Armenia news

Published a document that crypto adoption is not advisable. Country has proposed legislation to legalize crypto mining. Last updated: March 1, 2018.

World latest news

Armenia to Become a hub for Blockchain Expertise

ChainPoint 18 International Blockchain Conference was successfully launched on November 14-15 in Yerevan. The conference was organized by “Nooor” Armenian Blockchain Association. Hakob Arshakyan, the Minister of Transport, Communication and IT of RA, spoke at the opening ceremony. The Minister highlighted the importance of constantly empowering the Armenian tech ecosystem. Notably, application of blockchain and organization of such conferences present the significant part of it. Vigen Arushanyan, the President of the “Nooor” Armenian Blockchain Association, welcomed participants. “This conference is different in its approach and is set to become world renowned platform for connecting with the thought-leaders, successful entrepreneurs and trendsetting experts to outline the future together”. Clear legislative regulation is needed for the development of IT and Blockchain technology in particular, according to him. During the plenary sessions, panelists agreed that Armenia has a great potential for the development of Blockchain and its applications, and that can be empowered by introducing a corresponding legislation and that during the next year there will arise plenty of successful projects here. On the first day of the conference, a tripartite cooperation agreement between blockchain associations of Armenia, Russia, and Iran was signed. “Mutual consultations and expertise sharing are to be held under the framework of the agreement. Such cooperation shows that international blockchain community considers Armenia both as a knowledge hub and as the most active player in blockchain development in the region”, – says Vigen Arushanyan. Memorandum of understanding between Armenian and Ukrainian associations was also signed within the framework of ChainPoint 18. During the second day of the conference, 8 Armenian startups were pitching in front of international investors. More than 100 local and international organizations supported the event together with the general partner of the event – Armenian startup fasttoken. The conference was unique in the region, in terms of the format, speakers and the variety of topics covered. Nooor has announced that the conference will be organized annually. The post Armenia to Become a hub for Blockchain Expertise appeared first on ZyCrypto.

Blocktech launches partnership with French University of Armenia to research cryptoeconomics and curation markets

NEW YORK, Nov. 7, 2018 /PRNewswire/ -- Blocktech, the New York-based blockchain technologies company, and the French University of Armenia (UFAR) have announced that they are partnering to launch Armenia's first academic Blockchain Lab. The lab will conduct interdisciplinary research into the crypto-economic implications of blockchain technologies, in collaboration with the university's departments of Finance and Law, as well as the newly formed Department of Informatics and Applied Mathematics. The research will cover topics relating to decentralized application architectures, including smart contract development, bonding curves, token-curated registries, oracle and curation services on the Zap platform, and crypto-economic design patterns. "The rise of blockchain has ushered in an entirely new ecosystem of commoditized trust," said Nick Spanos, the CEO of Blocktech, who also founded the Bitcoin Center in New York City in 2013, the world's first live cryptocurrency trading floor (prominently featured in the Netflix documentary "Banking on Bitcoin"). "Cryptoeconomics is the umbrella field through which we study human behavior and systems design in our new decentralized world. UFAR is the perfect partner for tackling this vital area of research." Through the Blocktech-UFAR partnership, students at the university will be able to take courses in blockchain and cryptocurrency, both from technical and business angles, and will be mentored by industry technologists while working on real-world projects. "Technology is a major priority for the French University of Armenia heading into the next decade," said Kristina Sargsyan, Ph.D., from the Department of Informatics and Applied Mathematics, who is also the university's Program Coordinator for Industry Partnerships. "We are honored to partner with Blocktech given Nick ...Full story available on

Grand international blockchain conference ChainPoint to take place in Armenia this November

