The city of Fort Worth in Texas, United States, recently became the first city government in the country to achieve mining of its own Bitcoin . And the faculty of the TCU Neeley School of Business explained the event through the local media.
The benefits that Bitcoin mining will bring to Fort Worth
Michael Sherrod, William M. Dickey Entrepreneur in Residence at TCU Neeley School of Business; explained how the Bitcoin mining process will be developed and the possible benefits it will bring to the inhabitants of the city of Fort Worth.
Sherrod noted that the city of Fort Worth is very smart in getting to experiment with Bitcoin mining . And that it is a good experience and a good essay to test how cryptography can be used; especially in the event of some kind of major economic disruption .
Michael Sherrod also explained that the Bitcoin crypto currency involves a mining process that involves computers capable of solving very complex mathematical problems on an ongoing basis. Additionally, he highlighted the fact that Bitcoin mining could produce more capital for Fort Worth residents.
And he added that once you really understand the ins and outs about the world’s most popular crypto currency; it will be possible to begin to make policies that can help achieve those goals.
Fort Worth to Begin a 6-Month Pilot Program to Start Bitcoin Mining
The city of Fort Worth will participate in a six-month pilot program, in which they will begin mining BTC using three donated machines. Associate Professor of Professional Practice in the Department of Information Systems and Supply Chain Management, Kelly Slaughter; He spoke about his concern about energy and shared it with the “ Fort Worth Report ”. The professor assured that cryptocurrency mining consumes more power over time.
Slaughter also said that one thing IT has been working very hard on for decades is how to make services use less electricity . And that, therefore, he doesn’t know if Bitcoin would truly be as prominent as if it were classified among the other things that actually consume electricity.
However, Slaughter expressed hope about what government transparency might mean.
Finally, Slaughter said that, in fact, he now has a public ledger, which he believes makes it easier for Fort Worth city government to be more accountable to the people than ever before . And that you can actually look in real time and see any tax collections that the government has been doing.
The TCU Neeley School of Business
The TCU Neeley School of Business , is an undergraduate and graduate business school housed at Texas Christian University; which is a private university located in the city of Fort Worth, in the state of Texas in the United States. This business school is fully accredited by the AACSB.
The TCU Neeley School of Business offers its students to unleash their potential and foster their leadership. It also has exceptional teachers, with a very challenging study plan and very experienced mentors. This school provides a great opportunity for the student to develop their skills and grow as a person within the city of Fort Worth with its unique culture.