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Ethiopia wants to be the new giant of Africa; they have the population and heritage, as never colonized

By
Paul Ugbede Godwin
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0

Ethiopia is a country with a rich history and a large population. It is one of the few African nations that was never colonized by European powers, and it has a strong sense of national identity and pride. Ethiopia is also a country with ambitious goals and aspirations. It wants to become the new giant of Africa, a regional leader and a global player.

I will explore some of the factors that make Ethiopia a potential powerhouse in Africa, and some of the challenges and opportunities that it faces in achieving its vision. I will also discuss how Ethiopia can leverage its strengths and overcome its weaknesses to realize its full potential.

Ethiopia has several advantages that give it an edge over many other African countries. First, it has a large and young population of about 115 million people, which is the second largest in Africa after Nigeria. This means that Ethiopia has a huge domestic market and a vast pool of human capital. It also means that Ethiopia has a demographic dividend, which is the economic growth that results from having a large share of working-age people in the population.

Second, Ethiopia has a diverse and rich cultural heritage that spans thousands of years. It is the cradle of humanity, where some of the oldest human fossils have been found. It is also the origin of coffee, one of the most popular beverages in the world. Ethiopia has a unique alphabet, calendar, and clock system, as well as several languages and religions. Ethiopia’s culture is a source of pride and identity for its people, as well as an attraction for tourists and investors.

Third, Ethiopia has a strategic location in the Horn of Africa, which connects it to the Middle East, Europe, and Asia. Ethiopia is landlocked, but it has access to the sea through its neighbor Djibouti, where it operates a major port. Ethiopia also has several rivers that flow through its territory, including the Blue Nile, which is the main tributary of the Nile River. Ethiopia’s location gives it an opportunity to trade with other regions and to harness its water resources for hydropower and irrigation.

Ethiopia’s vision is to become a middle-income country by 2025 and a high-income country by 2050. To achieve this, Ethiopia has embarked on an ambitious development plan that focuses on industrialization, infrastructure, agriculture, education, health, and governance. Ethiopia has made significant progress in reducing poverty, improving social services, and expanding economic opportunities for its people. It has also attracted foreign investment and aid from countries like China, Turkey, India, and the United States.

However, Ethiopia also faces many challenges and risks that could derail its progress and undermine its stability. Some of these include:

Ethnic tensions and conflicts: Ethiopia is composed of more than 80 ethnic groups, each with its own language, culture, and history. While this diversity is a strength, it can also be a source of division and violence. Ethiopia has experienced several ethnic clashes and protests in recent years, especially in the Oromia and Tigray regions. These conflicts have resulted in deaths, displacements, human rights violations, and humanitarian crises.

Political instability and repression: Ethiopia has been ruled by the same party since 1991, which has been accused of authoritarianism, corruption, nepotism, and human rights abuses. The party has faced growing opposition and discontent from various segments of society, especially the youth. In 2018, Ethiopia underwent a political transition when Abiy Ahmed became the prime minister after his predecessor resigned. Abiy initiated several reforms and peace initiatives that earned him the Nobel Peace Prize in 2019. However, he also faced resistance and criticism from some factions within his own party and from other parties. Ethiopia has some success stories that demonstrate its potential and inspire hope for its future.

Some of these are:

The Grand Ethiopian Renaissance Dam (GERD): This is a mega-project that aims to build the largest hydroelectric dam in Africa on the Blue Nile River. The dam will have a capacity of 6.4 gigawatts and will generate enough electricity to power Ethiopia and export to neighboring countries. The dam will also provide irrigation and flood control benefits. The project is expected to be completed by 2023 and will cost about $5 billion. The dam is a symbol of Ethiopia’s national pride and ambition, as well as a source of controversy and tension with Egypt and Sudan, who fear that the dam will reduce their water supply.

The Ethiopian Airlines: This is the flag carrier of Ethiopia and the largest airline in Africa by passengers, fleet, and destinations. The airline operates flights to more than 120 international and domestic destinations, including the United States, Europe, Asia, and Australia. The airline is known for its safety, efficiency, and profitability, and has won several awards and accolades. The airline is also a catalyst for Ethiopia’s tourism and trade sectors, as well as a role model for other African airlines.

