Olga Feldmeier accepted CNN interview with Hannah Wise, and shared her opinions on challenging issues facing Bitcoin scaling solution.

Mining energy consumption and scaling has become a pressing issue facing Bitcoin’s development. The solutions lies in technology innovation, says Olga Feldmeier, CEO of Smart Valor, a decentralized marketplace for tokenized alternative investment.

At the moment, mining produces huge amount of energy consumption due to Bitcoin is based on POW (proof of work), which requires extremely powerful computing operations. Ideally, three elements are needed for a good mining location: cheap electricity, cold temperature and an area that is less populated.

Mining farms have been on the move due to regulatory issues. Many farms moved away from China after last ban in September, 2017. Bitmain, for example, the largest mining company, has set up a Swiss hub beginning of 2018 for more friendly jurisdictions.

As technology moves forward, new protocol structures are being developed as well. POS (proof of stake) and delegated consensus mechanism have been put to use. Ethereum is moving towards POS. It is only a matter of time before we truly solve the scaling issue, according to Olga Feldmeier.

What about the heat generated from mining activity? You are mistaken if you think it is being wasted – people have come up ways to recycle the heat to use for their home and green houses. Smart companies are also working on ways to use solar and wind power for mining purpose. All is changing.

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