#Cloudrush CEO

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Cloud Rush CEO Bruce "The crypto economy will become the mainstream economic form in the future"

As AI technology and blockchain technology have a good development foundation, some representative application ecosystems have emerged in the fields of deep learning, intelligent identification, distributed storage, blockchain traceability, and industrial chain management. Blockchain technology builds a new trust system through the technical characteristics of decentralization, openness, transparency, and non-tamperability.

Recently, discussion on the future of blockchain has been done with Cloud Rush CEO Bruce li.

Cloud Rush is an emerging American technology company dedicated to global development in multiple industries and fields. It is exploring the potential of blockchain applications and the distributed storage market. Cloudrush describes itself as a pioneer in the blockchain gold rush.

Cloud Rush announced last month that it had accepted an investment from the Singapore Foundation CR Capital for the construction and research of a distributed storage platform.

Why Cloud Rush chose to enter the field of blockchain

Burce explained that a huge open market is emerging globally, with open financial markets, industrial chains, supply chains, and technology. These links will face a problem, that is, trust, and the logic of blockchain technology meets this demand. At the same time, the Covid-19 epidemic has also accelerated the development of blockchain technology and the application of encryption economy.

Talk about your views on the crypto economy

Burce said that the impact of the Covid-19 epidemic on the global economy is huge, especially in regions with rapid economic growth such as Europe and the United States. A large number of workers are unemployed, large companies and the government have suspended their work, and the number of unemployed in the United States has exceeded 9 million. People unable to earn income and unable to guarantee a normal life is a hidden danger to the world. The development of the crypto economy has not only alleviated high inflation, but more importantly, people seek sources of income through the crypto economy. Whether it is cryptocurrency or NFT assets, they have formed the most direct income method. Therefore, you can see that since the outbreak of the Covid-19 epidemic, the crypto economy has poured in more participants. What's more interesting is that according to the theory of blockchain, the more participants there are, the fairer the market and the better the ecological development.

Currently, there are two types of cryptocurrencies, one is BTC and Chia, which are used as online payment methods. The other is ETH, FIL, etc., which will be applied to all aspects of their own ecology. BTC has actually become an effective currency in the eyes of major investment institutions and central banks, and other useful cryptocurrencies are also developing in an orderly manner. I believe that the crypto economy will become one of the mainstream economic forms in the future.

What are your experiences before entering the blockchain industry

After graduation, Burce stayed on Wall Street in the United States because of his great interest, and worked successively in investment banks and large investment institutions. Speaking of his experience on Wall Street, Burce said very emotionally that he faces pressure and challenges of working more than 100 hours a week.In 2001 to 2008 was the golden age of finance, and the US capital market developed rapidly.

The Internet bubble of 2000 and the financial crisis of 2008 had the greatest impact on Burce's personal and career. After experiencing the financial turmoil, Burce deeply realized that traditional finance has great limitations. Therefore, he chose to enter the blockchain industry and become a pioneer in the blockchain industry.

What is the future development direction of Cloud Rush

At present, Cloud Rush has launched a global super computing platform based on AI technology, empowering the technology industry to realize blockchain reform and promoting the rapid growth of the global distributed economy. It also provides a variety of blockchain design solutions such as the construction of the underlying blockchain, the incubation of blockchain projects, consulting services, the computing power of the blockchain, the incubation of mining pools, and the aggregation of calculation examples.

In the future, Cloud Rush will provide services such as IC design, chip research and development, IC manufacturing, server construction, mining machine research and development, packaging and testing, and cloud solutions in the field of artificial intelligence and blockchain.

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Cloud Rush helps Chinese miners go overseas

Since the full implementation of the 519 policy, large-scale Chinese miners have faced migration issues.

According to relevant data, China has the largest volume of Bitcoin mining in the world, accounting for about 70%, followed by the United States. Basically, miners choose places with cheap electricity prices and abundant site resources when they migrate. According to the previous overseas mining layout, North America, Russia, and Central Asia have become the preferred destinations for most of the miners going to sea.

However, as many countries have become increasingly strict with Bitcoin mining policies, can they still going oversea and where can they go has become the most concerned issue of the miners.

Recently, in Kyrgyzstan, where the cost of electricity resources is relatively low, the National Security Council of the country discovered a large illegal mine hidden in a private house. The raid confiscated 118 Bitcoin mining machines. The authorities stated that large-scale Bitcoin mining has caused huge damage to the country’s power grid where a wave of power shortages has occured.

Including Iran, which has also released related policies recently. Iran’s state-owned power generation, distribution and transmission company Tavanir issued a warning about the entry of Chinese cryptocurrency miners into Iran and banned Bitcoin mining that consumes electricity resources.

Due to the favorable climate and abundant thermal power resources in Russia, Russia’s policies are not much different from China’s in this respect in the face of China’s strong regulatory measures. Moreover, the resources used for mining are not clean energy, which is contrary to the country’s policy of responding to global energy conservation and environmental protection. Hence, Russia is not the preferred place.

Furthermore, factors such as tariffs and freight costs for equipment going overseas need to be considered, and most importantly, whether the national policy supports mining.

According to Bitcoin Magazine, as many as eight Chinese Bitcoin mining companies are planning to move their operations to Paraguay. Juanjo Benítez Rickmann, CEO of Paraguayan mining company Digital Assets S.A., stated that one of the companies is installing 90,000 Bitcoin mining equipment. In addition, there are other unnamed companies have contacted Paraguayan miners.

Paraguay’s policy on Bitcoin mining is relatively loose, and electricity prices are relatively cheap. It is also one of the countries that have publicly expressed support for Bitcoin mining. In another country, Argentina, the electricity bill is very cheap due to government subsidies. In addition, as the foundation of the miners are very good, there are some miners have settled in. However, Argentina has extremely strict control over equipment imports, and the country’s inflation is very severe, so it is not the best choice to go.

If it is a large-scale mining company going overseas, in addition to the aforementioned issues of whether the national policy permits, whether energy is sufficient, electricity prices and customs transportation costs, etc., the site must also be considered as self-built mines need to know whether there is a site to support the construction. The current period of self-built mines in North America is relatively long.

In general, the situation in Kazakhstan, Paraguay, and the United States is relatively suitable. The popularity of South America is also quietly increasing.

The American innovative technology company Cloudrush has teamed up with Cyxteara, the second largest data center in the United States, to use clean energy to help mining machines enter major states in the United States. Regardless of the size, equipment can be hosted in Cyxtera, and enjoy complete security system, dual power supply, dual loop uninterrupted air conditioning system, real-time monitoring, 7*24 hours operation and maintenance and other services to welcome Chinese miners to settle in Cyxtera.

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