Blockchain

Pros and cons for El Salvador, the first bitcoin nation

September 10, 2021

El Salvador became the first country in the world to recognize bitcoin as legal tender, a move President Nayib Bukele says will save Salvadorans living abroad millions of dollars in commissions on money they send home. Despite Bukele’s popularity, the move has been greeted with skepticism by many Salvadorans who are concerned about the cryptocurrency’s […]

El Salvador plans bitcoin mining using geothermal energy

July 14, 2021

El Salvador announced plans on accepting cryptocurrency as legal tender and calls for the use of geothermal energy for bitcoin mining in the country. News outlets around the world are going a bit wild on recent stories that El Salvador wants to “power crypto-mining with 100% cheap, renewable ‘Volcano’ energy”.  Before jumping on that wagon, […]

Cryptocurrencies, central banks, and the Caribbean

June 22, 2021

In less than three months’ time, El Salvador intends becoming the first country in the world to make Bitcoin its official currency alongside the US Dollar. The country’s President, Nayib Bukele, a populist and media savvy disruptor, says that his decision will generate employment, enable the financial inclusion of tens of thousands of the country’s […]

Venezuela will finance solar projects with “Petro” cryptocurrency

March 14, 2018

The Venezuelan government intends to finance solar energy projects using its recently launched state cryptocurrency, “Petro”.  Petro is a cryptocurrency developed by the government of Venezuela, and backed by its oil and mineral reserves, which raised $735 million in the first day of a pre-sale in February. Facing the current economic crisis, the government hopes […]

Chile to use blockchain technology for energy grid

March 5, 2018

CNE, Chile’s energy regulatory agency will begin using blockchain technology to manage their energy grid, as soon as March 2018. Using blockchain, CNE will be able to verify cost of fuels, average electricity market price, and provide data security for the information exchange. Blockchain technology will provide quicker verification and reduce ability for data manupulation, […]

Antigua and Barbuda will use cryptocurrency to develop renewable energy

March 1, 2018

The government of Antigua and Barbuda has signed off on a plan to let CNET Antigua, a private sector consortium of development and renewable energy players, conduct an ICO that aims to support development efforts in the Caribbean nation.  The so-called “ICO for Development” (ICOD) will see the organization selling the Antigua & Barbuda Development Coin (ADC) to fund a variety […]