China: Bitcoin Miners Busted, Blockchain Tourism Initiative Launched

Source: iStock/AlexBrylov Elsewhere in the country, AFPBB accounts that Jiangsu Province authorities have arrested 13 individuals for stealing USD 2.8 million worth of power in the power plant -- with the energy to power a gigantic Bitcoin mining strategy. The group is accused of running the operation that was complex from May 2017 for 2 decades to May 2019. Prosecutors say the group leased office space in 10 factories away from the city of Zhejiang City, and rather than use electricity in the factories that they had been occupying, instead diverted power from a big selection of nearby offices in a bid to throw electricity authorities off the scent. The information outlet states that buyers are going to be able to make an application for blockchain-powered invoices using smartphones, and receive the new invoices in their mail inboxes within two days. The project operators state that the blockchain technology which they will use"makes it impossible to tamper with bill information, and will save substantial expenses of printing traditional paper bills for the tourist attractions in the state." But, prosecutors state that authorities finally noticed that power usage in the area was after unusual routines, and tipped off the authorities, who finally succeeded in closing the internet on the gang.
Released at Mon, 22 Jul 2019 04:43:16 +0000 Curiosity in most things cryptocurrency-related and blockchain stays high in the Middle Kingdom, although china's crypto-crackdown stays firmly in position. Feb Xinhua, tourists and tour operators seeing attractions in the Yunnan Province will soon be able to acquire blockchain-powered invoices for mobile and online payments. As mentioned last week, a recent judgment by a Chinese online court appears to have given Bitcoin some sort of legal footing in the country, recognizing it as"virtual land "