Bitcoin Forum

According to information released by the US Senate, its Energy and Natural Resources Committee announced that it will hold a hearing on “blockchain and similar technology energy efficiency” next Monday (August 21). It is reported that US legislators will explore how to apply blockchain technology in the energy industry and discuss whether to increase the cryptocurrency mining electricity bill.

https://www.jinse.com/news/blockchain/228771.html

A good news as well as bad news for the people in America. Good news is the USA using blockchain tech indicates their dependency in the Crypto space, they are involving slowly. And the bad news is, they might be, I assume going to increase energy bills for the miners.

Since cryptocurrency and crypto market is a huge place where investors get lots of profits.Senate will make an effective decision that will bring good results to investors of cryptocurrency.

Hopefully this Senate hearing will bring success to cryptocurrency. And their discussion will be for cryptocurrency. And hopefully they will say, that the cryptocurrency system will improve in future.

Hopefully there will be good news for the cryptocurrency in the Senate seminar about Blockchain and similar technology. And with this, cryptocurrency will go further. I am excited about what happened.

it is very good news for blockchain. it will do something good in future. blockchain are more reliable and potential in the world. if us are use it then people are encouraged about it and they increase their investment. its future are more bright.

it is very good new for blockchain because people are increase their interest about blockchain. If US use it than it will be a very good sign for blockchain. i think its future are more bright.

it is very good news for blockchain. blockchain are more popular in the world. it is more advanced technology that's why people are more interested about blockchain. if us are use it than it will be do something good and it is very good sign for blockchain.

This hearing might bring positive results as all 23 Senate members will be attending the hearing. I guess it will be great if the technology like blockchain can be used in their online energy supply system.

Several initiatives worldwide are utilizing blockchain to track smart energy supply. The Japanese government, for example, is using NEM for their nuclear power. Walmart recently received a patent for a blockchain-based smart energy grid system via solar energy. I think this is a necessary step towards an internet-of-things future and wonderful to see US govt increasingly embracing blockchain tech

Blockchain technology is better than the traditional technologies in many aspects. That's why now it is being accepted globally. It is good to see that US Senate have taken this technology seriously.

Wow blockchain is now being implemented in every sectors. It is really need to be appreciated. I hope it will bring better days in energy industry which is really important in present world.

Utilizing blockchain in energy industry will be a revolution. The technology will be more popular then, But increasing the electric bill for mining does not convince me. It will just increase the productivity cost.

I have a doubt regarding this lawmakers and there are huge chance of them holding cryptos from before and if it happens then the chance of getting a fair result will go down as many of them will try to do what is best for them and bad for the whole crypto community. Hoping for the best right now.

This hearing can prove to go both way for the crypto community. Making blockchain mainstream can serve the actual purpose of the technology and help it's mass adoption. However, the increase in mining bill can hamper the crypto market badly if the senators and lawmakers decide to vote for the decision and if they decide to squeeze out their own profit.

The news is good and bad both for the crypto enthusiasts. If blockchain is utilized then their will be a huge possibility for a technological revolution to happen in coming years. Moreover, a lot of employment opportunities can be created in blockchain industry. However, if the senate decides to increase the price of mining then it will badly affect the market as it seems.

If the energy industry does get more R&D it will be a good thing because the people are going towards a more eco-friendly means of lifestyle. And if there are crypto currency involved, it will be a good thing indeed or the market as well as for the investors.

Another example on how out of touch the US government is with technology.
There are no significant mining pools and farms in the US at all.
It's simple, energy is just too expensive in the US.
The vast majority are in China, or in remote places suited for that kind of energy intensive activity.

So, as it stands, people don't want to open big farms in the US.
Then, putting on a tax specifically for mining?
Hahahahha, yeah, useless beaurocracy at it's finest.

A lot of people have a hard time understanding the basic core idea and tech behind the blockchain: that it is distributed across the world.
Legislature for it is almost impossible as it jurisdiction falls across so many boundaries across the world.
They should be taking the time to figure out how to implement it and profit from it rather than how to regulate it.

Weird they don't care about gold and oil mining + energy wasting.

I think that's a pretty good decision. The US Senate will be looking on blockchain technology on August 21. Their aim is to find out the impact of blockchain technology on electricity and measures to improve it.

This is a good news and a good development to the crypto world. I have seen several projects integrating energy and power generation into blockchain technology. Personal, i am beginning to realise that there are lots of benefits that can be harness through blockchain technology. I know that very soon, this bill is passed through the senate and it is approved, so many other countries will also embrace it and will also think of other areas that blockchain technology can be useful to them.

Having projects working on the energy and the resource sector is a good idea, given that the environment does need more and more eco friendly projects like this. This will bring in more investors for sure.

There have already been govt sponsored blockchain based energy efficiency projects working in Australia, i think USA and rest of the world will definitely follow them and this will also help in mass adoption of blockchain technology.