The next remarkable blockchain conference – ChainPoint, will take place on November 14-15 in Yerevan, Armenia, the innovation powerhouse of the region. The goal of ChainPoint is to showcase business opportunities of the regional tech ecosystem by bringing together global blockchain professionals and creating a platform for for productive dialogue and sharing the best practices. The conference is organized by Nooor – Armenian Blockchain Association. More than 30 speakers and 350 participants from over 10 industries, including the financial, technology, media, telecommunications, manufacturing, energy, agriculture, etc., will attend the conference to provide first-hand expertise, large scale networking and strategic partnerships. Prominent crypto-thinkers, leading trendsetters, and game-changing industry experts will leave no stone unturned, sharing industry best practices during a two-day program. Program topics will include: Blockchain development prospects in Armenia; Regulatory frameworks; Blockchain & fintech trends; Tokenization; Intellectual property rights and blockchain; Art and blockchain. ChainPoint is a great hub of opportunities: for investors to discover new promising startups, for mining companies to connect with energy sector representatives, and for entrepreneurs to find potential markets. Renown experts will share the newest regulatory approaches to blockchain, ICO companies will access fundraising opportunities, etc. Registration is now open at: The Organizer: Nooor – Armenian Blockchain Association is a non-profit organization, which unites and supports blockchain enthusiasts, experts, developers, businesses, and startups from various spheres; helping them integrate into the international blockchain community. Strategically focusing on 4 areas (community/network building, education, policy making, entrepreneurial support), Nooor cooperates with state bodies, trade organisations, businesses, and individuals from various industrial sectors to develop revolutionary solutions through blockchain technologies. A unique cultural program will spice up the unforgettable experience at ChainPoint, catching the mysticism and presenting the heritage of the country. With sightseeing tours set to take place around the 2800 year old city of Yerevan, combined with the hospitality of the Armenian people and their cuisine, the participants will have yet another chance of networking in a non-formal and cheerful environment. The venue of the conference is a very special one – the museum-institute of Komitas. An erudite performer, composer, teacher and lecturer: Komitas, being the first ethnologist of spiritual and national Armenian music, has always been distinguished by his originality – some excerpts from his work seem to come from the pen of a modernist or avant-garde. Nowadays, revolutionary approaches in art often cannot go without the use of newest technologies. The country: For centuries, Armenia has been at the crossroads of cultural trends, intellectual thought, groundbreaking research, and incredible inventions. In sync with the innovative developments of the world, Armenia sets a new wave of technological growth, putting special emphasis on the emerging technologies, such as blockchain. In this cross point of antiquity and innovation, ChainPoint will raise this wave to its peak uniting international and local blockchain communities and combining the world-class expertise, potentials and ideas for synergetic grow. The post Grand international blockchain conference ChainPoint to take place in Armenia this November appeared first on Bitcoin Garden.
Bitcoin Garden

World’s Largest’ Mining Farm Opening Brings Government and Business Leaders Together in Armenia

A new mining farm was recently opened in the country of Armenia, which is not widely known for mining cryptos. News Armenia, a local news source, has reported that the event was so important that it was attended even by the Prime Minister of Armenia, Nikol Pashinyan. The mining farm will be the result of a joint venture made by a major Armenian conglomerate called Multi Group and Omnia Tech, an international mining firm. About $50 million USD was invested to turn this idea into a reality and the farm already has 3,000 Bitcoin (BTC) and Ethereum (ETH) ASIC miners with a capacity for 120,000 of them in the near future. Multi Group was created by Gagik Tsarukyan, founder of the Tsarukyan Alliance. He represents the second largest parliamentary bloc in the country with 27 percent of the seats after the last election, which happened last year. His company, Multi Group, employs over 25,000 people via many of its subsidiaries The Launch The official launch of the mining farm was attended by many important guests including the Prime Minister, as we have affirmed, and the key personnel of the companies involved in the creation of the facility. Several international businessmen were also reported to be a part of the event, with guests from almost 40 countries, News Armenia reported. During the launch, Tsarukyan has affirmed that this is a very important step for the development of the sector in Armenia and that the representatives from many countries were interested in finding new ways in which to invest in the Armenian economy to expand its basis of cooperation. Before this date, the Prime Minister of Russia, Dmitry Medvedev, which was not present at the event, has suggested that all the countries from the Eurasian Economic Union, which includes Armenia, should be a part of a unified crypto regulatory approach. At the moment, however, regulation of cryptos is still in a very gray area both in Armenia and Russia. Controversies with Omnia Tech Omnia Tech, one of the two companies that financed the project, is not without controversies, though. The company owns mining equipment and it was reported to work together with Genesis Mining in the past. However, the company was also accused of misappropriating the Genesis brand several times. The case is very similar to the recent Tron controversy in which the founder of the Tron Foundation, Justin Sun, has affirmed that the company had a partnership with Baidu when the company was actually just a client. In this case, Genesis was also a client of Genesis Mining, not a real partner, but it marketed their relationship this way. Another case happened when the researcher Chris Kubecka has accused Omnia of being a pyramid scheme in May. He did not prove his accusations, though.
Bitcoin Exchange Guide

