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HashChain Technology Interview



HashChain Technology, a global Blockchain company which focuses in crypto mining. Currently operates 100 Dash mining rigs and has 770 BTC rigs. The company recently purchased 3,000 more rigs.

HashChain is now looking to expand beyond mining and purchase the company NODE40.

HashChain Interview

Tell us about your background and how you got started with HashChain?

I started as a software engineer and am a serial entrepreneur who has been lucky enough to be a part of a few start-ups that enjoyed successful exits. I’m also a founder of a number of technology companies, including most recently sCube in Albany, NY. Having always been a believer in cryptocurrency and its potential to disrupt the status quo in our economy, I made early investments in different coins including Bitcoin, Dash, and others. It wasn’t long before I saw the potentially huge upside to investing in cryptocurrency mining and founded HashChain Technology. I was the President of sCube at the time and decided to step down from my role and focus exclusively on HashChain.

What interests you most about blockchain technology?

Blockchain has the potential to transform nearly every industry due to its inherent transparency and accountability. Blockchain eliminates the fundamental security flaw of assuming trust in a third-party verifier. By eliminating the need for trust in the verification process through computing-based crowdsourcing, business as we know it will fundamentally change to become more secure and simple. Cryptocurrency is obviously a very large use case for blockchain now, but it will find so many more applications in the near future.

Why did you decide to focus on Dash?

We initially focused on Dash because it is driven by great technology. With the Masternode system of Dash (the proof-of-stake aspect of the currency), the blockchain allows coin holders to use InstaSend and PrivateSend, making each transaction more secure and quicker to verify. Recently, the Cryptokitty craze on the Ethereum blockchain highlighted a major flaw with “proof-of-work”cryptocurrencies because they can’t verify transactions fast enough to avoid bottlenecks during high volume times. Dash doesn’t have these issues. With all that said, Dash was just the first step for us. We currently have a web-monitoring system that allows us to allocate a portion of computing power to other mineable currencies in real-time as they become more profitable. Our goal is to keep our mining operations flexible and mine the highest-ROI currencies available at any given moment.

How do you plan to achieve your crypto mining expansion plans?

We have the infrastructure already in place to scale at our desired rate. When developing massive mining pools in a short period of time, you need two things – money and the ability to purchase rigs in mass quantity. It is the latter that is the most challenging for many miners. Buying 10 or 20 rigs isn’t an issue, but thousands become a different story. We have a strategic partnership with the largest rig manufacturer in the world, which allows us to scale much quicker than competitors. As an example, we began our mining operations with 100 GPU rigs in December 2017 and have received 770 ASICs for installation and completed a purchase order for an additional 5,000 expected in two shipments by the end of March. We anticipate operating at 5.8 megawatts by the middle of this year.

Why did you choose Vancouver as a location for a data center?

Canada has the optimal mining conditions for large-scale cryptocurrency mining. You need low costs for Internet and electricity, and a cold environment to reduce costs associated with overheating. There are very few places in the world that have all three, and Canada is one of them. By keeping our mining costs down, we guarantee the best ROI on each coin mined. Currently, only 14% of all mining is done in optimal conditions, so it is a big advantage for us.






Fake Identity Documents Investigation




Federal prosecutors in the US are currently loooking to get the forfeiture of around 500 Bitcoin which is worth about $5.5 mln during an investigation  of a group producing fake ID documents.

Fake IDs


Four people from Ohio were indicted for having produced fake IDs and driver’s licences.

Prosecutors are now asking for the forfeiture of more than $8,000 in cash, as well as gold and silver coins and bars worth around $265,000.

If the prosecutors were to win the case, the BTC, along with the other assets, will be seized by the government.

The gorvernment has sold confiscated Bitcoin before holding auctions and selling about 3,813 BTC per year.

The proceeds from selling the 144,336 BTC forfeited from Ross Ulbricht after his conviction for  running the online black marketplace Silk Road, were equal to around $48 mln, an average of $334 per Bitcoin. If the government had sold the BTC today, they would have made over $1.5 bln.

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DApp: Business Reimagined, eXeBlock




Recently the Digital Journal sat down with Jonathan Baha’i, the founder of eXeBlock, a company based in Debert, Nova Scotia, which focuses mainly on developing new and disruptive apps that help tackle problems for individuals as well as businesses in an innovative way.

Baha’i stated

“Numerous reasons why organizations may decide to hire a blockchain development company. Three of the most prominent reasons are: increased transparency with validated ledgers trusted by operators and users; to eliminate intermediaries lowering operating costs; and, to establish systems that work on a global basis.”

eXeBlock Founder Jonathan Baha’i

Digital Journal: How popular is blockchain technology set to become with businesses?

