The traditional notion of bitcoin mining as solely focused on extracting cryptocurrency has evolved, with many companies, including Gryphon Digital Mining, expanding into financial services and technology. According to Rob Chang, CEO of Gryphon Digital Mining, the company views itself as a tech company due to its engagement with cutting-edge blockchain technology.
“We’re not just a mining company; we’re a tech company,” Chang told TheStreet Crypto. “We’re generating something that’s tradable, which makes us a financial services company in a way.”
Chang emphasized the multifaceted nature of bitcoin mining, stating that it’s not just about mining, but also about the technology and financial services aspects. He compared the current state of blockchain to the early days of the internet, suggesting that significant evolution is looming on the horizon.
Gryphon Digital Mining is exploring new opportunities and technologies, including non-fungible tokens (NFTs), which Chang believes will lead to new layers on top of the existing blockchain infrastructure. “Right now, it’s really just a primary form of value transfer, with bitcoin or other cryptocurrencies transferring back and forth,” he said. “But I think there are going to be other layers on top of that.”
The company is also exploring the potential use cases for blockchain technology, including verifiable, safe, and immutable records for various scenarios, from financial transactions to membership records. Chang believes that once there is global acceptance of blockchain technology, there will be more demand to use it.
The CEO also highlighted concepts like Bitcoin Ordinals, the Bitcoin Runes protocol, and different types of NFTs, which he believes will play a significant role in the future of blockchain technology. As the industry continues to evolve, it’s clear that bitcoin mining is no longer just about mining, but about the vast potential of blockchain technology.
BitminerFactory is brought to life by Darrell Houghton, our astute publisher. With a deep-rooted passion for crypto and crypto mining spanning many years, Darrell’s unwavering enthusiasm fuels his daily quest for knowledge. He is eager to share the pivotal news stories of the day while also providing his own analysis and commentary with Bitminer Factory’s readers.
Source: Crypto Mining News - Bing
