THELOGICALINDIAN - European activity behemothic Akers attack into Bitcoin agency abundant added than what meets the eye
Aker is one of the aboriginal companies to activate exploring Bitcoin’s use as an “economic battery” afterwards advance $58 actor in its BTC-focused subsidiary Seetee.
Bitcoin as an Economic Battery
Aker ASA’s buyer Kjell Inge Røkke bound his thoughts on Bitcoin in a 23-page broker letter, accoutrement Bitcoin’s appliance in the banking and activity sector.
The 62-year old billionaire believes that Bitcoin could be several things from a banking apparatus to an activity battery.
According to Røkke, Bitcoin can be acclimated as a accumulator accessory to access renewable activity sources’ efficiency.
The botheration with renewable activity like solar, wind, or hydroelectric ability is that they are generated in alien areas. The manual and accumulator of renewable activity is the better roadblock to its growth.
While Bitcoin cannot angle physics laws to run a baptize heater, the mining action can catechumen the balance electricity to Bitcoin. This stored amount in bread-and-butter batteries can be acclimated to calibration renewable activity plants.
Aker is not the aboriginal electricity ambassador to acquaint Bitcoin mining to advance amount efficiency. Iran and Russia accept accustomed agnate Bitcoin mining plants abreast bounded plants.
In the past, companies in Japan and Australia accept additionally attempted to move P2P activity trading application blockchain.
Promoting Micropayments
Røkke has included excerpts from his own adolescence and aboriginal ambitious canicule to explain the accent of advance and how he absent the internet revolution. Bitcoin, in his viewpoint, is still in its aboriginal days.
Still, the adept agent is additionally not absent to Bitcoin’s scalability problems and the limitations imposed by its supply.
Bitcoin’s architecture reduces the mining accolade every four years in an accident alleged a “halving.” Because of this event, miners will anon lose the allurement to abundance BTC. Røkke states that “fees are the alone viable abiding compensation mechanism.”
Blockstream and Lightning Labs are aggravating to fix this with corresponding solutions like the Lightning Network and Liquid Network.
Seetee will use “Blockstream’s Liquid and Elements products for industrial applications: foreign exchange, banknote management, barter settlements, emission verifications.”
Finally, Røkke said that Bitcoin already leads gold in 30% beneath CO2 emissions as a abundance of value. While not absolutely assertive that Bitcoin can degrade gold, he absolutely believes that Bitcoin has added upside abeyant than gold in the future.
Disclosure: The columnist captivated Bitcoin at the time of press.
