Reports suggest that officials in Douglas County, a county in central Washington are looking to construct a blockchain innovation campus where new inventions can be designed for the technology.
Market conditions in counties in central Washington have attracted crypto miners but due to recent downturns at the end of the year 2018, the market dynamics have changed in central Washington counties too. This gave rise to hopes such as blockchain industry creating value with lesser risk. On this matter, the executive director of the Port of Douglas County, Lisa Parks said that:
There is more to the [cryptocurrency] story than the boom and the bust.
Ms Parks’ statement shouts out the expectations of the officials in Douglas County from the blockchain technology for which the Douglas County Department of Commerce has also prepared to grant $50,000 for the cause, that is to build a blockchain innovation campus.
Since the county already possesses traits that create a favorable environment for the crypto industry, as a result of speed computing and crypto expertise constituted from the previous projects within an inexpensive power accessible geographic area. The mixture of the two provides opportunities for such technologies as blockchain. Lisa Parks added:
We have some unique assets that make our region appealing to that industry. […] Let’s figure out a way to capitalize on it.
She has strong faith on the market conditions of her region as she highlights the positives that can outburst from the inventions of blockchain technology in the Douglas County.
While the Douglas County officials have given positive feedback on blockchain technology’s introduction in the zone, other counties in central Washington do not erupt similar views. A new pricing structure was introduced in the Chelan County by the Public Utility District (PUD) as the demand for electricity was increasing, depicting not-so-favorable conditions for blockchain related businesses. Moreover, due to unauthorized mining activities in the Chelan County last year, crypto mining activities were also prohibited from the county.
Similarly, the city of Ephrata also stopped cryptocurrency mining developments within the city for a year’s time starting from October last year but in contrary to the actions of these counties, the Douglas County is still working in favor of the cryptocurrency industry as they hope for better results from the blockchain technology. The county officials have spoken positively of the industry and how the authorities line up to support the cause.
Reports in November last year suggested that Bitmain, a bitcoin mining and ASIC mining company launched a new mining facility in the Douglas County worth of $20 million which will use electricity that was predicted to generate suitable power for houses ranging from 1,500 to 4,800.
These operations did not stop even after bankruptcy was filed by another cryptocurrency mining and blockchain company, Giga Watt which failed to pay the Douglas County Public Utility District (PUD) over $310,000. Bitmain was rather brave continuing its processes in the Douglas County keeping in view the outcome of previous cryptocurrency mining firms.
The facilities left behind by Giga Watts are now owned by the Port of Douglas County after the firm filed for bankruptcy, leaving the government authority in charge of its once owned facilities. The county officials are now looking for investor groups in order to make use of the facilities for mining purposes or other applications. The possession of these facilities have now raised an emergency against the officials in the Douglas County to find suitable bodies that can derive positive outcomes from these facilities.
Thus, the Douglas County officials are in thorough support of introducing a new blockchain innovation campus where blockchain technology related developments can take place using available facilities under circumstances that back the growth of this particular industry when we take the market conditions in consideration. Positive vibes only.