'Blockchain Innovation Campus' to be built in Washington crypto-mining town

13 Jan, 2019
by Arthur Sillers
News
'Blockchain Innovation Campus' to be built in Washington crypto-mining town

According to the Seattle Times rural Washington’s Douglas County is prepared to ‘double-down’ on Blockchain technology. The region already went through a wave of crypto enthusiasm as a crypto-mining town, and now has plans to build a ‘blockchain innovation campus.’

Through 2017 into 2018, Douglas County saw a Bitcoin-rush that saw a lot of crypto spectators coming to the region in search of cheap hydropower, which mostly fell off following the crash in late 2018. Now the county has announced plans to put money towards blockchain research in a hopeful bid to develop technology, and with it industry, in the area. Among those involved in the Bitcoin boom were Bitmain, who opened a $20 million mine in the county

Read more: Walton Blockchain Institute will train 150,000 developers in 3 years

Douglas County's move to switch from mining to Blockchain education is following a general pattern wherein crypto mining, beset by lower crypto values, are shuttering or switching their tactics. Bitmain itself has notably stopped developing a huge mining facility in Texas. Simply put, the Bitcoin explosion has slowed down and mining rewards are the lowest in a couple years. With this, mining is increasingly difficult to do profitably.

Read more: Bitmain halts development of its new mega mining facility being built in Texas

The executive director of the Port of Douglas County Lisa Park said, ‘there is more to the [cryptocurrency] story than the boom and the bust.’ Accordingly Park and her compatriots are putting local money towards keeping and attracting crypto and blockchain developers. Blockchain research is extending the implementation of the technology and is constantly proposing new use-cases. With any luck for Washington, Douglas Country might find an industrial application for blockchain to bring money to the county while crypto is at a lull.

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Read more about: Mining Blockchain

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