Dan Reitzik is the CEO of DMG Blockchain, a multi-faceted company focusing on everything from cryptocurrency enterprise and consumer mining, to fraud protection and blockchain software development.
In his latest interview with Pure Blockchain Wealth, Reitzik discusses key topics that explain how blockchain is being actively integrated into our daily lives, explaining that even the maintenance requirements of our cars will eventually be linked to immutable digital ledgers. Moreover, as government interest in the technology builds and regulations across the sector begins to take shape, Reitzik’s firm is positioned to provide critical support to supply chain management, Know-Your-Customer requirements and financial services.
Reitzik says that his company chose Canada as its base of operations because it is favorable to the Blockchain indsutry, especially as other countries like China begin to crackdown on exchange trading and Bitcoin mining.
80% of all Bitcoin mining occurs in China… When Sheldon Bennet (COO) built Bit Fury’s 58-Mega Watt facility in Calgary it basically opened the world to looking at Canada as a place to do cryptocurrency mining and subsequent blockchain development. And the reason Canada makes sense is we have rule of law here. It’s not like the government is going to come in and try to nationalize cryptocurrency mining like they’re doing in China.
It’s not like an oligarch is going to come take the facility away.
We also have the ideal climate… Ideal conditions for crypto mining are anywhere between -25 Celsius to +25 Celsius… which most of Canada lies within… where our new facility is there are only about 6 weeks out of the year outside of that temperature range.
And finally, we have a very trusted banking system… and because Canadian history, especially as it relates to investment, is based on resources… things like mining of gold and silver and the lumber industry… what happened as a country these small towns would have a mine and would have a need for a bunch of power… so the infrastructure was put in to deliver a large amount of power… maybe the industry or mine is now closed down but the infrastructure is still there… So it’s not just about cheap power, it’s about access to reliable power and Canada already has that infrastructure in place.
As I mentioned China.. We’ve had a few firms call us and a couple show up… with ten, twenty thousand miners that they want to get out of China and have us host here in Canada…
So, I believe Canada will be the global capital of all crypto currency mining within the next 12 to 18 months… And because blockchain software development is very closely tied, I think we have a real chance to be the leader in that space as well.
Watch the full interview from Pure Blockchain Wealth: