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Compliance and Popularization, Crypto Mining Thriving From the Year 2020

The HashCon 2020 & New Infrastructure Mining Summit, was held jointly by inbtc (Bitcoin mining machine maintenance service provider started by leading mining pool Poolin cofounder Zhu Fa), 8BTC (China’s oldest and most influential crypto and blockchain media), and ChainNode (China’s largest and foremost bitcoin forum),as well as supported by Chengdu’s government in the past week(Aug 22- Aug 23).

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25 speeches and 6 forums, over 70 speakers and 40 exhibitors gather in Sichuan to share new information and explore the future potential of crypto mining industry,covering mining rig producers, mining farm managers, miners, entrepreneurs.

About 70% of the power suppliers of the whole network, 80% of the blockchain supercomputing server companies, and more than 90% of the network’s blockchain computing power representatives gathered. The conference received more than 5000 participants, which refreshes the historical record of the crypto mining themed conference.

The first day of the summit, two leaders of Chengdu government made opening speeches and introduced the investment environment. In addition, Chenghua District and 8btc signed a strategic cooperation agreement, and the first blockchain industrial park with the characteristics of blockchain computing power was settled in Chengdu. Eight blockchain enterprises including inbtc and Valarhash signed contracts and settled down.

“As the crypto mining getting compliant, the government can obtain considerable tax revenue and creating more jobs, as well as creating a stable business environment for enterprises. This is also one of the things that we hope to promote when we set up the blockchain industrial park. “

Said Qu Zhaoxiang, cofounder of 8btc & ChainNode, , mining compliance is the core issue in the summit, which was discussed almost all day on the Aug 22.

“The government of Chengdu shows great interest in mining business model, u blockchain technology, even hopes to get involved the crypto mining. Government’s attitude to the industry has changed.”

Said Zhu Fa, inbtc cofounder, Sichuan province has recently revealed the second batch of demonstration enterprises for hydropower consumption. Earlier this April, the region has encouraged blockchain companies to help consume excessive hydroelectricity in the rainy season and revealed the first batch of the model enterprises in hydropower consumption.

Years of development has witnessed a complete industrial chain of the blockchain computing industry. From chip design, miner manufacturing to surrounding supporting services, more than one enterprise can provide professional services, in particular, in the field of computing power chip design.

There are 39 exhibitors, covering most of the participants in mining ecology. Apar from head projects as Whatsminer, Innosilicon, F2Pool and BaBel also came to the conference. Enterprises from other field like Seagate, Gongyi alloy technology, SURMA also took a active part in.

At the conference, distributed storage projects began to integrate into the “traditional mining space”, XianHe system, Mass, HeiBen technology, mirror network, KeyPool and a large number of storage project parties made a lot of attention at the conference.

“There are limitations in the mining space. The industry needs to achieve a breakthrough from “mining space” to “mining industry”, and construct the infrastructure supporting digital economy. In order to support the growth of digital wealth in the future, the computing power industry system will be formed by expanding the computing power related to bitcoin mining to the whole field of digital economy.”

Said Zhu Jiaming, the famous economist in China. The whole society has begun to understand the blockchain and form a positive attitude towards cryptocurrency.