MILAN - The Meta Economist just met an emerging talent in the crypto economy. Her name's is Paola Angioni and she has a long experience as financial advisor. She's based in Milan but she works worldwide. Her main focus is about a topic we already treat but needed to be analyze properly. Together with Angioni in fact, we talked about crypto mining, the process by which new cryptocurrency coins or tokens are created and transactions involving existing coins are verified and added to the blockchain ledger. What Paola is developing involves mining in a completely new paradigma.
Here she presents Life Miner project in Paraguay, which demonstrates that the use of renewable hydroelectric energy in crypto mining can enhance efficiency and ecological responsibility in the sector. Hydroelectric power, a renewable and low-carbon energy source, provides a reliable and sustainable energy supply for mining operations. This transition reduces the reliance on fossil fuels, thereby lowering greenhouse gas emissions and minimizing the environmental footprint of mining activities. We met Paola in Milan and she's super focused on the Paraguay adventure.
Can you introduce yourself to our readers and tell us about your professional background as an international financial advisor and tell us why you chose to focus on Bitcoin mining instead of cryptocurrency trading?
I am an international financial consultant with over 15 years of experience in the sector. Over the years, I have had the opportunity to work with various institutions and private clients, supporting them to achieve their financial goals through personalized investment strategies.
Bitcoin mining represents a fundamental aspect of the cryptocurrency ecosystem, being the process that guarantees the security and validity of transactions. This gives me a sense of active and concrete participation in building and maintaining a decentralized network.
Furthermore, mining offers stability that trading often cannot guarantee because it is subject to market volatility. While trading can be highly volatile and requires constant attention to market movements, mining allows you to have a predictable and constant income stream from the work of producing Bitcoin. This does not mean that mining is without risks or challenges, but I find that the long-term approach and the opportunity to use advanced and sustainable technologies, such as those offered by stable and long-lasting projects such as Life Miner, a physical company that operates in Paraguay, offer greater stability.
What is your point of view in the comparison between old and new finance? Traditional finance relies on centralized institutions and stringent regulations, offering security but limiting innovation. Digital finance, on the other hand, promotes decentralization and global accessibility, with tools such as cryptocurrencies breaking down traditional barriers. Currently, in my role as an international financial advisor and dealing with Bitcoin mining, I see enormous potential in digital finance to democratize access to investments, making them more inclusive and dynamic. Furthermore, the new finance is accessible to everyone, allowing you to start with very low amounts. However, the quality of information and the support of specialized operators are crucial to protect yourself from risks and fully exploit the opportunities offered. This evolution not only transforms the financial landscape, but also opens up new opportunities for a more equitable and innovative future.
What is in a few words Bitcoin mining and what role does it play in the cryptocurrency ecosystem?
Bitcoin mining is the process by which new units of the cryptocurrency are generated and released into the network. Miners use specialized hardware to solve complex mathematical problems, which allows new blocks to be added to the Bitcoin blockchain. This process is essential for the security and decentralization of the network, as it makes it difficult for any single actor to manipulate transactions or compromise the integrity of the blockchain.
Here's a video showing Life Miner project development:
What are the main economic benefits associated with Bitcoin mining and how can they be exploited by investors? The main economic benefits of Bitcoin mining include the possibility of obtaining new coins as a reward for the work of validating transactions and the potential increase in the value of Bitcoin itself over time. Investors can benefit from mining through investing in high-quality hardware, joining mining pools to stabilize earnings, and implementing strategies to reduce operating costs, such as using renewable energy sources.
What are the main environmental challenges related to Bitcoin mining and how can they be addressed effectively, especially in a context like that of Paraguay? The environmental challenges related to Bitcoin mining include high energy consumption and carbon emissions. In Paraguay, these challenges can be effectively addressed thanks to the availability of hydroelectric energy, which is a renewable energy source with low environmental impact. Using hydroelectric power significantly reduces the carbon footprint of mining, making operations more sustainable.
