December 3 – 9, 2018 | BC Hydro, Ethereum Fork & More Crypto News

North iQ Weekly Newsletter is curated to provide insights on digital asset industry developments, market announcements, and performance analysis.

BC Hydro Welcomes Crypto Miners With Discounted Rates

December 3 – Canada may offer an attractive location for cryptocurrency miners due to its relatively green energy production, stable government, and cool climates which help save costs. Over the past year, cryptocurrency companies interested in mining within British Columbia have talked about adding almost 5,000 megawatts of energy to BC Hydro’s existing electrical load. When compared to BC Hydro’s current power generation, cryptocurrency mining would make up for approximately 40% of the total power it currently generates. While cryptocurrency companies have only materialized a fraction of that proposed energy usage, BC Hydro continues to attract new miners to the province by offering discounted rates on electricity usage.

Dina Matterson, a business development manager at BC Hydro, said that the crypto mining industry accounts for roughly half of the 10,000 megawatts of new load inquiries that BC Hydro has received over the last year. Some of the other potential new customers include liquefied natural gas (LNG) producers, marijuana growers, and data centres. “I know I’m keeping my eye on that bitcoin price,” said Dina Matterson, BC Hydro’s business development manager. BC Hydro expects to submit a proposal to the B.C. Utilities Commission as early as next year regarding a “load attraction rate”, which is an initial discount offered on electricity for new corporate customers that would include cryptocurrency companies. “This rate would help BC Hydro compete with clean jurisdictions that have lower power rates than us,” she said. “We need to get in the game.”

Read the full article here.

Ethereum Developers Propose Activation Point for Upcoming Hard Fork

December 7 – The Ethereum core developers have agreed to launch the “Constantinople” hard fork at block 7,080,000, as per a bi-weekly developer meeting held on December 7. The new agreement had followed a previous decision to delay the Constantinople fork for late January 2019 because of a “consensus issue” that had previously occurred during an upgrade trial in October. Assuming an average block of 14.3 seconds, and the number of remaining blocks around 234,431, the upgrade is likely to take place around January 14, 2019.

The Constantinople hard fork will include a number of Ethereum Improvement Proposals (EIPs) that will help ease the transition from proof-of-work (PoW) to the more “energy efficient” proof-of-stake (PoS) consensus mechanism. In addition, the proposed upgrade will seek to delay the “difficulty bomb”, a name dubbed for a code fix that is designed to prompt frequent upgrades for 18 months. The changes will also seek to reduce the ether rewards from 3 ether to 2 ether per block.

Read the full article here.

Nasdaq Ventures, Fidelity, and Others Invest in Cryptocurrency Exchange ErisX

December 4 – The crypto exchange ErisX has recently raised $27.5 million USD from Fidelity Investments, Nasdaq Ventures, and several other investors in a recent funding round. The cryptocurrency exchange is set to offer spot trading for bitcoin, ether, and litecoin in addition to futures markets sometime next year, depending on regulatory approval. Other notable participants of the Series B funding round include Bitmain, ConsenSys, and Monex Group.

ErisX, which has also had prior backing from the major brokerage TD Ameritrade, has said that it aims to be a Commodity Futures Trading Commission (CFTC) regulated futures market and clearinghouse, but has yet to finalize its registration for the latter. “With increasing financial support from leading edge firms, ErisX stands to provide the most robust, secure and regulated digital asset offering available to both institutional and individual participants,” said Thomas Chippas, CEO of ErisX.

Read the full article here.

G20 Meeting Put Emphasis on Cryptocurrency Regulation

December 3 – The G20, the leading international forum of governments and central banks from the world’s 20 biggest economies, has decided to oversee and regulate the crypto industry. In a recent declaration released by the forum, the G20 will seek to combat money laundering and fraud in cryptocurrency and blockchain-related businesses. “We will regulate crypto-assets for anti-money laundering and countering the financing of terrorism in line with FATF standards and we will consider other responses as needed,” said the G20 Leaders’ Declaration.

Additionally, summit members noted that the present global financial infrastructure is becoming more digitized, and the G20 will have to take stronger measures to strengthen the inclusion of other non-participating regions. It remains unclear whether all member countries will consider following the proposed oversight of the crypto industry. While fraud and asset theft were discussed at the summit meeting, crypto theft was not specifically mentioned, and it remains unclear if member countries were referring to cryptocurrency or fiat theft when members discussed the topic.

