Another intensive month for Chia [PRESS RELEASE]

We invite you to review the press mentions about Chia that appeared in the past month. There were quite a few, so without further ado – let's get to the point!

The Business Wire portal did not miss the opportunity to publish a post about the official launch of the Circular Drive Initiative organization. The collaboration between global leaders in digital mass storage and blockchain technology aims to reduce e-waste – they have already developed a white paper that collects research on reusing data storage hardware. Chia Network is naturally recognized as one of the key players in CDI.

This is not the only mention of Chia in Business Wire last month. The portal also dedicated a separate post to the inauguration of the Chia Network subsidiary headquarters in Singapore (the new office, the third after those in the United States and Switzerland, will be responsible for the company's operations in Asia and further global expansion – this was also reported by the widely-read The Edge Singapore). Other news on Business Wire covered significant appearances by key individuals in the Chia network. The portal announced the participation of CEO Gene Hoffman in the Crypto and Digital Assets Summit in London (in a panel dedicated to forecasts on digital asset resources), as well as Thomas Chou's speech at the FT Global Banking Summit (in a panel about the history of blockchain technology in banking).

Meanwhile, Channel News Asia (CNA) published an interesting interview with Bram Cohen, CEO and founder of Chia Network, conducted during the FinTech festival in Singapore. The head of Chia Network explains in a accessible manner how the PoST algorithm allows for more energy-efficient token mining; he also mentions the company's contribution to the development of carbon credit markets. The whole video, of course in English, can be viewed here.

The attention of Yahoo! Finance was drawn to the fact that Chia Network announced a partnership with Data Vault Holdings – a leader in metaverse data visualization and monetization, providing a patented cloud-based platform. The partnership was established in connection with the NFT exhibition of renowned photographer William Fortescue at Gallery 1571 in London. The Datavault platform allows for NFT minting on the Chia blockchain; in turn, the Chia Offers system and innovative NFT standard expand the range of services available to Datavault users. Great hopes are placed in this partnership – it is expected to help solve the issue of artist resale royalty rights and contribute to sustainable development. Yahoo! Finance emphasizes that Chia is the first blockchain to provide efficient tools for optimizing data and Web 3.0 content.

The longest article entirely devoted to Chia appeared on the Messari website. The author described in detail the decentralized, sustainable blockchain and the specifics of Chia farming, highlighting the benefits of innovative technology and the fact that known, influential regulatory entities have chosen to collaborate with the company. It also emphasizes that the PoST consensus mechanism reflects the key advantages of Bitcoin and Ethereum, while addressing their shortcomings. Furthermore, Chia's competitors, including Algorand, Solana, and Cardano, have fewer than 3 thousand validators, while the Chia blockchain has around 115 thousand validators. The comprehensive article on the Messari website concludes that although Chia has a long way to go to increase its network effect, the blockchain has already been recognized as a significant L-1 player, and its position in the cryptographic ecosystem has the potential to significantly grow.

In addition, Financial Times featured an important article on the green future of blockchain technology – and in this optimistic forecast, there was certainly a mention of Chia (once again in the context of the notable collaboration with the World Bank). The cooperation between the World Bank and Chia, the energy-efficient PoST mechanism, and the global CAD Trust registry were also mentioned on the Tech In Asia website.

Finally: GOBankingRates published an analysis of how the crypto industry reacted to the significant crash of the FTX exchange and the bankruptcy of BlockFi. Among the commentators was Gene Hoffman from Chia Network, who pointed out the stark difference between CeFi and DeFi and emphasized that both Bitcoin and Chia are decentralized blockchains created precisely to avoid similar financial failures. Hoffmann also called for a responsible approach and maintaining composure in an email quoted by the CoinDesk portal. Calm and measured media statements positively influence the image of Chia, especially during the crisis that the entire cryptocurrency industry is currently facing.