Congress Explores Blockchain Energy Usage From Mining

On January 20, the Oversight and Investigations subcommittee of the U.S. Congress House Energy and Commerce Committee discussed blockchain energy usageĀ and other concepts related to mining and consensus.

Representatives then took to the floor with statements and questions. A few used their time for partisan attacks and political grandstanding, yet most made an honest effort to ask questions that either tackled the energy-related issues at the core of the hearing or sought broader context on the uses and potential applications of blockchain technology.

Federal Reserve Releases Paper on Digital Dollar, Seeks Public Comment

The Federal Reserve has released a 40-page paper [PDF] on its study of a digital dollar. It seeks public comment as it takes no position at this time.

Instead, it provides an exhaustive look at benefits such as speeding up the electronic payments system at a time when financial transactions around the world already are highly digitized. Some of the downside issues the report discusses are financial stability risks and privacy protection while guarding against fraud and other illegal issues.

Peloton Pauses Production of Bikes, Treadmills Over Decreasing Demand

Peloton is pausing production of its bikes and treadmills in February-March, according to internal documents obtained by CNBC.

Peloton has essentially guessed wrong about how many people would be buying its products, after so much demand was pulled forward during the coronavirus pandemic. It’s now left with thousands of cycles and treadmills sitting in warehouses or on cargo ships, and it needs to reset its inventory levels.