Green and sustainable crypto – Is this the way forward?

Green and sustainable crypto – Is this the way forward?

Energy consumption has been a major source of criticism in the cryptocurrency business. Ethereum has finally deployed a huge network upgrade that dramatically transforms how the blockchain validates transactions, mints new currency, and secures its network.

This mechanism, known as proof-of-stake, has cut Ethereum energy use by more than 99 per cent. This sounds good. However, Bitcoin is unlikely to follow suit.

Is Bitcoin now green? No, but at least Bitcoin’s emissions of greenhouse gases are down than before. According to the Cambridge Bitcoin Electricity Consumption Index, Bitcoin’s greenhouse gas emissions decreased from 59 metric tons of carbon dioxide equivalent in October 2021 to 48.88 metric tons.

According to research released by Cambridge University’s Centre of Alternative Finance, Bitcoin is failing to go green, with the cryptocurrency recording only modest increases in its use of renewable energy in the year leading up to January.

Powerful computers connected to a worldwide network process Bitcoin transactions and “mine” new tokens in a competition to solve challenging mathematical puzzles. Policymakers, investors, and environmentalists concerned about the process’s impact on global warming criticise it for guzzling electricity and heavily relying on dirty fossil fuels like coal.

Green cryptocurrencies are those whose mining activities are powered by renewable energy sources.

Things are changing, and there are alternatives to make it “greener”

Solar

Currently, solar is said to as “the cheapest energy source.” Solar energy, which has the greatest pace of growth among all energy sources, presently provides three per cent of the world’s electricity while emitting no noise pollution and scaling up easily. Solar energy has global potential, in contrast to comparatively rare geothermal.

According to Bloomberg, a solar power company in South Africa pays investors with cryptocurrency. Sun Exchange allows investors to spend as little as US$4 on solar cells. Although the cost is lower than what would have been charged for electricity from the grid, the customers who receive the renewable energy nevertheless pay the price for a 20-year contract.

Sun Exchange gets a portion of the revenue to pay for installation and upkeep while also turning a profit. Investors are paid the balance. They can receive South African Rands or Bitcoin, with the latter enabling simple cross-border payments to the more than 35,000 participants thus far across 180 countries.

Biomass

Five per cent of US primary consumption, 10 per cent of global energy, and 1.4 per cent of Canada’s electrical production come from biomass. Most of this energy is used for industrial heating and other activities, which have considerable environmental benefits that include enhancing hygiene by reusing waste and lowering greenhouse gas emissions.

Utilising biodegradable materials as fuel for energy production is not out of place in the race for a sustainable Bitcoin mining business. When compared to solar, it might not offer a more significant arbitrage, but buying these energy choices from a position of strength remains the ideal.

Bitcoin Magazine reported that a Dallas, Texas-based hemp processor, Generation Hemp, sees more peer-to-peer in the future for cannabis than just passing around a pre-roll. They have unveiled plans to mine for cryptocurrency using cannabis as fuel.

Hydro

Compared to other renewable energy sources, hydropower has the best energy extraction (conversion) efficiency (up to 90 per cent), is the most dependable, and has the smallest carbon footprint.

Borgo d’Anaunia is a small municipality in the Trentino-Alto Adige area of northern Italy. The 37-year-old Daniele Graziadei became Italy’s first municipality to run a crypto data centre. Another illustration of the use of hydropower is this.

The need to be more green expands to other tokens too

VeChain is working on green initiatives to increase stakeholder involvement, such as the one agreed with the government of San Marino, or to deliver the future of safe and traceable food. According to the project’s current estimating models, VeChain generates 4.58 metric tons of carbon emissions, which is equivalent to the emissions generated by mining a single BTC.

FRZ Solar System (FRZSS) was created to combat the energy issue using blockchain technologies and web innovations. Given that solar energy is limitless, renewable, endless, pollution-free, and inexpensive, the FRZSS intends to popularise solar power plants as the primary power source. The team has also been working with other companies to reduce the cost of electricity generation.

Tezos is a green energy crypto blockchain similar to Ethereum in that it supports smart contracts and can be used to mint NFTs. The low carbon footprint of Tezos means developers and users can prioritise innovation without compromising sustainability. They have increased energy efficiency per-transaction basis by at least 70 per cent.

IMPT is a blockchain-based technology that allows individuals and businesses to swiftly and safely reduce their carbon footprint. Customers can earn carbon credits while buying online. They could even buy them directly from the platform. Furthermore, IMPT should tokenise carbon credits so users can purchase them as NFTs. The NFTs are then recorded into a decentralised ledger that users view to give traceability and transparency.