How are emerging technologies transforming the Bitcoin mining industry, making it more efficient and sustainable?
Emerging technologies are transforming Bitcoin mining through the introduction of more advanced hardware, such as next-generation ASIC chips, which are more energy efficient. Furthermore, the adoption of innovative cooling solutions and the use of artificial intelligence to optimize mining operations are helping to reduce the environmental impact and increase the sustainability of the sector.
What are the key differences between Bitcoin production and distribution, and why is it important to focus on production?
Bitcoin production, or mining, is about creating new coins and validating transactions, ensuring the security and integrity of the network. Bitcoin distribution, on the other hand, refers to the exchange and circulation of existing coins among users. Focusing on production is crucial because it keeps the network secure and decentralized, while distribution relies on a stable and secure network to function effectively.
Which strategies can Bitcoin miners adopt to ensure maximum transparency and security in their operations? To ensure transparency and security, Bitcoin miners can adopt different strategies, such as the use of blockchain technologies that make every transaction traceable and verifiable. Furthermore, participating in reliable mining pools and adopting advanced security measures, such as the use of firewalls, data encryption and continuous monitoring of mining activities, are crucial. Transparency can be further improved through regular audits and the publication of operational reports.
How can entrepreneurs and investors contribute to and benefit from the Bitcoin mining industry in a long-term perspective?
Entrepreneurs and investors can contribute to the Bitcoin mining industry by investing in innovative and sustainable technologies, creating efficient infrastructure, and collaborating with other companies to develop renewable energy solutions. In the long term, they can benefit through participation in projects that aim to reduce operational costs and increase profitability, as well as by diversifying their investments in the cryptocurrency sector to mitigate risks.
What future development opportunities do you see in the Bitcoin mining sector and how can investors prepare to seize them?
Future development opportunities in Bitcoin mining include adopting more efficient and sustainable technologies, expanding into new regions with access to renewable energy sources, and improving cooling techniques to reduce operating costs. Investors can prepare for these opportunities by staying current on technological innovations, investing in research and development projects, and partnering with industry leaders to leverage synergies and optimize operations.
How does the Life Miner project in Paraguay manage to combine the efficiency of Bitcoin mining with a sustainable approach and what are its advantages compared to other operators in the sector?
Life Miner chose Paraguay for its Bitcoin mining operations due to the availability of renewable hydroelectric energy, which significantly reduces the carbon footprint. By using clean energy and implementing advanced energy efficiency technologies, Life Miner manages to combine efficient mining with a sustainable approach. This approach not only reduces operating costs, but also makes Life Miner an industry leader in sustainability, offering competitive advantages over other operators using more polluting energy sources.
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
There is a new way to bridge the difference between fiat money and cryptocurrencies. Transak, a Web3 payments provider, has made an agreement with blockchain development platform Cometh to introduce a simplified fiat money to Layer three (L3) onboarding solution. This new system supposedly makes it easier to purchase crypto assets directly on Cometh's L3 blockchain, Arbitrum Orbit.
According to the company's announcement, the integration allows users to purchase ethereum (ETH) on Muster, Cometh's Arbitrum Orbit platform, without having to manage crypto tokens and gas tokens.
By automating interactions directly via Transak One and Cometh's Web3 development platform smart contracts, the solution eliminates the need for intermediate steps such as token bridging, significantly reducing transaction times.
Before this system, users needed to create a multi-step process involving purchases on a Layer 2 solution and subsequent bridging on Muster. A complicated and time-consuming model. "Transak says users can now directly purchase cryptocurrencies using credit cards on Muster, making entry into non-fungible token (NFT) markets and other blockchain interactions much faster" - Bitcoin.com reported.
According to Steven Goldfeder, co-founder and CEO of Arbitrum development company Offchain Labs, the collaboration “simplifies the user experience, unlocks the potential for mainstream adoption, and showcases the power of building innovative solutions on Arbitrum’s scalable infrastructure".
