Electricity

Kwhcoin is a blockchain based solution for a cost effective and network incentive based platform to integrate renewable energy and distributed energy resources into the grid. More importantly Kwhcoin team is developing a model to compensate the value of distributed energy resources at the edges of the grid transitioning to an advanced energy network that can be accessed by all with no barriers to inclusion.

Four people have been arrested in Venezuela for using the country’s electricity illegally by mining Bitcoins. Bitcoin mining is a very power-intensive activity consuming many units of electricity a day. Implying that if unpaid electricity is used, within just a few weeks, millions of dollars in power revenue could be lost.

IMO as an expert by Marco Maltese, Bitcoin enthusiast and the author of the book "Enter Bitcoin: How It Works, Why It Works, Why Invest Now, Future Scenarios".

Venezuela, one of South America’s biggest oil-producing nations, is an economically depressed nation characterized by high rates of unemployment, food rationing and massive migration to other countries, including Europe. Despite all this, the socialist government is offering almost free electricity to people which aids Bitcoin mining activities.

On August 29, one of the leading bitcoin mining equipment suppliers, Bitmain, released a new bitcoin mining rig, called the Antminer R4.