The country can expect to have a better future according to the Druk Holding and Investments or DHI. The company, which manages the country’s national wealth, says this is possible thanks to its investment in emerging technologies, including blockchain and digital asset mining project. Blockchain is a digital ledger which records transactions in a secure and decentralized way. Digital assets are digital currency such as bitcoin and Ethereum that uses blockchain technology to facilitate these transactions.
According to a statement by the DHI, the company manages a number of investments that are spread across different locations around the world. Today, they are also investing in new and modern technology, like digital identity and blockchain.
This is in line with their goal to create a sustainable and connected future for the country by investing and building a diversified investment portfolio that will help the country grow and be in a position to be a frontier in innovation and technology. It is also to stay relevant in the world fueled by the exponential growth of technology.
According to Ujjwal Deep Dahal, DHI’s Chief Executive Officer, realizing the huge potential, Bhutan was able to make investments early on and current positions are good.
One of the criticisms of digital asset mining is that the mining process uses a lot of energy, which contributes to carbon emissions and climate change. DHI clarifies that Bhutan is using 100% green energy to power the digital asset mining activities. Also the priority on the usage of energy is the least for this project.
Digital asset mining is the process for verifying transactions by solving math equations using specialized computers. And those who solve the equations are rewarded with certain amount of the asset.
On the recent international article which has put DHI’s investment in a negative light, the CEO says although there were some payment and timing issues in closing the deal, it has now been settled and has no net negative impact in the portfolio. He clarified that the investment portfolio is in the net positive at this point in time considering the diversified portfolio DHI has created and risk management framework in place.
And while there may be challenges and criticisms along the way, DHI says it is looking to the future with utmost confidence and is committed to investing today to deliver a better tomorrow for the people of Bhutan.
Yeshi Gyaltshen