SOURCE: Bitcoin.com
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
The Abu Dhabi Agriculture and Food Safety Authority has told local farmers that their farms cannot be used as a site for crypto-mining. The Abu Dhabi Agriculture Authority has issued a notice banning cryptocurrency mining on farms. The UAE government body stated that this activity is considered "an improper use of the farm for purposes other than those intended." Furthermore, anyone caught violating this law would face fines of up to 10,000 dirhams, equivalent to approximately $2,700.
Cryptocurrency mining is a process that enables users to earn crypto-assets by confirming transactions on blockchain networks that use a Proof-of-Work (PoW) consensus mechanism. In this system, miners compete to solve extremely complex mathematical puzzles, a process that requires substantial computational power and energy. These puzzles are integral to validating and securing transactions on the network. Once a miner successfully solves a puzzle, they add a new block to the blockchain and are rewarded with a specific amount of newly minted cryptocurrency. This reward incentivizes miners to continue contributing their computational resources to maintain the network’s security and integrity.
Although cryptocurrency mining is prohibited on farms, the UAE is generally a crypto-mining friendly jurisdiction. In fact, data from 2023 shows that the UAE's Bitcoin mining capacity was approximately 400 megawatts, which accounted for about 4% of the global hash rate. This indicates a significant presence in the global cryptocurrency mining industry, reflecting the UAE's supportive stance towards this activity.
The technological acceleration of this historical moment has a pervasive socio-economic impact and is changing technological and cultural paradigms, involving the production system in all its forms. Those who produce, those who transform, those who distribute, those who sell and those who consume are increasingly brought together thanks to the infosphere.
Agriculture and technology, two apparently distant worlds, are in reality profoundly interconnected.
Complex technology such as blockchain can have various areas of application in the agrifood world:
SOURCE: CoinDesk
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
Talking practically, when we use AI is a matter of fact that we
Laura Rosell is an academic copy editor. She works with professional writing and she wrote an article discussing the "dark side" of AI and the risks connected to a limitless use of AI "writing assistants". That’s the focus of Ilaria Vanni’s latest interview about the consequences of the use of AI. “You don't know what you don't know”. That’s the big danger, according to Rosell, when the use of AI is not made by someone who’s not skilled enough to write. If you can't even fix a spelling mistake or put a period in the right place, you probably would benefit a lot from professional help with your writing”, Rosell said.
Read also---> The EU AI Act is law by Ilaria Vanni
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
Bitcoin is ready to open another chapter. For the most popular cryptocurrency, born in 2009 from the idea of a programmer who calls himself Satoshi Nakamoto is coming a new important revolution: the fourth halving. The halving established by the four-year cycle of the asset will inevitably change its acquisition and use methods. In fact, a halving of daily emissions is expected: 6.25 Bitcoins will no longer be created for each block of transactions, but 3.125. With very important consequences.
The halving involves a decrease in the creation of Bitcoin, which from today goes from 900 to 450. The cryptocurrency therefore becomes increasingly scarce, in other words it can be said it will become "a more scarse than gold", said SkyTg 24.
The price of Bitcoin now stands at around $64,500, close to the record recorded in November 2021, before the new peak reached last month, triggered precisely by the wait for the halving appointment . The halving will inevitably define new balances, especially in the medium and long term. As always, we encourage you to weigh every decision, not based solely on short-term forecasts. Looking back, after each Halving we have witnessed an impressive growth in the value of bitcoin.
