Making Cloud mining transparent and controllable. NFT. DAO
BeMine provides the technical advancements required for cloud mining, which will essentially have a positive impact on the distribution of BTC mining and bring cloud mining companies to a managed and transparent model:
NFT-mining
As a technology for keeping track of who owns works of art and other creative items, NFT has already proven to be valuable. NFT is ready for more, though, architecturally. In order to ensure the transparency of the agreements between the owner of the share from the miner's ASIC and the buyer of this share, we want to use NFT. Each miner that NFT issues for ASIC will store information about the actual ASIC, including its model and date of first activation, location, identification number, and the actual contract of responsible storage that governs where this ASIC is kept and how it is connected to the hotel.
WHY NFT?
Transparent and immutable record-keeping: NFTs can be used to track the ownership, provenance, and usage of mining devices, creating a transparent and immutable record-keeping system that can help prevent fraud and disputes.
Cloud mining will go far beyond online platforms
Developing ASIC derivatives: By implementing NFTs, developers can create new ASIC derivatives that are unique and verifiable, which can enable better tracking and management of mining devices.
Secure ownership: NFTs offer a secure way to verify ownership and transfer of ownership for mining devices, enabling better tracking of device usage and reducing the risk of theft.
As a document flow architecture, NFT is an advanced tool which could be easily used in cloud mining.
Programmability: NFTs can be programmed to include certain rules or conditions that dictate how the ASIC can be used, such as mining only certain cryptocurrencies, which can provide greater control over the usage of the mining devices.
Royalty and revenue sharing: NFTs can be used to facilitate royalty and revenue sharing between mining device owners and users, enabling better distribution of profits and creating new business models for the mining industry.
Interoperability: NFTs can be built on various blockchain platforms, making them interoperable across different ecosystems and enabling greater flexibility and adoption.
Enhancing liquidity: By implementing NFTs, mining device owners can create unique, verifiable digital assets that can be traded and exchanged on various blockchain-based marketplaces, enhancing liquidity and creating new investment opportunities.
NFT will allow you to purchase mining capacity not only from the retailer, but also from other users.
Ensuring responsible storage: NFTs can store information about responsible storage agreements, ensuring that mining devices are stored and operated in a responsible and efficient manner, which can help reduce environmental impact and increase operational efficiency.
NFT-ASIC is an opportunity to independently choose on which land to store your capacities.
Advantages of tokenization of crypto mining:
~ tokenization allows you to digitize mining capacities. This turns ASIC machine into a profitable, understandable business for investors;
~ created as a result of tokenization, NFT allows you to provide proof of the authenticity of a digital object and the fact of its ownership; ~Without NFT, it is extremely difficult to verify the legality of the distribution of such machines via the Internet.
NFT Mining Management with DAO
There are numerous mining strategies available on the market. Various vendors, various consensus algorithms, new coins and projects, etc. New models are constantly being introduced to the market to replace the outdated ones. The technologies used in mining are also evolving; we can now turn gas into electricity, use renewable energy sources, and power data-centres with solar energy. The heat produced by ASIC can also be directed, stored, distributed, and used. However, managing a farm in such a situation is a very challenging task. You never know which research area will be successful, and which should be avoided.
In order to optimize the ownership of the data-centres and motivate the owners of computing power, we will offer our customers our own mining pool, the profitability of ownership of which will be determined by the size of the stake in BeMine DAO. The DAO will become a public farm — the owners of shares will have the opportunity to change the composition of the farm, its location, the technologies used in the production of cryptocurrencies, as well as to determine the cryptocurrencies that the DAO will mint. Thus, BeMine will offer the market an unprecedented opportunity for integrated management of a mining farm on a fair basis, guaranteed by blockchain technology.
WHY DAO?
Decentralized decision-making: where each member of the DAO has a say in the management of the mining farm. This can help ensure fair and democratic decision-making, without the need for a centralized authority.
Efficient management: as decisions can be made quickly and without the need for a lot of bureaucracy or paperwork.
The ability to conduct an even more detailed examination of the manufacturer / supplier / mining hotel
Transparency and accountability: as all transactions and decisions made by the DAO are recorded on a public blockchain.
Fair profit distribution: With a DAO, profits can be distributed fairly and transparently among the members, based on the size of their stake.
It is much easier to buy/resell a share from an NFT-farm
Flexibility and adaptability: allowing members to easily change the composition of the mining farm, its location, and the technologies used in the production of cryptocurrencies based on market conditions and changing technologies.
DAO will help to stabilize prices for equipment placement services
Incentives for participation: members have to participate to ensure the success of the mining farm, as their profits depend on the profitability of the farm.
Stabilize prices through a stablecoin: there is another issue with cloud mining services is that the price of electricity can be volatile, affecting the profitability of mining. To stabilize prices, the service is going to create a stablecoin that is pegged to the price of electricity. This would allow users to know exactly how much they are paying for electricity and would eliminate the risk of sudden price changes. The DAO could manage the stablecoin, ensuring that it remains pegged to the price of electricity and that users are charged fairly.
Reduced operational costs: by eliminating the need for a centralized management structure and bureaucracy, and streamlining decision-making processes.
Opportunity for innovation: With the ability to easily change the composition and location of the mining farm, as well as the technologies used, DAOs can provide an opportunity for innovation in the cloud mining industry, leading to new efficiencies and cost savings.
HOW TO DAO?
Community-based decision-making: A DAO that includes all NFT owners of the cloud mining service, giving them a say in the management of the mining farm. Members can vote on important decisions such as which cryptocurrencies to mine, which equipment to purchase, and where to locate the mining farm. Members can also propose new ideas for the service and vote on their implementation. This approach would ensure that the cloud mining service is run democratically and in the best interest of its users.
Stabilize prices through a stablecoin: One issue with cloud mining services is that the price of electricity can be volatile, affecting the profitability of investment. To stabilize prices, the cloud mining service could create a stablecoin that is pegged to the price of electricity. This would allow NFT owners to know exactly how much they are paying for electricity and would eliminate the risk of sudden price changes. The DAO could manage the stablecoin, ensuring that it remains pegged to the price of electricity and that users are charged fairly.
Decentralized risk management: Cloud mining services are exposed to various risks such as equipment failure, power outages, and changes in the cryptocurrency market. To manage these risks, the DAO will create a risk management fund that is funded by all NFT ASIC owners. Such fund could be used to cover any losses incurred by the service due to these risks or vote on how to allocate the funds, ensuring that the risk management is decentralized and democratic.
Real people
The need for maintenance personnel for the farm and the equipment placed on it does not go away. Taking into account the specification of the equipment and the scope of work, high qualifications are required from employees.
The list of required specialties to ensure the efficiency and security of the mining farm:
Security companies
Technicians
Electricians
Installers
Engineers
Managers
Builders
and many more.
TODAY'S POSITIONS
Partner mining hotels throughout Russia and the CIS
The user base is over 100,000 people
Partnership base
Well-established document flow
Experience in transactions with mining equipment in different jurisdictions
A clear understanding of supply and demand
TOMORROW'S POSITIONS
Transparency in transactions for the purchase of mining capacities around the world
Transactions not only on digital platforms, but also offline
Significant inflow of liquidity into cloud mining
Adequate regulation of the price of equipment, in accordance with real supply and demand
Live TeraHash market, systematized based on the geo-location of data-centres
Increasing the rate of Bitcoin network spread
Absolute purity of related documents
Clear terms of service and repair
Fair conditions for mining hotels
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