must think twice

we analyze it from four aspects:

the concept of management department is rigid

Cape Town is the second largest city in South Africa, which is famous for its beautiful natural landscape and wharf

just recently, a "blockchain Research Institute" was quietly established in Cape Town. According to media reports, the blockchain research institute does not do academic research. Its main work is to provide training services related to blockchain technology to some local start-ups. According to its insiders, they not only provide training services, but also provide blockchain consulting services to enterprises

in addition, the blockchain Research Institute has also carried out close cooperation with local financial institutions, including the Bank of Africa, Standard Bank of South Africa, etc. Interestingly, some managers of these banks have received relevant training in the "blockchain Research Institute"

in fact, this blockchain Research Institute is a very common ecational institution, and it is profitable. Its teaching ability is questionable. More importantly, there is no university offering blockchain related courses on the African continent, and there is no corresponding supply of blockchain talents. The vast majority of the people still know little about blockchain

in developed countries, blockchain courses have been implemented in Colleges and universities. According to incomplete statistics, dozens of universities such as Princeton University, Tsinghua University, Stanford University, Copenhagen University, MIT, Imperial University of London, Cambridge University and New York University have offered blockchain courses

if ecation can't keep up with it and there is no large supply of talents, the construction of instry will be inadequate. For the road of blockchain in the African continent, talent is a top priority

worrying about infrastructure

when it comes to blockchain, mining is an inevitable topic. Mining requires a lot of power consumption. The S9 miner usually consumes 1350 watts of power ring operation, which is equivalent to exhausting the life of a hair dryer

However, the price of electricity varies from country to country e to different factors, including local natural conditions, development level of proctivity and relevant welfare policies

according to a research result of an organization, the cost of mining in Africa is the lowest, and the average cost of digging out a bitcoin is $4626. The rest were South America (US $5456), Middle East (US $6249), Asia (US $6378) and Europe (US $6695)

does this mean that digital currency mining can be carried out on a large scale in Africa

The Research Report "people, power, planet" released by the African development group tells us the answer from the side: in Africa, one out of every three people has no electricity. According to the total population of Africa, about 621 million Africans have no electricity. According to its development trend, it will not be until 2080 for Africa to realize the power popularization of the whole continent. In terms of grid capacity, sub Saharan Africa is about 90 megawatts, which is even lower than South Korea, which has a fifth of its population

although the electricity price is cheap, the future of blockchain's large-scale implementation is unknown when the backward infrastructure has not completely rid the public of the problem of power shortage

content source: Phoenix Technology