Jonathan Baha’i: Blockchain technology is more popular than ever, and new businesses and industries are seeing the potential of this new technological trend every day. Blockchain technology has the potential to revolutionize various industries and means of data storage. Through its easy-to-verify and highly transparent information storage system, blockchain technology is creating a level of trust between consumers and businesses that hasn’t existed in the past.

DJ: How does blockchain work in practice?

Baha’i: Blockchain technology is often praised for its ability to eliminate intermediaries that facilitate a service in exchange for a fee. When you purchase something online, the intermediary is the third party that lets the exchange happen. With blockchain technology, businesses are increasingly abandoning middlemen in favor of a relationship that allows goods and services to be exchanged directly with their customers or peer to peer.

This is possible thanks to the decentralized nature of blockchain. Decentralized application (DApp) developers are greatly helping this movement with the push to create services that are more secure, affordable, and reliable thanks to the fact that they don’t require middlemen.

DJ: How easy is it for businesses to set up the technology?

Baha’i: The fact of the matter is that this technology can be quite complicated to get started with for organizations that are thinking about adopting blockchain-based solutions. For this reason, third party organizations like eXeBlock exist that can aid with the development of decentralized applications. eXeBlock is focused on developing its own proprietary DApps and partnering on the development of other DApps with governments, individuals and corporations worldwide so long as they incorporate certain features, namely; they generate revenues based on pay per use transaction fees, they are scalable with global reach and they offer the advantage of being first to market.

DJ: Will blockchain be very disruptive for businesses?

Baha’i: Blockchain structures will replace traditional ways of conducting business by being more efficient and cost effective. The traditional business structure is simple and easy to understand by business owners and consumers. Typically, business owners determine the product, the price and the delivery method it needs to attract customers and achieve a reasonable profit margin.

DApps built around blockchain technology clearly align the interests between owners and consumers, enabling consumers to participate in profit margins and other aspects impacting the viability of a business as if they were owners in the business. The big difference is that unlike traditional businesses, with DApps there are no owners. This fundamental shift is brought about in DApps through the incorporation of tokens.

DJ: Can you give some examples?

Baha’i: As an example, suppose an entrepreneur decides to build a system to track the sale and authenticity of original pieces of art using blockchain technology. The entrepreneur can either build the DApp on his own or float the idea in a white paper and ask consumers to purchase tokens as a method of raising enough money to cover development and marketing costs. The latter approach aligns the consumer or token holder with the success of the DApp.


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Profesor Giaglis on Blockchain’s Full Potential




While Blockchain has certainly taken the world by surprise, George Giaglis, a professor and expert in eBusiness at the Athens University of Economics believes that the technology is not even close to its full potential, saying that:

“We have not even scratched the surface of the applications that will be possible in a future world augmented by distributed ledger technology.”

He recently spoke to JAXenter about recent events related to Blockchain technology and the importance of its future applications.

Giaglis Says

JAXenter: You are one of the world’s first blockchain pioneers. Why did you decide to give blockchain a chance? What got you interested in this technology?

George Giaglis: When I first heard about Bitcoin and started reading about it, I quickly saw the tremendous potential of blockchains to create a new Internet layer: one in which value can flow as freely as information does in the current Internet architecture. This is a genuinely revolutionary ability, and I still believe that we have not even scratched the surface of the applications that will be possible in a future world augmented by distributed ledger technology, especially when this is coupled with artificially intelligent economic agents communicating and doing business with each other.

JAXenter: You are also the scientific coordinator of the world’s first open online course on cryptocurrencies and the first academic degree in blockchain. What does this degree mean? What opportunities does it offer for those who want to add blockchain to their skill set?

George Giaglis: Both the MOOC and the MSc in Digital Currency offered by the University of Nicosia are world-first efforts to bridge the widening gap between supply and demand for skills on blockchain analysis, design and systems development. We are really proud to have exposed more than 20,000 students from 85 countries on the workings of Bitcoin and the promises of blockchain applications and to have also educated more than 300 graduates and students of our full MSc degree.

Further to our academic offerings, UNIC provides a full range of professional certification courses, aiming to equip today’s professionals with required knowledge or either blockchain business or software development. More information about all our educational products can be found here.

JAXenter: Is there still a global talent shortage for blockchain developers? 

George Giaglis: There is a large, and still growing, such gap. And this should be far from surprising: blockchains are a very recent technology (it was developed in 2008 and did not grasp most of the world’s attention until the mid 2010s), and there is enormous demand for engineering and business expertise without a corresponding base of properly educated engineers, developers, analysts, consultants, regulators, and policymakers.

I think that universities worldwide should make it a priority to bridge this gap by providing relevant programs at all levels (undergraduate/postgraduate teaching and Ph.D./post-doctoral research). The University of Nicosia is working with some partner universities across the globe to help in this direction.

To read more about this interview click here

Little by little, cryptocurrencies receive more criticism and Blockchain recieves more praise as some may say, Bitcoin will die and the Blockchain will survive.

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