Bitfury partners Commons Foundation to open Bitcoin mining centers in Paraguay
The Bitcoin mining manufacturer Bitfury announced on Thursday that it is joining hands with Seoul-based company Commons Foundation to open and operate Bitcoin transaction processing centers in Paraguay. This news was made public by the company in its Medium blog on Thursday.
As per the blog, this initiative is part of Commons Foundation’s “Golden Goose” initiative to expand cryptocurrency and blockchain innovation in Spanish-speaking countries.
The main aim of this partnership is to build a series of transaction processing sites in Paraguay, all using Bitfury’s BlockBox AC mobile datacenters. The datacenters will use renewable energy from the hydroelectric power plants at Itaipú and Yacyretá with 20 machines fully in production. The country relies heavily on these power plants for its energy needs.
Speaking about this latest development, Valery Vavilov, CEO of Bitfury said, “We are committed to increasing the security of the Bitcoin blockchain, both through innovation in our hardware portfolio and expansion of its network throughout the world. Bitfury has consistently prioritized the global decentralization of the Bitcoin blockchain and we look forward to helping our partners introduce this industry to Paraguay.”
“We are honored to be bringing our bitcoin transaction processing capabilities to Paraguay in partnership with one of Korea’s most forward-thinking organizations,” said Eun Lee, Head of Bitfury Korea.
The Foundation is also mulling over prospects of launching a cryptocurrency exchange in Paraguay in late 2019 which would help in developing the blockchain ecosystem in Latin America, especially in Paraguay. The crypto exchange is expected to use Bitfury’s Crystal analytics platform in order to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) policies.
In December last year, one of the of the ‘Big Four’, Pricewaterhouse Coopers (PwC)has joined hands with blockchain firm Bitfury, to create blockchain projects accelerator in Russia. In collaboration with Bitfury, PwC is planning to develop blockchain solutions for corporate customers using the Exonum platform and provide new products and solutions to companies in various industries.
Image via Shutterstock
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