Biggest winner of 2021: Kazakhstan at a crossroads.

The President of Kazakhstan declared a "state of emergency" throughout the country, and due to the increase in the price of liquefied petroleum gas, protests have taken place in many cities since January 2 and have gradually grown. increased until the mass strike.

Since the most commonly affected miners, we have brought the national solutions such as the cooperation with Russian conversation, such as electric conversation.

And now in crisis, and tomorrow?

Insufficient power is the biggest problem in the cryptocurrency industry

2021 is the "golden age" for the development of the cryptocurrency market in Kazakhstan. China is directly launching the entire crypto industry, leading cryptocurrency operators to seek overseas development.

Kazakhstan itself is open to cryptocurrencies, has cheap electronics, and its proximity to China makes it easy for the world's largest group of miners to travel.

According to data from the University of Cambridge,Mining in Kazakhstan accounts for 18.10% of the world market, just behind the United States. As a result of this improvement, it will become a leader in the industry in the future.

But wherever cryptocurrency miners like, they will face a problem - not enough energy. Much like when Iran authorized cryptocurrency mining, it directly announced a multi-month mining ban due to power shortages.

Today, Kazakhstan is also facing this problem. From January to September 2021, total electricity consumption increased to 83 million kilowatts, but was not completed. Although he is in talks with a Russian electricity company, he hopes to stabilize power.

The president also discussed the possibility of using nuclear power to solve the problem of energy shortage, and the government also discussed the possibility of building a nuclear power plant. At present, 70% of the national grid relies on coal-fired power plants, and nuclear power plants “will be able to meet the future demand for electricity in the country. before ”and can help achieve carbon neutrality, but it will take almost ten years to complete. . erection.

Because of the electricity problems, the electricity sees the power of the world to hold a low electricity from moving to Kazakhstan.

By 2022, if the energy problem can be solved, the development of the crypto industry will be at the forefront of the world, but if there is not enough power to solve Yes , it will soon be replaced by the first second largest successor. mining site.

Electronic issues are an important part of improving the crypto industry.

It took 3 years without support to accept cryptocurrency

In September 2017, China stopped the movement of ICOs and cryptocurrency exchanges. In October of the same year, the Central Bank of Kazakhstan submitted a petition to the government to restrict the development of cryptocurrencies.

The director of the central bank believes that people do not take steps to protect their assets when investing in cryptocurrencies. “It's a tool that has no legitimate developer, base, medium, or individual, and its value is based on an estimation function. . "

As a result, there are recommendations to restrict all cryptocurrency exchanges and configure household members to convert fiat currencies to all types of cryptocurrency and ban cryptocurrency mining activities.

In December, some companies in Kazakhstan submitted requests for blockchain legalization and the cryptocurrency organization hoping to comply with blockchain market rules and release cryptocurrency during the national blockchain technology n ' is not yet popular.

Kazakhstan

The founder and chairman of the organization said, "No home business is working in the blockchain industry yet, but many companies have seen the impact of technology. Zis no."

In May 2018, in northern Kazakhstan, it was reported that a kilowatt hour costs less than a cent, and the Ministry of National Economy estimated that there was too much electricity. billion in additional revenue.

In addition, the special properties and climate make it particularly suitable for the heat dissipation needs of crypto mining. It is also an important choice for companies such as BIT Mining, Canaan and KazDigital.

In May 2020, the Senate passed the Bitcoin law and also authorized its trade. The doctor can also request authorization in accordance with the law.

According to a report by the Kazakhstan Blockchain and Data Center Industry Association, in July 2021, a cryptocurrency exchange registered as Astana International Financial Center (AIFC) will partner with a village bank for a pilot project that you can achieve.

The one-year program is designed to help local cryptocurrency companies provide legitimate cryptocurrency services, and traders can buy and trade cryptocurrency by opening a secure account.

As such, some large crypto mining companies such as Bitmain and Canaan are starting to come here to discuss cooperation and build a mining industry.

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In October, a report estimated that the cryptocurrency industry would generate $ 1.5 billion in revenue for Kazakhstan over the next five years. Currently, the annual revenue from cryptocurrency mining is $ 230 million.

The government is doing everything it can to solve the electricity crisis, including building nuclear power plants. This is because the business has high expectations and meets the needs of the home and is profitable. Accepting something must provide a way to improve yourself.

The Crypto Highway in Kazakhstan is at an intersection

Care should be taken in the process as domestic blockchain companies grow and attract overseas customers and businesses. Of course, if the market moves to the end, it will be controlled and will continue to follow.

On November 5, 2021, Kazakhstan announced a new law to apply anti-money laundering laws to companies involved in trading digital assets.

On November 8, the government decided to include all digital devices controlled by home businesses in care. The laws were finally approved by the president of the country.

Separately, the Energy Ministry said that all electricity used by all unregistered and legal workers accounts for around 8% of the country's total electricity production. The government plans to ban unregistered cryptocurrency miners from imposing taxes on registered employees. It has been estimated that ground miners use twice as much energy as legal miners.

Surveillance was scheduled, but as of December 31, 2021, Canaan Technology had deployed more than 10,000 miners in Kazakhstan. We also plan to use the calculator more in the future.

In addition to improving arguments, Kazakhstan will frequently support the digital development to contact the applicants related to all applicants. July 2022. Of course, it is determined on December 2022 regarding the Benefit's Benefits will be produced.

On January 6, 2022, protesters rushed to the government, unhappy with soaring electricity tariffs, which prompted the country's largest telephone company to block the country's roads. Bitcoin mining pools. The central bank has also suspended operations in the country. Currently, all areas are in a state of emergency.

The summer lenster the summer says, "You can't escape the situation of the hero's hero and the situation in the season."

The development of a country is also governed by events and times, but even in the present chaos, it does not hide the light of the future.