SOURCE: SKYTG24
IMAGE CREDITS: André François McKenzie
READ ALSO ---> "Google's Gemini enters the AI market with a completely new model" by Ilaria Vanni
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
Deputy Treasury Secretary Wally Adeyemo recently discussed the use of cryptocurrency and digital assets by terrorist groups. Adeyemo aims at struggling against crypto crime by creating a stable regulatory environment . Before the Senate Banking Committee Adeyemo said:
“As we take steps to cut terrorist groups and other malign actors off from the traditional financial system, we are concerned about the ways these actors are using cryptocurrencies to try and circumvent our sanctions. For example, five years ago, al-Qaeda and affiliated terrorist groups, largely based out of Syria, operated a Bitcoin money laundering network using social media platforms to solicit cryptocurrency donations. After receiving virtual currency, they laundered the proceeds through various online gift card exchanges to be able to purchase what they needed to advance their violent agenda.”
Us Deputy proposals include secondary sanctions aimed at foreign providers of digital assets involved in illicit financing, extraterritorial jurisdiction to pursue companies undermining national security, and the introduction of a new secondary sanctions tool. These measures aim to enhance authorities' ability to combat financial crimes in the cryptocurrency sphere and address the increasing use of digital assets for illegal funding.
The first proposal's goal is to prevent these suppliers from facilitating illegal activities and cut off their access to the international banking system. By increasing the accountability of digital asset platforms and service providers, this policy aims to make it more challenging for individuals to exploit cryptocurrencies for unlawful purposes.
Adeyemo's second proposal calls for extending jurisdiction beyond national borders in cases where companies using digital assets to undermine national security are abusing the financial system. This expansion would enable US law enforcement to pursue and punish foreign criminals utilizing cryptocurrencies for illegal activities, regardless of their location. The intention is to ensure that entities and individuals involved in illicit financing cannot evade accountability by exploiting the global nature of digital assets, thereby reducing jurisdictional gaps.
These proposed reforms reflect a concerted effort by the US Treasury Department to bolster enforcement mechanisms against the misuse of cryptocurrencies for criminal purposes. By targeting both foreign providers and those abusing digital assets to undermine national security, the aim is to create a more robust regulatory framework to combat financial crimes in the cryptocurrency space.
SOURCES: CNBC, Blockchain News
READ ALSO ---> "Google's Gemini enters the AI market with a completely new model" by Ilaria Vanni
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
1inch Network, a decentralized finance (DeFi) company, has unveiled a new debit card with crypto-fiat bridge functionality. 1inch gave the announce on its official website. This new crypto debit card was made in collaboration with Mastercard and Baanx. Users will be able to carry out cash withdrawals and transactions at enabled points of sale and ATMs.
The collaboration with Mastercard and Baanx created this new payment model. The new debit cards will come with full features, including a physical card with account number, expiration data and the "CVC" security code needed to make some transactions. They will also have a virtual card function, which will allow users to carry out transactions digitally, where supported.
Christian Rau, senior vice president of crypto and fintech enablement at Mastercard, said in a statement that the new card represents a necessary bridge between the Web3 and Web2 world: “We have long supported solutions that not only delight customers but also offer reach, peace of mind and the highest levels of security. Leveraging Mastercard's leading technology and standards, the 1inch card connects the Web2 and Web3 worlds in an innovative way.”
This can slow down transactions, increase security risks, and add additional fees to the process. The advent of purchases through crypto-to-fiat debit cards allows users to maintain custody of their crypto and Web3 funds with a single conversion rate to consider at the time of purchase. For now, the cards are only available in the UK and European economic areas. However, according to 1inch, the company is looking to expand the program as Orest Gavryliak, chief legal officer of 1inch Network, told Cointelegraph.
Segej Kunz, co-founder of 1inch Network, showed the virtual payment method of the new card in a post on the social network X, completing a one-touch transaction with his smartphone. As announced, the 1inch Crypto Card allows users to make cash withdrawals at supported ATMs through crypto to fiat conversion and it also supports Apple Pay or Google Pay. “This is another important step towards bringing a large number of users into DeFi,” said Sergej Kunz, co-founder of 1inch. “With the 1inch Card, the user can enjoy the benefits of both DeFi and traditional finance.”
