Singapore gets another Web 3.0 company
Another crypto company is withdrawing from the Chinese market and relocating to Singapore after China banned crypto trading and mining.
After tightening its approach to cryptocurrencies and regulation, China is not letting up and will apply stricter regulation to the Web 3.0 industry.
This approach has scared many companies out of the country, one of these being Filecoin service provider RRMine Global, which has even changed its name from RRMine to RRMine Global.
CEO of RRMine Global Steve Tsou shared:
“Very much like other entrepreneurs, we want the best for our company, employees, and community. The decision has been made after a profound examination and multiple discussions.”
Singapore’s approach to the Web 3.0 industry is very encouraging as its regulations are balanced and reasonable, which is why many Chinese Web 3.0 companies have chosen to migrate.
The company is also working on a new system that will escalate yield productivity and decrease operating costs, called R-Datacap storage.
Steve Tsou also shared that the company is taking the lead in Web 3.0 technology research and development to establish a more efficient system. He further added:
“Data storage providers will receive ten times the output incentive under the FIP-0012 proposal, which Filecoin approved. We are excited to bring this innovation to RRMine Global and Filecoin users very soon. It will undoubtedly be a game changer for our storage industry.”
Source: cointelegraph.com
analyst opinion
Eda Tutkun
After tightening its approach to cryptocurrencies and regulation, China is not letting up and will apply stricter regulation to the Web 3.0 industry.
This approach has scared many companies out of the country, one of these being Filecoin service provider RRMine Global, which has even changed its name from RRMine to RRMine Global.
CEO of RRMine Global Steve Tsou shared:
“Very much like other entrepreneurs, we want the best for our company, employees, and community. The decision has been made after a profound examination and multiple discussions.”
Singapore’s approach to the Web 3.0 industry is very encouraging as its regulations are balanced and reasonable, which is why many Chinese Web 3.0 companies have chosen to migrate.
The company is also working on a new system that will escalate yield productivity and decrease operating costs, called R-Datacap storage.
Steve Tsou also shared that the company is taking the lead in Web 3.0 technology research and development to establish a more efficient system. He further added:
“Data storage providers will receive ten times the output incentive under the FIP-0012 proposal, which Filecoin approved. We are excited to bring this innovation to RRMine Global and Filecoin users very soon. It will undoubtedly be a game changer for our storage industry.”
Source: cointelegraph.com
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