Nathaniel Harmon teaches why Bitcoin and cryptocurrency mining is resource intensive, and what critics say about the environmental impact.
About this event
Brought to you by the Hawaii Technology Development Corporation (HTDC), Digital Currency Innovation Lab (DCIL) and Entrepreneurs Sandbox, "DCIL Presents:..." is a series of webinars and events designed to educate and raise awareness around virtual currencies.
For this upcoming session, you will learn why Bitcoin and cryptocurrency mining is resource intensive, and why critics say the environmental impact is not worth the benefits of digital currency. Then, hear how those impacts can be mitigated, and how Hawaii is uniquely positioned to be part of the solution.
REGISTER HERE
by Wednesday, 7/27 at 5pm. After registration closes, we will send a Zoom link to all registered participants. If you are unable to register, please contact Shane at info@sandboxhawaii.org to be added to the waitlist.
Bitcoin, Energy, and Hawaii
Bitcoin mining, also known as Solving the Bitcoin Proof of Work, is incredibly energy intensive, and has been the focus of a great deal of criticism of cryptocurrencies in general. We will explore the idiosyncrasies of Bitcoin mining, renewable energy, and how Hawaii is well positioned to play a part in a better way.
The webinar will start with a high-level overview of how Bitcoin mining works and the economics that follow. Then we'll review the basic concepts of renewable energy generation. Following this, we will examine the geographic distribution of large-scale crypto mining operations and how the regional energy portfolio influences it. Drawing parallels to Hawaii, we'll look at the role our unique geography plays in how we power our society and the issues that arise. Finally, we will look at historical data from Hawaiian Electric and the Bitcoin network.
Ultimately, we hope to demonstrate how Bitcoin, counter intuitively, can complement Hawaii's current situation, reducing the cost of energy and provide an economically attractive and politically viable path to 100 percent renewable energy.
About Nathaniel Harmon:
Nathaniel has been involved with bitcoin since 2013, and founded Blockchain Solutions Hawaii (BSH) in 2018, with the goal of creating "Hawaii's Blockchain Helpdesk." combining his passion for cryptocurrency with his newly-acquired degree, an M.S. in Marine Geology and Geochemistry from the University of Hawaii at Manoa. Through BSH, Nathaniel provides consulting and educational services to businesses, individuals, and legislators alike. He meanwhile pioneered a Zero-Knowledge on-boarding security service and developed commercial grade software ecosystems for second-layer Bitcoin solutions using Sidechains and the Lighting Network.
Nathaniel contributes to numerous open-source projects in the space to collaboratively advance the industry, and he believes that Hawaii's geographical location makes it the ideal location for Bitcoin-based industry to reduce our reliance on tourism and finance our transition to 100 percent renewables.
Finally, In 2020 Nathaniel and his wife, Kristen Harmon, also founded the Hawaiian Islands Conservation Collective in an effort to harness locally educated scientists to restore native ecosystems.
About the Organizers:
The Digital Currency Innovation Lab (DCIL) is a pilot program by the State of Hawaii. The program allows digital currency issuers to do business in Hawaii without obtaining a state money transmitter license. www.htdc.org/programs/#dcil-section
Hawaii Technology Development Corporation (HTDC) is a state agency under the State of Hawaii Department of Business, Economic Development and Tourism. Our mission is to diversify Hawaii's economy by developing a flourishing technology industry that provides quality, high-paying jobs for Hawaii residents. www.htdc.org
The Entrepreneurs Sandbox is a co-working facility in Kaka'ako, owned by HTDC and managed by BoxJelly. As the "front door to innovation", our mission is to bring together change agents in Hawaii to enable transformation for a more dynamic Hawaii through technology and entrepreneurship. www.sandboxhawaii.org
Disclaimers:
The views expressed by speakers or other third parties in HTDC webinars or events are those of the speaker or third-party and not necessarily of HTDC or the State of Hawaiʻi.
With regard to any information presented at any HTDC webinar or event, HTDC does not make any warranty, express or implied, including the warranties of non-infringement of third party rights, merchantability, or fitness for a particular purpose, and specifically disclaims any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, product, service or process presented.
The presentation of any material or information regarding any specific opinion, commercial product, process, or service, or the use of any trade, firm or corporation name, is for the information and convenience of the public only and does not constitute endorsement, recommendation, or favoring by HTDC or the State of Hawaiʻi.