$50 Million Bitcoin Mining Farm Opens in Armenia

A new cryptocurrency mining facility opened in Armenia on Oct. 18. The $50 million farm will extract bitcoin and ethereum using 3,000 machines, according to local media reports. Around 120,000 more miners are to be added in the months to come. Also read: Marks Jewelers Now Accepts Bitcoin Cash For Payments Multi Group and Omnia Establish Landmark Armenian Mining Facility The mining project, spearheaded by Armenian real estate investment company Multi Group Concern and Malta-registered Omnia Tech International Company, was officially launched in the Armenian capital of Yerevan on Thursday. The country’s Prime Minister Nikol Pashinyan, businessmen and entrepreneurs from China, South Korea and the United Arab Emirates attended the ceremony, Arka News Agency reported. Gagik Tsarukyan, an Armenian businessman and politician who is also founder and head of Multi Group, said the company spent $50 million creating the facility, including the installation of industrial level cooling systems. The farm’s first floor is designed for an information technology business center that runs around the clock, he explained. According to an earlier statement by Multi Group chief executive Sedrak Arustamyan, the farm will be operated by Omnia Tech, a mining entity that offers lifetime contracts and daily payouts. Omnia Tech has said to be in partnership with Genesis Mining, a leading cryptocurrency hashpower supplier. “We will also help Omnia Tech with the establishment of the Financial Technology Park and the data exchange center in Armenia,” Arustamyan said in April. Robert Velghe, Omnia Tech founder, indicated at the time that the two companies were planning to invest more than $2 billion in mining projects in Armenia. “We intend to create here a blockchain-based center for the development of new information projects, which will turn Armenia into a high-tech platform,” he said.  Global Cryptocurrency Mining Operations Rise Armenia is aiming to create its own Silicon Valley by establishing a free economic zone that will host a state-of-the-art technology center, officials have said. The new mining facility, the country’s first, comes at a time when a number of countries are implementing and expanding blockchain technologies. Georgia, Armenia’s neighbor, set up its first bitcoin mining farm two years ago. In August, Russian company Kriptoyunivers announced it had transformed a former fertilizer laboratory into a cryptocurrency mining operation. The center, which supports the mining of bitcoin and litecoin, was built over 4,000 square meters of land in the town of Kirshi near St. Petersburg, with an investment of 500 million rubles ($7.4 million). Although Moscow has cracked the whip on illegal attempts at cryptocurrency mining, Russia is still the third largest cryptocurrency producer in the world after China and the United States. What do you think about the new mining facility in Armenia? Let us know in the comments section below. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi Pulse, another original and free service from The post $50 Million Bitcoin Mining Farm Opens in Armenia appeared first on Bitcoin News.
Bitcoin News

Armenia Inaugurates First Large-Scale Crypto Mining Farm

The tiny Eurasian country of Armenia inaugurates one of the world’s largest cryptocurrency mining farms, jointly built by Armenian-based holding company Multi Group Concern and Swedish crypto mining leader Omnia Tech Limited. Also see: Gemini Dollar Soars, Public Slinging Match Over Unaudited Stablecoins Ensues Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts $50 Million USD Mining Farm to Mine Bitcoin and Ethereum According to local news outlet Yerkramas, the newly launched facility is the country’s first sizeable crypto mining farm, set to initially house 3,000 bitcoin and Ethereum mining rigs. The venture soon aims to add another 9,000 cryptocurrency mining rigs. Reportedly, the mining farm will be allocated 50MW from a thermal power plant, with provisions to increase it to 200MW. The mining facility is based over a two-floor structure, whereby the first level will be used for administrative purposes with the second level reserved for mining equipment. Initially, the project will focus on mining two of the biggest cryptocurrencies by market cap, bitcoin and Ethereum. Reportedly, the entire project is estimated to cost $50 million. The new mega mining facility aims to put Armenia on the crypto mining map. Information about the project was first made public in April by Omnia Tech’s Robert Velghe, who revealed that the company was building one of the world’s biggest crypto mining farms in collaboration with Multi Group Concern. As the local partner, Multi Group Concern’s responsibility will be to provide the infrastructure facilities and technical support. In April, Velghe stated: “We intend to create here a blockchain-based center for the development of new information projects, which will turn Armenia into a high-tech platform.” Cryptocurrency Is Important to Armenia The significance of the crypto mining project was evident, as the inauguration ceremony held in the capital Yerevan was attended by Armenian Prime Minister Nikol Pashinyan and Multi Group Concern founder Gagik Tsarukyan, said to be a government-connected oligarch. The opening ceremony was also attended by a number of business people from the United Arab Emirates, China, and South Korea. Billionaire Tsarukyan said: “Within two days, most of the guests will arrive in Armenia from almost forty countries. This is an important step towards the development of the information technology sector, especially since representatives of foreign business circles are planning to meet with government members to find out the possibilities of new and more ambitious investments In the Armenian economy and expanding the base of cooperation.” Prime Minister Pashinyan’s presence at the event clearly indicates that Armenia is fertile crypto land and, as such, the government aims to attract crypto business from around the world. The Region Is Becoming Significant Eurasian countries are cruising slowly towards mining cryptocurrencies due to the abundance of natural resources to power mining farms. Neighboring Georgia has been in the spotlight as one of the biggest crypto mining players in the region. Bitmain and Bitkan recently hosted the inaugural World Digital Mining Summit in Tbilisi. Meanwhile, Armenia has not been lagging far behind, with recent reports suggesting that the Armenian Blockchain Forum is mulling developing an economic free zone to foster international blockchain and AI projects. Do cryptocurrencies offer sustainable economic growth opportunities for Eurasian countries? Share your views in the comments section below. Images via Pixabay The post Armenia Inaugurates First Large-Scale Crypto Mining Farm appeared first on Bitsonline.
More news sources


