How Do Data Center Providers Benefit from Blockchain Technology? “The Key is Where and When You Want to Sell It”

PORTLAND, OR – Bitcoin mining and its underlying technology, blockchain, are more than just in vogue at the moment. Some may say we are entering the era of blockchain. However, that doesn’t mean that everyone in the industry understands what it takes to turn a profit from blockchain, or that every market is suitable for it. At CapRE’s Portland Data Center Summit yesterday, Robert McCullough, Principal at McCullough Research provided some opening remarks for the panel Blockchain, Cryptocurrency and Bitcoin: What Are They and How Do They Impact Data Center Design & Construction? In those remarks, he also provided some context for Portlanders as to what to expect and how to make the most of the blockchain boom. “Everybody here knows that the common understanding of blockchain and bitcoins is minimal, absent, zero, or not even to be mentioned,” began McCullough. “We know they are two entirely different things, and they’re two entirely different markets. “Invasion of the Power Snatchers” was the headline of a rural, electric power journal that is distributed to many farmers and coops. I love that headline. And they said that they were going to prevent these firms from coming into their county.” So, how did we get here? “Well there were two innovations,” he explained. “First of all is blockchain – which is very useful. It’s not yet tested in terms of economic competition, but it’s certainly an interesting concept. Then we have mining. This…