Blockchain Study Center To Be Established In Washington State
Administration of Douglas County in the American state of Washington expressed the ambition to create an innovation hub to develop the distributed ledger technology, as The Seattle Times reports.
Washington’s central counties support cryptocurrencies and blockchain, in their territory mining industry companies have been headquartering for a long time already. Crypto miners are attracted by cheap electrical power in the state, though after downturn of the crypto market they suffered greatly.
The county authorities expect the blockchain to help in crypto sphere development. Throughout all their history, cryptocurrencies are more than just falls and rises, Lisa Parks, the county administration representative, stressed.
The state central region strives to take advantage of existing unique assets and is ready to allocate $50,000 to the blockchain center. The presence of mining companies in Douglas allowed to know more about the high-speed computing and cryptocurrencies. Along with cheap electrical power, this is a remarkable advantage for innovations development.
It should be noted that not all the state’s territorial units feel supportive towards crypto sphere. In 2018, Chelan County imposed moratorium on crypto mining, and administration of Ephrata city in Grant County shut down projects connected with this activity.
As previously reported, a large mining company Giga Watt declared itself bankrupt due to debts to Douglas public utility in an amount over $310 000.