The Chinese crypto community seems to flourish, as judged by the number of billionaires that are the country’s natives. Indeed, half of the top 10 richest crypto owners originate from the Communist Republic.
Following the recent blackouts in major cities, Iran has started hunting for illegal businesses that are using the government's electricity to mine bitcoin (BTC) and other cryptocurrencies. What does this mean for the Blockchain and cryptocurrency industry?
A huge amount of profits are being generated for countries through this cryptocurrency mining. For this reason, governments are channelling their surplus resources to boost the mining business and the entire cryptoasset sector.
Eastern European countries are topping the list in cryptoasset adoption speed. Particularly, Ukraine and Russia have topped others because they have unduly intensive cryptocurrency usage. This shows that a bigger ration of nationals has moved away from traditional monetary activity to cryptoassets.
The oil & gas firms leveraging blockchain are in a position to increase trade accuracy, improve scheduling and back-office efficiency, improve operational efficiency, increase access to trade info, and lessen the working capital cycle.
Thailand has been very supportive of the development and application of blockchain technology in recent years. Its Energy Ministry is now launching fresh research to ascertain the use of blockchain technology in its palm oil sector.