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Blockcast.cc: Good evening Pius. My name is Melody. Thanks for meeting us. Shall we start off with some simple questions. Please introduce yourself to our readers.
Pius: Hi Everybody, my name is Pius Lam, and I am the CEO and the Founder of Blockchain Applied Technology Ltd. From the name of the company, you can know that we are doing something related to Blockchain. Yes, the major business that we are doing right now is to build crypto mining farms. Crypto mining is notorious as it consumes a lot of energy. The power it consumed in 2018 was more than the whole country of Czech Republic’s annual power consumption and the numbers are growing. And, that is the reason we want to create a different way of crypto mining by using green energy.
Blockcast.cc: Our readers are interested in mining projects. Can you tell us more about your project?
Pius: Our project is called BatMine. BatMine will open a professionally built and operated crypto mining center in the European Union using co-developed miners with the highest hash power up to 55THs and green energy with lowest electricity rates available. The mine will, depending on how much we raise, start with up to 10,000 miners. The miners will be housed in environmentally and economically optimized locations with climate control. BatMine has chosen to use the Silent Partnership legal framework resulting in contractually guaranteed fixed 30% profit sharing rights for ICO investors for a period of 10 years and gifted tokens in the ratio 750 BATM Tokens for each one ETH invested. BATM tokens are gifted next to the Silent Partnership investment but have a strong use for themselves. BATM tokens can be exchanged for hash power on our platform within MaaS (Mining as a Service) and that is the only way how to obtain hash power within MaaS (through BATM).
Blockcast.cc: What are your views on the blockchain market?
Pius: When it comes to blockchain technology I am very impressed with all the developers at Ethereum, I think it’s important to keep accountable and even though the Constantinople hardfork will postpone the difficulty bomb (EIP1234) I perceive as important that they are still keeping their projected direction and do pressure themselves to deliver the Casper protocol implementing PoS as soon as possible. Ethereum classic for example deactivated the difficulty bomb a while ago which I do not consider wise. Other projects I really like are Ripple and EOS even though both have their drawbacks especially when it comes to the decreased decentralisation within both projects – with EOS having only 21 nodes and ripple not really even being a blockchain. Bitcoin is of course the first one that started it all but to be fair at this point it is a slow blockchain that will not be able to accommodate all the upcoming transactions as blockchain gets more implemented into our everyday lives. Also, what happens to Wanchain is an interesting thing for the future for me to see.
Blockcast.cc: How about your views on the crypto market?
Pius: Crypto itself is still recovering from the bubble burst that we experienced in January 2018. The way ICOs worked at that time reminds me of the boom of “Internet Stuff” … the “get rich quick” scheme that we experienced in about 2000. Everybody was throwing money at everything, building companies offering internet services with not much use just trying to milk it while it was still there. And that is exactly what happened with yet another huge phenomenon like internet was … the blockchain technology and with it ICOs, history really does repeat itself. But such as after the craziness in 2000 people are now starting to realise that we have to take things slow and prepare these projects thoroughly if we want build something great. Decentralisation as blockchain implemented it is an important innovation and could change the world, we just need to take it from the correct angle. BatMine is here to be part of that change in the most efficient way possible. Current biggest problem is the cost and environmental impact due to heavy energy usage for mining. That is why we use predominantly green energy and use facilities with access to low energy rates, to make mining sustainable for the future.
Blockcast: Last but not least, share with us a quote.
Pius: This is my quote.
“Blockchain and Cryptos are the future, but green energy are our needs.”
Blockcast.cc: Thank you for your time Pius. We wish you all the best.