The local government of US’ Douglas County in Washington has revealed exciting plans to build a blockchain innovation campus, as reported by The Seattle Times on 11 January 2019.
The county already boasts of a considerable crypto mining industry and hosts several crypto mining companies courtesy of the cheap hydroelectric power, but the industry did take a sizable hit after the 2018 crypto price drop.
The plans for innovation campus aims to create a more stable and permanent blockchain market presence, as Lisa Parks, executive director of the Port of Douglas County and a crypto enthusiast expressed in her statement: “There is more to the [cryptocurrency] story than the boom and the bust.”
The Department of Commerce at Douglas County has reportedly agreed to release $50,000 in a bid to start the development of the blockchain innovation campus. The stage is set for such a facility as well since the previous cryptocurrency-related activity means the county already has a wide range of high-speed computing capacity along with great cryptocurrency expertise. This combined with the cheap electricity supply ensures that Douglas County can definitely turn into a crypto haven, as hinted by Perks who said, “We have some unique assets that make our region appealing to that industry. […] Let’s figure out a way to capitalize on it.”
Douglas County has had its fair share of ups and downs when it comes to the crypto economy. At its peak, miners flocked the place and the county officials received hundreds of electricity connection requests, which were fulfilled by the county’s own dam. But after 2018 crypto crash, the costs of mining got infeasible, so much so that crypto mining host GigaWatt filed for bankruptcy. But as the crypto landscape seems to return to normalcy, Douglas Country is again looking to cash in with the Blockchain innovation campus and turn the clock back to the good old days.
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