Dede Sophie

Papua New Guinea Prime Minister  James Marape has announced a record K9.7 billion tax revenue collection by the Internal Revenue Commission (IRC). He made the announcement as he prepares to travel to London for the funeral service of Queen Elizabeth II and as Papua New Guinea prepares to celebrate its 47th Independence anniversary on Friday, September 16, 2022. “I commend the sterling performance by the Internal Revenue Commission for the last eight months,” PM Marape said. “Papua New Guinea could not have asked for a better 47th Independence Anniversary performance indicator of a key State energy working its heart out. This record collection is the highest ever since 1975, and most importantly, highest collection ever in a tough year. “As of week ending September 9, 2022, the Internal Revenue Commission has collected around K9.7 billion with net transfers of K9.4 billion to the Waigani Public Accounts as projected by the 2022 National Budget. “This is a record achievement in a fiscal

 High cost of power is a major hinderance to trade and investment in Papua New Guinea (PNG), says Minister for Trade and Investment,  Richard Maru.  PNG’s electricity sector is unreliable, expensive and has very low access, making the country one of the least electrified countries in the world with only 13% of the population having access to electricity. “We continue to rely on the expensive diesel generators when we have vast cheaper and cleaner energy options available- the rivers (for hydro projects) and the sun (for solar farms),” said Minister Maru. Minister Maru raised this concern after meeting with a team from the Snowy Mountains Engineering Corporation (SMEC) this morning where they discussed about a feasibility study into the Sowom Hydro Project in East Sepik Province. SMEC has done an initial high-level feasibility study into the potential of the hydro project along the Sowom River in 2014. “The Marape-Rosso Government is keen to have a full feasibility study done on the via

Bitcoin mining is in short the hash-rate race between power-hungry computers. These machines require a lot of electric power to continue solving/computing complex mathematical puzzles. These cryptographic puzzles are created using memory intensive algorithm called the Proof-of-Work (PoW). Miners validate transactions and add the next block on blockchain, thus keeping the system secure and running. As a reward the miners collect $1000-$3000 in transaction fees from all validated transactions inside a block and also wins 12.5 BTC for mining the block. 2.24 2.23 2.22 2.21 2.20 2.19 2.18 2.17 2.16 2.15 2.14 2.13 2.12 2.11 2.10 2.9 2.8 2.3 2.4 2.5 2.6 2.7 2.2 2.1 2.0 1.0 Due to increased competition, the difficulty of mining has increased to such an extent that now you require specialized hardware to achieve enough hash rate to at least participate in the system. In 2009, 100 bitcoins could easily be mined within a day using CPU cycles of a simple home PC, but then as mining diffi