Cholla CEO: Bitcoin is a key pillar for the next stage of human progress

Odaily Planet Daily News Gideon Powell, CEO of Cholla Inc., a Texas petrochemical exploration and investment agency, said that Bitcoin is a key pillar for the next stage of human progress. According to Powell, "In a way, there's no word yet to describe exactly what a decentralized, permissionless digital network is. So Bitcoin is more than just a commodity and a currency. But I do think that the move to a more peer-to-peer system development, is critical to upholding fair checks and balances across society. No other innovation can truly combine all of these unique incentives, and Bitcoin is the cornerstone that allows people to collaborate across time and space without anyone’s permission." Powell also said, "A lot of people are talking about bitcoin mining companies turning to artificial intelligence. In fact, this is a very different industry-even if the basics are the same. You need land, you need a lot of power, and you need Internet connectivity. When you're talking about the metaverse and the amount of computing required, you need to increase the power consumption by orders of magnitude globally. In five to ten years, we think West Texas is one of the few places in the world that can host these gigawatt-scale campuses We’ve been working on landbanking and high-voltage infrastructure and really focusing on front-end projects to make sure HPC customers have the confidence to scale. But we’re not building our own data centers.” (CoinDesk)