The Sheba Valley: This is a nickname for the emerging tech hub in Ethiopia, where several startups, incubators, accelerators, and investors are based. The Sheba Valley is home to some of the most innovative and successful tech companies in Africa, such as Gebeya, which trains and connects African software developers to global clients; ZayRide, which offers ride-hailing and delivery services; and Kana TV, which produces and broadcasts popular entertainment content.

The Sheba Valley is also a hub for social impact and education initiatives, such as GirlCode Academy, which empowers young women to pursue careers in STEM fields; and iCog Labs, which develops artificial intelligence and robotics solutions. These are just some of the examples of how Ethiopia is transforming itself into a new giant of Africa. Ethiopia has a long way to go to achieve its vision and overcome its challenges, but it also has a lot of potential and opportunities to make it happen. Ethiopia is a country that deserves our attention and admiration.

How Fintechs Align With And Contribute to Achieving The United Nations Sustainable Development Goals

By
Ojukwu Emmanuel
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0

The proliferation of Financial Technology (Fintechs) across the globe has without a doubt continued to play a crucial role in the contribution and achievement of the United Nations Sustainable Development Goals.

As Fintechs launch to become key drivers for financial inclusion, this, in turn, underlies a sustainable balanced development, as embodied in the United Nations Sustainable Development Goals (SDGs).

Fintechs are an evolving intersection of financial services and technologies which have been used to improve access to finance, lower transaction costs and enhance the efficiency of the financial sector.

There are reports and evidence that economies with high financial inclusion rates have significantly lowered poverty rates. The World Bank has identified financial inclusion as an enabler for 7 of the 17 SDGs.

What Are the United Nations Sustainable Development Goals?

On September 25, 2015, the United Nations adopted the Sustainable Development Goals (SDGs) which was formally adopted by (193 out of 195 countries in the world, as a universal call to action to address a wide range of social economic, and environmental challenges, to work toward a more sustainable and equitable future by the year 2030.

The United Nations adopted 17 goals which are

1.) No Poverty

2.) Zero Hunger

3.) Good health and well-being

4.) Quality Education

5.) Gender Equality

6.) Clean Water and Sanitation

7.) Affordable and Clean Energy

8.) Decent Work and Economic Growth

9.) Industry, Innovation and Infrastructure

10.) Reduced Inequalities

11.) Sustainable Cities and Communities

12.) Responsible Consumption and Production

13.) Climate Action

14.) Life Below Water

15.) Life on Land

16.) Peace, Justice, and Strong Institutions

17.) Partnerships for the goals

At its heart are the 17 Sustainable Development Goals (SDGs), which are an urgent call for action by all countries, developed and developing in a global partnership.

They recognize that ending poverty and other deprivations must go hand-in-hand with strategies that improve health and education, eradicate inequality, and spur economic growth, amongst others.

As Fintechs continue to roll out innovative modern technologies, it has continued to play a pivotal role in assisting the United Nations in achieving its SDGs.

Check Out How Fintechs Are Contributing to The Achievement of The United Nations Sustainable Development Goals

1.) No Poverty: Fintech Solutions such as digital banking and Microfinance, provide access to financial services for unbanked and underserved populations, helping to reduce poverty and promote financial inclusion.

Some of these Fintech platforms offer microloans to individuals and small entrepreneurs who lack access to traditional banks. These small loans can be used for income-generating activities and to lift individuals out of poverty.

According to the World Bank, financial inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs delivered in a responsible and sustainable way.

2.) Zero Hunger: Fintech solutions have continued to develop technologies that improve access to credit and insurance for small-scale farmers, enabling them to invest in their agricultural practices and reduce food insecurity.

Some of these solutions facilitate digital payments and remittances, which can improve the efficiency of food supply chains. Farmers get to receive payments digitally, reducing the reliance on cash and the associated risks.

These Fintech-driven initiatives have the potential to empower smallholder farmers and strengthen food systems in both rural and urban areas.

3.) Good Health and Well-Being: Fintech innovations support healthcare access by facilitating digital payments for medical services, insurance coverage, and telemedicine, promoting better health outcomes.

Several of these Fintech platforms offer innovative solutions for healthcare financing, including health savings accounts (HSAs) and health insurance plans. These tools allow individuals to save for future medical expenses and provide coverage for healthcare services, reducing the financial burden of medical treatments.

4.) Quality Education: Fintech significantly contributes to improving the quality of education by addressing financial barriers, enhancing access to educational resources, and streamlining administrative processes.