Hot news

Hot world news

Stellar Price Analysis: Grayscale Announces XLM Based Trust; XLM/USD Stuck Within Bearish Structure

Global digital asset management firm, Grayscale, has announced an investment vehicle based around XLM. XLM/USD is moving within the confinements of a bearish pattern structure, subject to a breakout south. XLM/USD has been subject to very narrow and choppy trading, which has been going on for the past eight sessions now. Price action is moving […] The post Stellar Price Analysis: Grayscale Announces XLM Based Trust; XLM/USD Stuck Within Bearish Structure appeared first on Hacked: Hacking Finance.

Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust

Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust Digital currency investment group Grayscale confirmed it had successfully launched its latest fund, dedicated to Stellar’s Lumens (XLM) token, in a tweet Jan. 17. Grayscale, which now operates nine cryptocurrency funds, timed the move to coincide with a change of image for its products, renaming all its […] Cet article Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust est apparu en premier sur Bitcoin Central.
Bitcoin Central

Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project

CoinSpeaker Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project Until now, everybody has been talking about Bitcoin, the most popular and widely used digital currency. However, Bitcoin is unable to process thousands of transactions a second. Researchers from the Massachusetts Institute of Technology (MIT), UC-Berkeley, Stanford University, Carnegie Mellon University, University of Southern California, and the University of Washington have decided to fix such a weakness and develop a crypto asset better than Bitcoin. The researchers are working together as Distributed Technology Research (DTR), a non-profit organization based in Switzerland and backed by hedge fund Pantera Capital. The first initiative of Distributed Technology Research is the Unit-e, a virtual coin that is expected to solve bitcoin’s scalability issues while holding true to a decentralized model and process transactions faster than even Visa or Mastercard. Babak Dastmaltschi, Chairman of the DTR Foundation Council, said: “The blockchain and digital currency markets are at an interesting crossroads, reminiscent of the inflection points reached when industries such as telecom and the internet were coming of age. These are transformative times. We are nearing the point where every person in the world is connected together. Advancements in distributed technologies will enable open networks, avoiding the need for centralized authorities. DTR was formed with the goal of enabling and supporting this revolution, and it is in this vein that we unveil Unit-e.” According to the press release, Unit-e will be able to process 10,000 transactions per second. That’s worlds away from the current average of between 3.3 and 7 transactions per second for Bitcoin and 10 to 30 transactions for Ethereum. Joey Krug, a member of the DTR Foundation Council and Co-Chief Investment Officer at Pantera Capital, believes that a lack of scalability is holding back cryptocurrency mass adoption. He said: “We are on the cusp of something where if this doesn’t scale relatively soon, it may be relegated to ideas that were nice but didn’t work in practice: more like 3D printing than the internet.” The project’s ideology is firmly rooted in transparency, with a belief in open-source, decentralized software developed in the public interest with inclusive decision-making. The core team of the project is based in Berlin. To solve the scalability problem, DTR has decided to develop the Unit-e with parameters very close to Bitcoin’s design, but many things will be improved. Gulia Fanti, DTR lead researcher and Assistant Professor of Electrical and Computer Engineering at Carnegie Mellon University, commented: “In the 10 years since Bitcoin first emerged, blockchains have developed from a novel idea to a field of academic research. Our approach is to first understand fundamental limits on blockchain performance, then to develop solutions that operate as close to these limits as possible, with results that are provable within a rigorous theoretical framework.” The launch of the Unit-e is planned for the second half of 2019. Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project

BitPay CEO Says Bitcoin Is Solving Real Problems Around the World

BitPay co-founder and CEO, Stephen Pair, has recently commented that Bitcoin (BTC) is solving several issues around the world. He said that in a press release uploaded a […] The post BitPay CEO Says Bitcoin Is Solving Real Problems Around the World appeared first on UseTheBitcoin.
Use The Bitcoin
By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.