{"id":313890,"date":"2021-08-02T13:57:58","date_gmt":"2021-08-02T10:57:58","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/saudi-aramco-dismisses-false-and-inaccurate-rumors-on-bitcoin-mining\/"},"modified":"2021-08-02T13:57:58","modified_gmt":"2021-08-02T10:57:58","slug":"saudi-aramco-dismisses-false-and-inaccurate-rumors-on-bitcoin-mining","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/saudi-aramco-dismisses-false-and-inaccurate-rumors-on-bitcoin-mining\/","title":{"rendered":"# Saudi Aramco dismisses \u2018false and inaccurate\u2019 rumors on Bitcoin mining"},"content":{"rendered":"<p>&#8220;<strong># Saudi Aramco dismisses \u2018false and inaccurate\u2019 rumors on Bitcoin mining  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvZmMzZGQwZWQtZGE1Zi00OWIyLWIzOGMtODJjMTgxODE2ZWFjLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>\n<p>The Saudi Arabian Oil Company (Saudi Aramco) stirred interest among crypto enthusiasts last year after investing $5 million in blockchain-based oil trading company Vakt. While this move aimed to digitize and streamline post-trade processing, Saudi Aramco was also rumored to undertake Bitcoin (BTC) mining activities.\u00a0<\/p>\n<p>However,\u00a0Saudi Arabia\u2019s state oil company released an official <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.argaam.com\/en\/article\/articledetail\/id\/1485559?utm_source=ArgaamSM&amp;utm_medium=twitter\">statement<\/a> to dismiss the ongoing rumors around mining Bitcoin. It said:<\/p>\n<blockquote><p>\u201cWith reference to recent reports claiming that the company will embark on Bitcoin mining activities, Aramco confirms that these claims are completely false and inaccurate.\u201d<\/p><\/blockquote>\n<p>Many governments, including China, have recently unleashed a crackdown on home-grown crypto mining activities, forcing businesses to find refuge in other crypto-friendly countries.\u00a0<\/p>\n<p>On the other hand, Middle Eastern countries such as the United Arab Emirates and Saudi Arabia continue to test the latest innovations around cryptocurrency. The Central Bank of Bahrain recently issued a license to an in-house crypto exchange\u00a0for legally operating within the country. <\/p>\n<p><strong><em>Related:<\/em> <em>UAE to experiment and launch an in-house digital currency<\/em><\/strong><\/p>\n<p>Saudi Aramco has an extensive history of investing in blockchain firms. As reported by Cointelegraph, a Saudi Aramco Subsidiary was part of a $6-million deal with Data Gumbo Corp. for developing a commercial blockchain network.\u00a0<\/p>\n<p>Just last month, the Central Bank of the UAE announced its 2023\u20132026 strategy that highlighted concrete steps to experiment and launch an in-house digital currency. As a part of this initiative, the UAE government intends to implement a digital identity system \u201cto bolster financial inclusion and easy access to financial services.\u201d<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/saudi-aramco-dismisses-false-and-inaccurate-rumors-on-bitcoin-mining\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Saudi Aramco dismisses \u2018false and inaccurate\u2019 rumors on Bitcoin mining &#8221; The Saudi Arabian Oil Company (Saudi Aramco) stirred interest among crypto enthusiasts last year after investing $5 million in blockchain-based oil trading company Vakt. While this move aimed to digitize and streamline post-trade processing, Saudi Aramco was also rumored to undertake Bitcoin (BTC)&#8230;<\/p>\n","protected":false},"author":1,"featured_media":313891,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvZmMzZGQwZWQtZGE1Zi00OWIyLWIzOGMtODJjMTgxODE2ZWFjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,89866,71511,81144],"class_list":["post-313890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-oil-and-gas","tag-government","tag-saudi-arabia"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/313890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=313890"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/313890\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/313891"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=313890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=313890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=313890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}