These innovative technologies enable digital payment solutions for educational institutions by enabling digital payments for school fees, providing online learning platforms, and facilitating educational financing options.

Also, fintech facilitates payments for online courses and e-learning platforms, expanding access to education for individuals who may not have access to traditional institutions.

5.) Work And Economic Growth: Fintech fosters economic growth by supporting SMEs with access to financing, streamlining payments, and enhancing the efficiency of financial transactions.

Fintech platforms facilitate access to capital for small and medium-sized enterprises and startups through digital lending, crowdfunding, and peer-to-peer lending. This helps businesses expand, invest in new technologies, and create jobs, driving economic growth.

6.) Reduced Inequality: Fintech reduces economic inequality by providing financial services to marginalized communities and facilitating remittances at lower costs, helping to bridge income disparities.

These platforms provide access to financial services for underserved and unbanked populations, including those in remote areas or low-income communities. This inclusion helps bridge the gap between the financially excluded and the formal financial system, reducing economic inequality.

Conclusion

Fintech’s ability to reach underserved populations, streamline financial processes, and foster innovation, positions it as a valuable tool in advancing the UN’s sustainability agenda.

As more fintechs continue to launch innovative technologies, this will play a key role in enabling the United Nations to achieve a significant amount of their goals by the year 2030.

Rejuvenating Institutions for Sustainable Innovation Ecosystem in Nigeria

By
Rasheed Adebiyi
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0

In any country, creating new products and services, as well as ensuring the sustainability of existing ones by restoring their prior level of functionality when issues have prevented them from delivering the expected value, is crucial for economic growth. This is also expected to lead to direct or indirect personal growth for individuals, regardless of their socioeconomic status or political class. At the heart of initiating and executing plans for developing and revamping existing offerings—products and services—lies innovation, a concept that has been theorized and researched worldwide over the years. From political leaders to captains of industries and professionals who execute various ideas into the commercialization stage, innovation serves as the bedrock for ensuring the hyper-commercialization of ideas, benefiting everyone and the country at large.

This has been one of the reasons for measuring the innovation ecosystem by different organizations and individuals at global, regional, national, and local levels. Nigeria is not an exception in this regard. The country has been among those studied by various organizations and researched by academics with the intention of understanding what works and what doesn’t work in its innovation ecosystem over the years. Leveraging the research conducted by the World Intellectual Property Organization and others that have studied the country’s innovation ecosystem, the outcomes have consistently been mixed, with a significant focus on the poor status of institutions – including political, regulatory, and business environments – in ensuring good innovation ecosystem performance.

Primarily, World Intellectual Property Organisation and others assess various factors, including institutions, human capital and research, infrastructure, market sophistication, and business sophistication. These factors serve as inputs for gauging the knowledge, technology, and creative outputs in any given country. The “institution” pillar encompasses political, economic, and business environments. Sub-indicators for the “human capital and research” pillar include the presence of high schools and higher education institutions teaching innovation, as well as active engagement in research and development. Under the “infrastructure” pillar, WIPO and others evaluate the strength of information and communication facilities, general infrastructure quality, and ecological sustainability in countries. The “market sophistication” pillar considers financial support, diversification, and the ability to scale products and services in markets as relevant sub-indicators.

Similarly, “business sophistication” aims to gauge the ability of workers to absorb innovation knowledge and skills. However, this alone is insufficient. They must also possess the capability to connect various innovations to develop sustained innovation outputs. In this regard, they should be able to create and disseminate impactful knowledge without neglecting the capacity to generate intangible assets, creative products, and services, whether online or in physical stores.

Unfortunately, considering these pillars, Nigeria did not perform well within the institution pillar between 2013 and 2022. The average ranking during this period was 120, while innovation stood at 117, reflecting suboptimal results over the course of a decade. An analysis during this timeframe reveals that the strength of institutions contributed only 11.2% towards creating a more favourable innovation ecosystem. However, when examining the impact on specific aspects, institutions had a significant influence on knowledge and technology outputs, accounting for 42.8%, and also affected creative outputs by 23.4%. These findings suggest that institutions showed relatively good performance, helping the country achieve nearly half of the expected 100% outcome of institutions in fostering a better innovation ecosystem. This also indicates that businesses, non-profit organizations, and individuals were able to overcome some obstacles related to the political, regulatory, and business environment while pursuing creativity and disseminating impactful knowledge across various sectors and industries.