Read the full article here.

Australia Gets First Fully Accredited Blockchain Course

December 6 – The Australian institute Blockchain Collective has announced a fully accredited blockchain course, titled the “Advanced Diploma of Applied Blockchain”. The advanced diploma will require eight modules, including six core modules and two electives. The course is Australia’s first blockchain-related program that is fully accredited by the Australian Skills Quality Authority (ASQA). The accreditation will make it the first nationally-recognized blockchain course in Australia. Blockchain Collective, the institute behind the course, is an educational institute that offers blockchain-related courses which gives students the “knowledge and experience to apply blockchain frameworks to new and legacy business frameworks.”

“We are honored to bring accredited blockchain education to the Australian and International markets. This is just the tip of the iceberg with regard to implementing blockchain and distributed ledger technologies. I feel the timing is comparable to the World Wide Web in the early 1990s. And today, 55% of the world’s population has internet access and use it on a daily basis. Just imagine where we will be in the next 10-20 years, now there is an accredited course,” said Nathan Burns, the co-founder of Blockchain Collective.

Read the full article here.

3iQ Global Cryptoasset Fund: Price as at December 7, 2018

3iQ is the first regulator approved multi-cryptoasset portfolio manager in Canada, providing accredited investors with exposure to bitcoin, ether, and litecoin through its 3iQ Global Cryptoasset Fund.

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This Weekly Cryptoasset Newsletter is for informational purposes only and does not constitute, either explicitly or implicitly, any provision of services or products by 3iQ Corp (“3iQ”). Investors should determine for themselves whether a particular service or product is suitable for their investment needs or should seek such professional advice for their particular situation.3iQ Corp. makes no representation or warranty to any investor regarding the legality of any investment, the income or tax consequences, or the suitability of an investment for such investor. All content is original and has been researched and produced by 3iQ unless otherwise stated therein. No part of the content may be reproduced in any form, or referred to in any other publication, without the express written permission of 3iQ. All statements made regarding companies, securities or other financial information contained in the content or articles relating to 3iQ are strictly beliefs and points of view held by 3iQ and are not endorsements of any company or security or recommendations to buy or sell any security. No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise. By visiting and/or otherwise using the 3iQ website in any way, you indicate that you understand and accept the terms of use as set forth on the website and agree to be bound by them. If you do not agree to the terms of use of the website, please do no access the website or any pages thereof. Any descriptions of, references to, or links to other products, publications or services does not constitute an endorsement, authorization, sponsorship by or affiliation with 3iQ with respect to any linked site or its sponsor, unless expressly stated by 3iQ. Any such information, products or sites have not necessarily been reviewed by 3iQ and are provided or maintained by third parties over whom 3iQ exercises no control. 3iQ expressly disclaims any responsibility for the content, the accuracy of the information, and/or quality of products or services provided by or advertised on these third-party sites. The information contained herein, while obtained from sources believed to be reliable, is not guaranteed as to its accuracy or completeness and confers no right on purchasers. Past performance of cryptoassets is not indicative of future performance and should not be used to forecast any return that an investor may realize.

Fred Pye

Frederick T. Pye


Frederick T. Pye is the Chairman, Chief Executive Officer and Director of 3iQ Corp. He is also the Chairman and Director of 3iQ Digital Holdings Inc. Mr. Pye is recognized for creating and promoting creative and unique investment products for the investment industry.

Mr. Pye has managed private client portfolios with Landry Investment Management and various other investment dealers. Prior to this Mr. Pye was Founder, President & Chief Executive Officer of Argentum Management and Research Corporation, a company dedicated to managing and distributing quantitative investment portfolios including the first long-short mutual fund in Canada.

He was also Senior Vice-President and National Sales Manager of Fidelity Investments Canada and an integral part of the team that saw assets rise from $80 million to over $7.5 billion in assets under management during his tenure. He also held various positions with Guardian Trust Company, which listed the first Gold, Silver and Platinum Certificates on the Montreal Exchange.

Mr. Pye obtained a Masters in Business Administration from Concordia University.