Zafra LLC is one of two cryptocurrency operations in Plattsburgh that continue to operate under a grandfathered allowance. Managing Partner Tom Pillsworth says the city risks being left behind in the emerging blockchain industry. “There’s ample opportunity for Plattsburgh to embrace this to create industry, jobs and tech without the massive use that Bitcoin specifically does. So I think that the door is still wide open. You know the heat thing, the electricity thing, the noise thing, I just think that could’ve been tweaked before they passed it because I don’t it portrays Plattsburgh as open for any type of business.”
Zafra’s CEO Ryan Brienza says if the council doesn’t deal with the moratorium soon, the company will move. “I thought at least with the passing of this the moratorium would be lifted which will let us expand because we’re the local guys in town and it’s really hurt our business. If this doesn’t get I guess resolved quickly then we’re moving out of town.”
I think it will be lifted soon according to what I read or they may have moved, I think they are trying to develop ways of reusing the heat generated and the use of renewable energy for crypto.
“Tom Pillsworth, a blockchain technology expert and CEO at Coin Citadel, a cryptocurrency services startup, took issue with some aspects of the regulations. In response to a line in the law that says the regulations apply to “server farms” — defined as “three or more interconnected computers” — Pillsworth said that could apply to a variety of businesses. “Three interconnected computers? That’s the library, that’s the law office,” he said. “
Pillsworth said that he didn’t want to see Plattsburgh limit its future growth as a technological hub. “If somebody wanted to build a data center here for some wonderful purpose — it has nothing to do with cryptocurrency,” he said. The future applications of blockchain technology, he said, go way beyond cryptocurrency. “I wouldn’t want to stifle the opportunity for growth that Plattsburgh has. I don’t think we should stifle innovation by just calling it ‘cryptocurrency.’”
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