When we break down the years, it becomes apparent that institutions performed better in 2018 compared to other years between 2013 and 2022, particularly in contrast to 2013 and 2014. Although 2013 wasn’t a favourable year for the country in terms of institutional ranking, it was relatively successful in terms of innovation outputs, especially in the realm of creativity. On the other hand, 2014 exhibited slight improvements, particularly in knowledge and technology output.

What the future holds if the status remains?

In the future, the current status of institutions will be bleak on attaining innovation outputs, at least between 2023 and 2025. During this period, Nigeria is expected to feel the significant effects of political, regulatory, and business environments on knowledge, technology, and creative outputs. However, there is optimism for more positive outcomes from 2026 to 2030. To mitigate the adverse effects of these institutions on innovation outputs and to enhance future results from 2026 to 2030, political and business leaders must address inherent challenges within the political, regulatory, and business environments. Political leaders at all levels, from federal to state and local, should create a conducive environment that facilitates the effectiveness of legal frameworks aimed at resolving various disputes related to intellectual property.

Moreover, access to loans that do not hinder innovation should be made available by avoiding stringent requirements that might deter innovators from exploring the potential of launching new products and services. Venture capitalists should recognize the importance of innovation financing as a key driver of the country’s economy and should actively support innovators. Additionally, businesses and their employees should strive to adopt existing innovative products or services more effectively, thus enhancing efficiency and productivity.

 

 

Source: Global Innovation Index, 2013-2022; World Economic Forum, 2013-2022

In order to hone the different institutional framework for rejuvenating the ecosystem, steps must be taken to improve the health of the political, regulatory and business environment. Based on the data, we suggest the following remedies.

Improved policy implementation and environment

From observations, it was noticed that the innovation and digital ecosystem in Nigeria started receiving serious governmental attention perhaps from 2015 or thereabout when the ministry of communication was reconfigured to also include digital economy. From then till the new administration of President Ahmed Bola Tinubu came on board, there was a flurry of policies upon policies probably to give shape to enhanced prosperity through the digital economy. There is a need to accelerate the provisions of the policies and find a place of convergence and divergence between them. It is then new policies could be put in place if there is a need for such. In driving a mechanism for accelerated growth in the innovation ecosystem, it is important to avoid policy glut and improve the policy environment. 

Activate the National Startup Act

In order to address the issue of funding inadequacy for innovation ecosystem, the National Startup Act has extensively addressed access to funding by the ecosystem players. The Act has provisions that cater to the financial needs of startups in Nigeria through the Startup Investment Seed Fund. It is our advice to the Minister of Communication and Digital Economy to fast track the establishment of the National Council for Digital Innovation and Entrepreneurship for the current administration. We also advise a strong coordination with the state governments through the Nigeria Governors Forum (NGF).  Efforts such as these would assist the drive for the growth of innovation and entrepreneurship in the country. 

Increased and Enhanced Public-Private Partnership

To grow the digital and innovation ecosystem in the country, it is critical to increase and enhance public-private partnership. This is to address the issue of sustainability of programmes put in place by government. From observation, governments at state levels are also seriously considering growing innovation and digital prosperity in their various states. However, the capacity of the state civil service bureaucracy to successfully run some of the needed programmes to bring this to a reality is in doubt. This is where the need for private operators in the ecosystem comes in. With their established processes, programmes and experience, the private sector working hand in hand with public institutions would bring far reaching impact to the drive for innovation and digital economy. A good example of this is what Opolo is doing across higher institutions where it has presence. We help in talent management of the ecosystem through offering programmes that plug the gaps in curriculum especially in entrepreneurship and and student work experience programmes. In Osun State University, Opolo partnered the Faculty of Engineering to provide facilitation in Data Science for 200 Level Engineering students in the university. In the same vein, the hub at the Rivers State University of Science and Technology had an engagement with the startup ecosystem on campus addressing issues such as ideation, incubation, acceleration and funding for their ideas. Improved and enhanced partnership would go a long way to accelerate innovation in the country.

Time for Innovation to Flourish but more needs to be done 

It is a good time for digital economy to boom in Nigeria. This is not farfetched from the fact that the personality and professionalism of the new driver of the national vehicle of digital economy has been a strong and established player in the terrain before his appointment. Still, there is a need to pay attention to factors that could make the job well-coordinated, easier and more impactful. Addressing improved policy implementation and environment, fostering partnership with established private players and putting up a structure to implement the provision of the National Startup Act would show the needed result.