In these days, during the Paris Blockchain Week, 1inch co-founder was guest on talks about Defi and crypto payments. Kunz also posted on X the immediate results after the launch: "In just the first 24 hours since launch, over 3,000 visionaries have applied to the #1inchCard waiting list - and we're just getting warmed up!"
SOURCES: CryptoNews, CoinTelegraph
READ ALSO ---> "Google's Gemini enters the AI market with a completely new model" by Ilaria Vanni
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
According to José Maria Macedo, CEO of Delphi Labs and founding partner of cryptocurrency investment firm Delphi Ventures, Ethena Labs will become the highest revenue-generating cryptocurrency project on the market. Ethena Labs is one of the projects with the most potential for Delphi Ventures during this bull cycle, according to an April 2 post on Delphi Labs' Macedo blog, which explains: “sUSDe will offer the highest dollar return in crypto at scale. USDe will become the largest stablecoin outside of USDC/USDT in 2024. Ethena will become the highest revenue-generating project in the entire crypto industry.”
ENA, the governance token of Ethena Labs' much-discussed Ethena protocol, has been among the best of the 24 hours, gaining more than 45 percent at the time of writing. This is a sign that despite the controversies and doubts involving the main project, demand has been strong.
Controversy that has also affected in the last few hours one of the so-called bluechips of the DeFi world, namely AAVE, cascading over DAI's decision to increase the underlying limits precisely related to the project's stablecoin.
On March 8, Ethena Labs became the highest-earning decentralized application (DApp) in crypto, offering a 67% annual percentage yield (APY) on USDe. Ethena launched its USDe synthetic dollar on the public mainnet on February 19. According to its homepage, Ethena's USDe synthetic dollar currently offers a 35.4% APY and over 118,000 users. The CEO's bullish forecast follows the launch of Ethena Labs' airdrop on April 2, which distributed $450 million worth of Ethena (ENA) tokens to eligible wallets.
SOURCE: CoinTelegraph
PHOTO CREDITS: Carlos Muza
READ ALSO ---> "Google's Gemini enters the AI market with a completely new model" by Ilaria Vanni
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
Bitcoin loses 5% in a few minutes during the Asian Session. The other top cryptocurrencies by market capitalization do even worse. Ethereum just over 7%, BNB less than 6% and Solana the same. Certainly not a situation of great collapse and great panic, although the decline was vertical. Bitcoin fell below $66,500, which very far from the disaster that many are talking about on social media. "Bitcoin (BTC) faced selling pressure during Asian trading hours on Tuesday as upbeat U.S. factory data lifted the dollar index (DXY) to the highest since mid-November" - Coin desk says.
The dollar is stronger, so-so Asian markets and that's probably why Bitcoin pays the bill. But, all things considered, Bitcoin is not performing badly even for risk assets and we have to see this movements as a temporary correction that does not change the fundamentals. The Asian markets, which may be responsible for this moment of difficulty for Bitcoin, are actually ending the day on a positive note. Hong Kong makes +2.35%. The dollar index, which tracks the greenback’s value against major fiat currencies, topped the 105 mark for the first time over four months, taking the four-week gain to 2.58%.
Macro data has provided further support for rate cuts in the USA which will perhaps be postponed even beyond June. Markets now price the chance that the Federal Reserve will cut rates in June at just over 50%. Something that only 1 week ago was priced at over 60%, just to have a perspective of what is happening also in terms of sentiment. Although cryptocurrency enthusiasts are often excessively reactive to movements, it should be remembered that Bitcoin is a mere -10% from historical highs, just as the daily losses of the entire sector should be assessed with a bit of a sense of proportion.
SOURCE: CoinDesk
PHOTO CREDITS: Art Rachen
READ ALSO ---> "Google's Gemini enters the AI market with a completely new model" by Ilaria Vanni
Ilaria Vanni is a TV journalist for italian broadcasting and coordinator of The Meta Economist portal. She has a philosphy degree and she's now studing the economic and technological issues connected to the new frontiers of the metaverse.
