The first COVID-19 case was discovered by a Chinese doctor in November 2019. The news was stopped by the Chinese government at the time. Meanwhile, more than 66,000 people worldwide have died from this virus. While the pandemic has created uncertainty in the global economy, it has also inspired crypto miners to promote transparency and freedom of expression in China.
12 major Chinese mining companies including: Canaan, AvalonMiner, Inter Hash, Huobi Pool, OkEx Pool met with Chinese blockchain media companies on April 3 to officially launch a platform where information can be shared.
Pow Power’s first official report indicated that censorship is one of the reasons for the pandemic in China. The demand for a reliable and transparent way of communicating ensured that the mining community came together to set up Pow Power.
Pow Power announced that a transparent standard reference index will be added to the platform. They said:
The index is based on a number of factors including: supply and demand, revenue observation and public opinion. The information about the miners will be collected and released on the “Pow Power” WeChat platform.
They also indicated that various issues, such as censorship on industry and monopoly on raw materials, have caused mining companies to experience difficulties in attracting investors and making it difficult to keep their business running.