Tether still shows strength of Solvency

By
Paul Ugbede Godwin
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0

Tether, the most widely used stablecoin in the crypto market, has been under scrutiny for its lack of transparency and its alleged role in manipulating the price of Bitcoin. Tether was launched in 2014 by a company called Tether Limited, which is closely affiliated with Bitfinex, one of the largest crypto exchanges in the world. However, despite the controversies and the legal challenges, Tether still maintains its dominance and its peg to the US dollar.

Tether is a cryptocurrency that is backed by an equivalent amount of fiat currency, such as the US dollar, the euro, or the yen. Tether claims that for every unit of Tether issued, there is a corresponding unit of fiat currency held in reserve by Tether Limited, the company behind the stablecoin. This means that Tether should always be redeemable for its face value, regardless of the fluctuations in the crypto market.

Tether operates on several blockchains, such as Bitcoin, Ethereum, Tron, and Solana, and can be transferred between them using a service called Tether Bridge. Tether can also be exchanged for other cryptocurrencies on various platforms, such as exchanges, wallets, and decentralized applications. Tether is often used as a medium of exchange, a store of value, and a hedge against volatility in the crypto market.

Tether’s solvency depends on two factors: its reserves and its demand. Tether’s reserves are the assets that back up the value of Tether. According to Tether’s website, these assets include cash, cash equivalents, short-term deposits, commercial paper, secured loans, corporate bonds, precious metals, and other cryptocurrencies. However, Tether does not provide a detailed breakdown of its reserves or a regular audit by an independent third party. This has raised doubts about whether Tether actually enough assets has to back up all the Tethers in circulation.

Tether’s demand is the amount of Tether that people want to hold or use. As long as there is enough demand for Tether, Tether can maintain its peg to the US dollar by issuing or redeeming Tethers as needed. For example, if there is more demand for Tether than supply, Tether can issue more Tethers and sell them for fiat currency or other assets to increase its reserves. Conversely, if there is less demand for Tether than supply, Tether can redeem some Tethers and buy back fiat currency or other assets to decrease its reserves.

However, if there is a sudden loss of confidence in Tether or a regulatory crackdown on Tether, there could be a run-on Tether, where people try to sell their Tethers for fiat currency or other cryptocurrencies. This could cause a liquidity crisis for Tether, where it does not have enough reserves to meet all the redemption requests. This could lead to a loss of peg or a collapse of Tether.

Using Tether involves both risks and benefits. Some of the risks are:

Lack of transparency: As mentioned above, Tether does not provide a clear and verifiable account of its reserves or its operations. This makes it hard to assess its solvency and trustworthiness.

Legal uncertainty: Tether is subject to various legal and regulatory challenges around the world. For example, in February 2021, Tether reached a settlement with the New York Attorney General’s office over allegations that it misrepresented its reserves and concealed losses from customers. As part of the settlement, Tether agreed to pay $18.5 million in fines and to provide quarterly reports on its reserves. However, other jurisdictions may impose different or stricter rules on Tether or ban it altogether.

Technical issues: As with any cryptocurrency, using Tether involves relying on technology that may malfunction or be hacked. For example, in November 2017, a hacker stole $31 million worth of Tethers from a wallet belonging to Tether Limited. Although the hacker was unable to redeem the stolen funds due to a freeze imposed by Tether Limited, this incident exposed the vulnerability of Tethers to theft or manipulation.

Some of the benefits are:

Stability: As long as Tether maintains its peg to the US dollar, it offers a stable and predictable value that can be used for transactions or savings in the crypto market.

Liquidity: As one of the most widely used cryptocurrencies, with a market capitalization of over $70 billion as of September 2023, Tether offers high liquidity and low transaction costs compared to other cryptocurrencies or fiat currencies.

Interoperability: As mentioned above, Tether operates on multiple blockchains and can be transferred between them using a service called Tether Bridge. This allows users to access different platforms and services in the crypto ecosystem without having to convert their funds into different currencies.

Tether’s popularity and influence are undeniable. According to CoinMarketCap, Tether is the third-largest cryptocurrency by market capitalization, with over $70 billion worth of USDT in circulation. Tether also accounts for more than half of the total trading volume of all cryptocurrencies, surpassing even Bitcoin. Tether’s dominance is especially evident in Asia, where many traders prefer to use USDT instead of fiat currencies or other cryptocurrencies.

