Bhutan has been mining Bitcoin with hydropower since BTC price was $5,000
The commercial and investment arm of Royal Government of Bhutan, Druk Holding and Investments (KHI), has been mining Bitcoin since April 2019 when the crypto-asset was priced around $5,000 (versus the current $28,000 or so). KHI is exploiting the country’s vast amounts of cheap energy generated through its hydro projects. Plus the the country’s high mountain passes or mountains provide natural cooling for the mining rigs that would consume a lot of power for air conditioning in warmer places. [Read more at The Bhutanese]
Coinbase launches International Exchange with Bitcoin and Ethereum perpetual futures
The Bermuda-based Coinbase International Exchange launched following regulatory approval from the Bermuda Monetary Authority (BMA). It will initially offer Bitcoin and Ethereum perpetual futures settled in USD Coin (USDC) only to qualified institutional clients outside of the United States through an application Programming interface (API). According to Coinbase, perpetual futures accounted for nearly 75% of global crypto trading volume in 2022, and Coinbase’s offerings will allow leverage of up to 5x. [Read more at Coinbase]
Upcoming conferences, webinars and speaking engagements:
- I’ll be moderating a panel on “what happens when the lights go out…different schemes for offline functionality” at the in-person Digital Currency Conference (DCC) in Mexico City on May 18. [Register here]
- I’ll be participating in Currency Research’s in-person Central Bank Payments Conference and Global Payments Summit in Cape Town from June 26 to 30. [Register here and here respectively]
Kiffmeister’s global central bank digital currency monthly monitor
Just a reminder that I produce a monthly digest of central bank digital currency (CBDC) developments exclusively for the official sector. So for any of you out there who work for a central bank, ministry of finance or international financial institution who would like to receive it by email on the first business day of every month, please DM me on LinkedIn or email me at firstname.lastname@example.org.
The Sovereign Official Digital Association (SODA) is a technology-agnostic firm offering advisory services at the intersection of central banking, digital finance and the web3 industry, aiming to make public digital money a reality. SODA believes institutions in the existing financial ecosystem should have access to the tools and resources they need to move from discussion to action. SODA offers ‘real life’ use cases to help test digital money and drive adoption as central banks and other public institutions explore the future of a more financially inclusive world powered by interoperable blockchain-based networks. SODA would love you to join us on this journey – please get in touch (email@example.com).
Satoshi Capital Advisors is a New York-based, global advisory firm that works with central banks, governments, and the private sector to architect, implement, and operate varying initiatives. Satoshi Capital Advisors’ central bank work revolves around CBDC architecture and implementation, providing advisory services from research phase through to growth phase. Utilizing a product-market fit and technology agnostic approach to CBDC architecture and implementation enables Satoshi Capital Advisors to build tailored solutions, bespoke to local financial system nuances. Satoshi Capital Advisors welcomes requests from central bank officials for virtual and in-person CBDC workshops. [Click here for more information]
WhisperCash offers the first fully offline digital currency platform that has the same properties as physical cash. It can perform secure consecutive offline payments without compromising on security, privacy or accessibility. WhisperCash allows direct person to person offline payments without any server infrastructure or internet connectivity. It comes in various form factors including the self-contained credit card-sized “Pro” that sports an eInk screen and capacitive keyboard, and lasts for two weeks between recharges assuming a few transactions per day. [Click here for more information]