With 20 megawatts of spare power and a desire to de-dollarize its economy, Russia is moving to take a slice of the Bitcoin mining market with Russian Miner Coin (RMC).
I’ve been chronicling for the past two months the story of how Russian President Vladimir Putin has embraced blockchain technology. Just the other day I told you about the Bank of Russia and the Russian government developing Masterchain, an Ethereum-based system to streamline basic back-office banking and brokerage functions across Russia.
Now, we get the insane news that a Russian company, with strong ties to Putin himself, is developing a new cryptocurrency called Russian Miner Coin (RMC) which will be issued based on leveraging Russia’s immense spare electrical power, 20 Megawatts to be precise, and unheralded but substantial microchip industry to build a massive Bitcoin mining system.
RMC – Revenue Driven Investment
Holders of RMC’s will be paid 18% of…
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