Tether is a controversial but influential stablecoin that has a significant impact on the crypto market. Despite the lack of transparency and the legal uncertainty, Tether still shows strength of solvency and maintains its peg to the US dollar. However, using Tether also involves risks that users should be aware of and prepared for. Ultimately, the future of Tether depends on its ability to prove its legitimacy and reliability to its users and regulators.

Riot Blockchain in Texas computes 10,500,000,000,000,000,000 mathematical algorithm

By
Paul Ugbede Godwin
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0

One of the leading companies in the cryptocurrency mining industry is Riot Blockchain, based in Texas. The company operates a massive facility that houses thousands of high-powered computers that are constantly solving complex mathematical problems. These problems are part of the process of verifying transactions on the blockchain, the distributed ledger that underpins cryptocurrencies like Bitcoin. By solving these problems, Riot Blockchain and other miners compete to earn rewards in the form of new coins and fees.

Bitcoin mining is a process that involves solving complex mathematical problems to validate transactions and create new bitcoins. The difficulty of these problems increases over time, making it harder and more expensive to mine bitcoins. This poses a challenge for miners who want to earn rewards and secure the network.

Riot Blockchain, a Nasdaq-listed company that operates one of the largest bitcoin mining facilities in North America, has developed a new algorithm that aims to optimize the mining process and increase profitability. The algorithm, called RiotX, is based on artificial intelligence and machine learning, and it dynamically adjusts the mining parameters according to the network conditions and the available resources.

RiotX works by analyzing various factors, such as the difficulty level, the hash rate, the electricity cost, the temperature, the hardware performance, and the market price of bitcoin. It then determines the optimal configuration for each mining machine, such as the power consumption, the fan speed, and the clock frequency. By doing so, it maximizes the efficiency and the output of each machine, while minimizing the operational costs and the environmental impact.

The scale of this operation is staggering. According to Riot Blockchain’s website, the company’s current hash rate, or computing power, is 10.5 exahashes per second (EH/s). That means that the company’s computers are performing 10.5 quintillion calculations every second, or 10,500,000,000,000,000,000 calculations per second. To put that in perspective, that is more than a thousand times faster than the world’s most powerful supercomputer, Fugaku, which has a peak performance of 9.4 petaflops, or 9.4 quadrillion calculations per second.

Why does Riot Blockchain need such a colossal amount of computing power? The answer lies in the nature of the blockchain and the competition among miners. The blockchain is a series of blocks that contain records of transactions. Each block is linked to the previous one by a cryptographic hash, a unique code that is derived from the data in the block. To create a new block, miners have to find a hash that meets certain criteria, such as having a certain number of leading zeros. This is called proof-of-work, and it ensures that the blockchain is secure and immutable.

However, finding such a hash is not easy. It requires trial and error, and the difficulty of the problem adjusts every 2016 blocks to keep the average time between blocks at 10 minutes. As more miners join the network and increase the hash rate, the difficulty increases as well. Therefore, miners have to constantly upgrade their hardware and software to keep up with the competition and increase their chances of finding the next block.

Riot Blockchain is one of the most successful miners in this global race. The company has invested heavily in expanding its capacity and improving its efficiency. In 2021, Riot Blockchain acquired Whinstone US, Inc., which operates the largest Bitcoin mining facility in North America, with a total power capacity of 750 megawatts. The company also announced plans to acquire 43,500 Antminers from Bitmain Technologies Limited, one of the leading manufacturers of mining equipment. With these acquisitions, Riot Blockchain expects to reach a hash rate of 25 EH/s by the end of 2023.

Riot Blockchain’s impressive growth and performance have attracted attention from investors and analysts. The company’s stock price has soared from $1.22 per share at the end of 2019 to $28.60 per share as of September 29, 2023, an increase of more than 2,200%. The company’s market capitalization is currently over $2.8 billion, making it one of the largest publicly traded Bitcoin mining companies in the world.

Riot Blockchain’s vision is to become a leader in advancing blockchain technology and creating value for its shareholders and stakeholders. The company believes that Bitcoin and other cryptocurrencies have the potential to transform the global financial system and create a more inclusive and decentralized economy. By providing security and trust to the blockchain network, Riot Blockchain aims to contribute to this transformation and benefit from its growth.

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