The City of Mobile in Alabama State Launches Bitcoin Mining Project

GulfQuest Maritime Museum Board announced on Wednesday a partnership with Distributed Ledger, Inc. (DLI), a blockchain and crypto service provider, to develop sustainable Bitcoin mining in the City of Mobile, Alabama state.

The mining project is being built at GulfQuest Maritime Museum, a non-profit organisation governed by community and state leaders.

Last month, Mobile City – a port city on Alabama’s Gulf Coast – held a city council meeting whereby they came into agreement and therefore approved the project to move forward. The move showed the willingness of the authorities to allow the city to expand its exposure to blockchain and other crypto-related projects.

The plan is part of the city’s efforts to develop a new sustainable revenue source to boost growth for the next decade. As GulfQuest and DLI work to drive blockchain adoption on a government scale, financial gains are just getting started.

According to the report, DLI is using a modified shipping container as a plant to house 100 mining machines of Bitmain’s Antminer S19s, all of which will be fully air-cooled on-site. Such machines will mine Bitcoin around the clock. The initial development of the project will be backed through government funding, but subsequent infrastructure will be funded through crypto mining revenue.

Mike Dow, the former Mayor and the current Executive Director of GulfQuest Board, talked about the new development and said: “The hi-tech revenue source of Bitcoin mining, is tied to the education, adoption and growth of the next level of encrypted and secure growth of the internet designed to provide a dramatic time and cost savings and a higher level of security for the global maritime industry.”

Mike Francis, Distributed Ledger CEO, also talked about the partnership and stated: “We couldn’t be more excited at the opportunity to bring blockchain technology and bitcoin to the State of Alabama and, more importantly, the great City of Mobile. Our goal at DLI is simple, help companies and institutions with the understanding, accumulation, and usage of cryptocurrency.”

The City of Mobile is home to one of the largest ports in the US, with a trading volume of over 65 million annually. GulfQuest, which sits on the mouth of the Mobile River, was developed in 2015 to showcase and tell the story of the maritime and cultural heritage of Mobile, the oldest city in Alabama state. GulfQuest plays a vital role in portraying the history of the city and the state while watching the use case of its maritime industry’s competitive growth closely.

 

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The City of Mobile in Alabama State Launches Bitcoin Mining Project

GulfQuest Maritime Museum Board announced on Wednesday a partnership with Distributed Ledger, Inc. (DLI), a blockchain and crypto service provider, to develop sustainable Bitcoin mining in the City of Mobile, Alabama state.

The mining project is being built at GulfQuest Maritime Museum, a non-profit organisation governed by community and state leaders.

Last month, Mobile City – a port city on Alabama’s Gulf Coast – held a city council meeting whereby they came into agreement and therefore approved the project to move forward. The move showed the willingness of the authorities to allow the city to expand its exposure to blockchain and other crypto-related projects.

The plan is part of the city’s efforts to develop a new sustainable revenue source to boost growth for the next decade. As GulfQuest and DLI work to drive blockchain adoption on a government scale, financial gains are just getting started.

According to the report, DLI is using a modified shipping container as a plant to house 100 mining machines of Bitmain’s Antminer S19s, all of which will be fully air-cooled on-site. Such machines will mine Bitcoin around the clock. The initial development of the project will be backed through government funding, but subsequent infrastructure will be funded through crypto mining revenue.

Mike Dow, the former Mayor and the current Executive Director of GulfQuest Board, talked about the new development and said: “The hi-tech revenue source of Bitcoin mining, is tied to the education, adoption and growth of the next level of encrypted and secure growth of the internet designed to provide a dramatic time and cost savings and a higher level of security for the global maritime industry.”

Mike Francis, Distributed Ledger CEO, also talked about the partnership and stated: “We couldn’t be more excited at the opportunity to bring blockchain technology and bitcoin to the State of Alabama and, more importantly, the great City of Mobile. Our goal at DLI is simple, help companies and institutions with the understanding, accumulation, and usage of cryptocurrency.”

The City of Mobile is home to one of the largest ports in the US, with a trading volume of over 65 million annually. GulfQuest, which sits on the mouth of the Mobile River, was developed in 2015 to showcase and tell the story of the maritime and cultural heritage of Mobile, the oldest city in Alabama state. GulfQuest plays a vital role in portraying the history of the city and the state while watching the use case of its maritime industry’s competitive growth closely.

 

Image source: Shutterstock

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CBDC wallet tops mobile app store charts in China

The official digital yuan wallet app that was released as a pilot version to be used in select cities has still managed to top app store charts in its first week.

Developed by the Digital Currency Research Institute of the People’s Bank of China (PBoC), the app became available for download on Chinese Android and Apple app stores last Tuesday.

The app is still in an experimental phase and is only accessible to select individuals through authorized e-CNY service providers. While anyone in China could download the app, its usage is limited to select cities.

Despite these limitations, the South China Morning Post reported that e-CNY managed to become the most downloaded app on Apple’s App Store one day after its launch, surpassing Tencent’s super app WeChat. It was dethroned by video-sharing app Kuaishou on Saturday.

The app enjoyed similar success in Xiaomi’s mobile app store, a popular platform for Chinese Android users. It topped the list within a day before falling to the second spot on Monday according to market researcher Qimai. The app ranked 43rd on Huawei’s mobile store on Monday, jumping 10 spots in a day.

Related: China wants US senators to ‘stop making trouble’ out of digital yuan

After years of development, China started digital yuan pilots in April 2020 and since has become a pioneer in central bank digital currency (CBDC) development, to the point where the country plans to enable CBDC payments at the 2022 Winter Olympic Games in Beijing, scheduled for next month.

The digital yuan even became a topic of debate for several United States senators, who have signed a letter urging Olympic officials to forbid American athletes from using the digital yuan during the event.