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Mining company to solve global energy problem with Cryptocurrency mining

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Chicago-based blockchain technology service company EZ Blockchain is set to solve a global energy problem, revolutionize an industry.

Chicago, IL: Chicago-based blockchain technology service company EZ Blockchain is set to solve a global energy problem, revolutionize an industry, and heighten the success of cryptocurrency.

A global problem called gas flaring is one few are talking about. Natural gas is released as a byproduct of oil drilling, and in the Permian Oil and Gas Basin alone (in Texas and New Mexico), $1 Million of usable natural gas is burned—unused—every day.

North Dakota and drilling sites in Canada and around the world do the same, resulting in 141 billion cubic meters of natural gas flaring annually. The problem is that this flaring process is the only way to dispose of natural gas released during drilling without the needed infrastructure to transport it where it can be turned into consumable energy.
And that infrastructure, in broader terms meaning a gas pipe, would resolve the flaring problem and create an enormous source of revenue for local communities, not to mention provide cleaner, smarter energy.

In order to sell Associated Petroleum Gas (APG), things like a gas prep facility and compression stations also need to be built to transport natural gas by pipeline. Usually, this is only feasible in industrial production volumes. A whole oil field is covered to collect APG from multiple wells and then feed it into a hub where the required infrastructure enables selling it on the market.

The World Bank has pursued a leadership role in reducing flaring through their Global Gas Flaring Reduction Program (GGFR), helping developing countries move towards a more sustainable energy future.
But the GGFR has made little progress, with only a 5% decrease in 2017 in global flaring after more than five years of a discouraging increase. Asking for governments’ commitment to the cause and encouraging infrastructure development through lobbying is important, but it’s slow-moving. What these initiatives need is a shot of capital and greater innovation to rally behind.

EZ Blockchain has its eyes on improved energy sources, specifically renewable energy and using resources more intelligently. This crypto mining technology company sees the shortcomings of both the status quo of gas flaring and the programs in place to address it.
World leaders in gas generation, including GE and Caterpillar, have the technologies to turn natural gas into consumable energy that would cost consumers as little as three cents per KW. And that’s three cents for reliable energy that doesn’t produce C02. Natural gas can inject movement and innovation into the Permian Oil and Gas Basin, North Dakota, Canada and around the world—and change everything for the next generation.

The company is ready to roll out a plan to maximize capital generation and utilization of the natural gas released during oil drilling, introducing a more sustainable energy future for cryptocurrency mining, local consumers, and the world.

The company has developed mobile, pre-fabricated data centers from scratch that can be transported and deployed without a couple of hours. This technology will incentivize and follow the smartest energy sources. With the opportunity to produce more sustainable energy, more local income and reduce C02 and gas flaring, EZ Blockchain plans to use these data centers to become a part of the solution.

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2 Comments

2 Comments

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    December 7, 2018 at 5:41 am

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#Bitcoin

Donald Trump policies push Mexico to Bitcoin

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Mexico has seen a new all-time high trading volume on localbitcoins. This comes out on the back of the announcement from the Trump Whitehouse.

Mexico has seen a new all-time high trading volume on localbitcoins. This comes out on the back of the announcement from the Trump Whitehouse that remittance payments of Mexican migrants in the United States of America will potentially be the target of new restrictions essentially ending the possibility of Mexican migrant workers to be able to cheaply send money back home to their families.

 

Mexico adopting Bitcoin:

Mexico has been experiencing a massive increase in the number of transactions on localbitcoins. Mexican migrant workers are believed to be exploited by the remittance companies which are charging around 10% fees. What is essentially being discussed here by the Trump Whitehouse is a new tax on these migrant workers. The number that they are currently floating around is a 3% tax on the remittances going from the USA to Mexico. This may not seem super crazy but considering the $33.4 billion which were sent to Mexico in 2018 alone, that extra 3% could mean $1 billion more per year for the United States government.

 

98% of the transactions that were sent during the last year, were sent via electronic means which means that there is actually a very strong remittance route that is ready for mass disruption going from the United States to Mexico and Bitcoin could be the perfect answer. However, the average size of a remittance payment from the United States to Mexico is $322 last year and the problem is that if the fees rise again exponentially on bitcoin, then bitcoin might not be the ideal cryptocurrency for these kinds of smaller remittance payments. Maybe we are going to see some other cryptocurrency being adopted in that situation. But regardless of which cryptocurrency is used, we can see that there is a clear need for disruption as government policies again seeks to impede or overly exploit the free float of money.

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Bitcoin Crashes Downwards: Is BTC Going to Fall Back to $4000?

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Bitcoin fell down to test the $5000 support level. If the current support around $5000 is broken, BTC might really crash to $4500 and $4200 support levels.

Bitcoin fell down to test the $5000 support level which is the most crucial level for BTC currently. The downward correction started after bitcoin tested the $5500 resistance level yesterday at around 18:00 UTC.

 

The resistance around $5500 proved very strong and pushed the price downwards sharply. The sharp declining pattern attracted a lot of sellers which even pushed the price below $5200 support level and BTC tested the $5000 support reaching up to $5018.

BTCUSD Price Chart- Coinbase

BTCUSD Price Chart- Coinbase

Bitcoin is currently trading around $5070 (at the time of publication) showcasing a bearish pattern.

 

Bitcoin Price Drop:

The sudden price drop has led to people speculating that BTC might soon crash back to the $4000 range. Earlier, analysts were also predicting the sudden rise of bitcoin to be a conspiracy. Also, Bloomberg had also called the sudden rise a Blip. If BTC had successfully crossed over the $5500 range, the next major resistance was around $5800, however, BTC fell sharply losing more than $400 in value over the last 24 hours.

 

The bearish move does not clearly indicate a crash towards $4500 and $4000 range, however, if the current major support around $5000 is broken, BTC might really crash to $4500 and $4200 support levels. With the price of bitcoin falling, other major altcoins are also in the red zone today with Ethereum falling more than 8% in the last 24 hours, XRP falling more than 6% and Litecoin falling around 12% in the last 24 hours.

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China to completely ban crypto mining: Bitcoin about to Crash Hard?

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As reported by Bloomberg, China is moving towards putting a complete ban on mining bitcoin and other crypto as it causes serious wasatage of resources.

As reported by Bloomberg, China is moving towards putting a complete ban on mining cryptocurrencies such as bitcoin. In accordance to a document posted by the National Department and Reform Commission of China, the mining of cryptocurrencies should be completely banned as it causes serious wasatage of resources.

 

China is known to be the largest hub of cryptocurrency mining with huge mining rigs been set up in the country. Earlier, China has also banned small investors to invest in security token offerings or STOs and only large investors with more than $1 million funds are allowed to invest in such projects. Now, the country is planning to take strict action against cryptocurrency miners in the country.

 

Cryptocurrency miners were earlier attracted to China due to their cheap electricity rates and subsidies in the country, however, due to the strict actions being taken by the government with the guidelines of the NDRC which has disincentivized cryptocurrency mining, a lot of miners have shut down their operations or moved to other nations.

 

Largest Mining Pools in China:

China has been a hub for some of the largest cryptocurrency mining polls. Even though the mining pools have been shifting to other countries, there has been some effect of the ban on the market for bitcoin and other cryptocurrencies as the mining is a major part of the overall working of cryptocurrencies.

 

How do you think the complete ban on cryptocurrency mining in China will effect the bitcoin price? Tell us in the comments section below.

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