Headline March 09, 2018/ '' 'BITCOINS VIRTUAL BITUMEN' ''


THE WORLD STUDENTS SOCIETY is greatly honored to appoint Founder, Student Salar Khan, California, United States, as its Global Head for its Bitcoin operations and integration.

Future Space Scientist, Salar Khan Yusufzai, has to read-up, put in round the clock effort, to build a  knowledge base, and devise a workable plan for The World Students Society to incorporate crytocurrencies in our Ecosystem.

It would be a glee and a delight, should he, on regular basis, continue publishing his thinking on the Master Global Publication, Sam Daily Times : The Voice of the Voiceless.

Chartered Accountant Wadood Mughal, Singapore, formerly of the top management, Shell Asia, will critique and review his due diligence. As for me, I would Don the crypto hat, and learn, for once, from Bitfury. And then keep you all informed.

Let's try putting all our eggs in just one basket. And maybe, find our own unique way in the world.

SOMEWHERE - SOMETIME ALONG the fullness of time, the World Students Society will have to come to grips with the interfacing of, *Cryp-to-Eco*..

IN CENTRAL TBILISI, a neon- lit Marriott welcomes tourists. A nearby shopping mall installed a  special A.T.M. for Bitcoin withdrawals.

A cryptocurrency exchange flashes the prices of Bitcoin, Ether and other digital money on a ticker.

When street protests ousted the last Soviet-era leader in 2003, the government struggling with poverty, corruption and grinding bureaucracy, began selling itself as business-friendly, low-tax  outpost for investment.

Big financial institutions came in. So did casinos. A private company willing to take a risk was  Bitfury, founded in 2011 by a tech savant from Latavia, who was proselytizing about a strange virtual industry.

Remi Urumashvili, a well-connected lawyer and now Bitfury's main representative in Georgia, said that when Valery Vavilov, a co-founder and the chief executive, approached him to seek advice on building a cryptocurrency operations, he was baffled.

''They told me they wanted to mine Bitcoin, and I'm asking them, ''Hey, guys, what's a Bitcoin?''' Mr. Urumashvilli recalled,

Mr. Vavilov told him that the currency had introduced a new technology, blockchain, that had the potential for widespread use in business. Mr. Urumashvili said he had seen a potential tax advantage.

''They explained that it's money that exists on the Internet,'' he said. So I said, ''If a thing doesn't exist in reality, maybe the tax will be zero.''

Mr. Urumashvili worked hard to lobby lawmakers to keep Georgia an open market for  cryptocurrency. ''I don't like regulations,'' he said, arching eyebrow. ''And there are very few  regulations here for anything.''

As soon as Bitfury opened its doors, Georgia created ''free economic zones'' where mining activities and electricity weren't taxed.

When Bitcoin and other cryptocurrencies were exchanged for dollars or pounds, Georgia treated the  exchange as an export exempt from value-added taxes, so Bitfury could keep every penny of earnings. 

Rumors have swirled that Bidzina Ivanishvili, a former prime minister from the  Georgian Dream Party and the country's richest oligarch, has been a secret beneficiary of the digital experiment.

He gave Bitfury a $10 million loan through his investment fund when Bitcoin's executive vice chairman, George Kikvadze, sat on the investment board.

Mr. Ivanishvili declined an interview. Mr. Urumashvili said that no laws had been violated to encourage Bitfury and that the former prime minister's lean had been paid off. He had no other ties to  Bitfury, Mr. Urumashvili added.

The government even expanded a power station next to the Bitfury facility to pump in electricity at no extra cost.

With energy priced at 5 to 6 cents a kilowatt-hour - less than half the United States average - Bitfury and its supporters could envision prosperity, if not around the corner then somewhere just around the fog of Georgia's storied mountains.

The Honor and Serving of the latest Global Operational Research on Bitcoin and Ecosystems, continues.

With respectful dedication to the Leaders, Students, Professors and Teachers of Georgia, and then the world. See Ya all prepare and ''register'' for Great Global Elections on The World Students Society and Twitter- E-!WOW! - the Ecosystem 2011:

''' The World Map '''

Good Night and God Bless

SAM Daily Times - the Voice of the Voiceless


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