Ever since crypto headed to the moon in 2017, Washington state has been a hotbed for crypto activity. Miners began flocking to the state thanks to lucrative deals they struck with hydroelectric power firms. However, the crypto winter has hit miners badly, and many are starting to reduce capacity or pull out from the region entirely.
In a bid to keep the blockchain industry going in Washington state, Douglas County has announced that it will be opening a blockchain innovation campus designed to help DLT researchers to develop new use cases for the powerful technology.
Gunning for a Future in Blockchain
Douglas appears to see a very different future for blockchain technology in the state when compared to other counties. Scores of counties have started campaigning against crypto miners and blockchain after the industry put incredible strains on the local resources. Some counties have even gone as far as banning all future requests for power from crypto mining farms. This new DLT campus will help Douglas stand out as a beacon of hope for firms operating in the industry, especially those looking for a home in the hydroelectric rich state.
Power Hikes for Miners
In what could be seen as counterintuitive for Douglas County, a number of neighboring counties have decided to raise the cost of power for crypto miners. This new price hike combined with the lower value of various cryptos is making the mining scene unprofitable for a large number of firms. Some counties are pushing up the price by as much as 50%, a margin that will force a large group of miners to relocate elsewhere.
Ephrata Says “No” to Crypto
Only 54 miles away from Douglas, Ephrata has decided that it has had enough with crypto miners. This negative sentiment is only a stone’s throw away from the hopeful Douglas, and there are fears that residents could take up similar views to those in the neighboring Ephrata. The ban happened after citizens swarmed the local council and demanded that something be done about the crypto mining industry’s presence in the region.
This new blockchain innovation campus is a momentous move and echoes the views seen in Wyoming, where two new crypto-friendly bills have just been passed. Giving researchers a base to learn about DLT and develop new use cases is helping the industry grow and move forward. Similarly, New York has just launched its first blockchain education center, where people can study blockchain technology and become experts in the field. These two institutions combined will be the driving force of America’s blockchain revolution – at least that’s the dream anyway.