Back to Bitcoin

The large carbon footprint associated with Bitcoin mining appears to be at odds with any environmental objectives. The demand that limited electricity is used for the real economy and not for Bitcoin mining is justified in light of escalating energy prices and shortages.

Creating new strategies for the most efficient utilisation of resources is necessary. Bitcoin mining has the potential to hasten the global energy transition by serving as a backup energy buyer for the excess power balance.

Additionally, energy power plants constructed with the intention of mining Bitcoin can generate a higher profit than those built to sell the electricity at market rates, mainly when constructed in remote areas with easy access to renewable energy sources but no infrastructure for integrating them into the grid. Plant owners might use these revenues to fund additional clean energy initiatives that support ESG objectives and the world’s increasing demand for electricity.

But for these projects to be successful, Bitcoin generation and the associated value chains would need to be held to a very high standard of accountability and measurability.

 

Source: https://e27.co/green-and-sustainable-crypto-is-this-the-way-forward-20221114/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Anndy Lian Meets Crypto Curry Club: Trading, Investing And The Lessons Learned Along The Way

Anndy Lian Meets Crypto Curry Club: Trading, Investing And The Lessons Learned Along The Way

Erica Stanford, Founder of Crypto Curry Club meets Anndy Lian, book author and intergovernmental blockchain expert. They talked about trading, investing and other lessons learnt when dealing with crypto.

It’s hard to miss news of the meteoric rise in prices for several coins but crypto’s nature consists of a lot of plunges along the way due to its volatility and unpredictability and one of the biggest challenges for investors when it comes to crypto is to not get caught up in the hype. This is especially so for now that we live in an era where a tweet can easily dictate its rise and fall.

If you’re tempted to invest or are looking to have a little exposure to crypto in your portfolio, Anndy Lian, Chairman of BigONE Exchange lets you in on what to consider before taking the leap.

Give us an overview of all the different ways for people and institutions to get involved in crypto. What are some of the different ways that are being offered on the BigONE Exchange?
[00:01:59] Anndy Lian

Do you see any new trends in terms of what type of people or users are being drawn to these products and strategies?
[00:05:17] Anndy Lian

What methods would you say you see to mitigate with as less risk as possible if somebody is new to crypto and sort of cautious to get in?
[00:08:39] Anndy Lian

How do you see institutional investment in crypto going?
[00:13:21] Anndy Lian

What else do you see needs to come in for crypto to be fully ideal for new investors, but also for institutional money aside from the regulation and ease of use?
[00:19:26] Anndy Lian

Anndy Lian is an all-rounded business strategist in Asia. He has provided advisory across a variety of industries for local, international, public listed companies and governments. He is an early blockchain adopter and experienced serial entrepreneur, book author, investor, board member and keynote speaker.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. He is also the Chairman, Asia for BigONE Exchange. BigONE is a global cryptocurrency exchange that provides a platform for trading various cryptocurrencies. It was founded in 2017 and registered in the Netherlands. The group operates in Russia, Brazil, Vietnam, Seychelles, Singapore, Japan, and Indonesia, providing marketing, investment, and blockchain technology research & development.

At Crypto Curry Club, we create opportunities to build meaningful relationships, and exchange value through shared experiences on a range of topics from Blockchain, Digital Assets, Crypto to Tech for Sustainability. The club connects like-minded individuals to come together and affect real change that innovates our future while driving businesses forward.

More information about Crypro Curry Club can be found at https://www.cryptocurryclub.com/. You can visit Anndy at his personal page at https://anndy.com. BigONE Exchange’s information can be found at https://big.one.

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Think World News: Anndy Lian: Industry 4.0 + Blockchain Changes The Way We Live, Work And Relate

Think World News: Anndy Lian: Industry 4.0 + Blockchain Changes The Way We Live, Work And Relate

Anndy Lian, Book Author of Blockchain Revolution 2030 gave an opening keynote speech in Seoul at the Singapore- South Korea Immersive Program presented by Nanyang Polytechnic – Singapore Institute of Retail Studies and supported by SkillsFuture Singapore.

In the keynote opening speech, Mr. Lian highlighted how blockchain technology plays an important role to transform and create a new model of the digital economy. “Blockchain technology has enabled new business models, innovative organizational forms and work processes. It has opened doors for many new possibilities. With smart contracts, reporting and monitoring of required data, checking of compliances, and approval processes will become easier than ever. This has also given policy makers more confidence to issue regulated securitized blockchain and cryptocurrency exchanges.”

Industry 4.0 is also one of the most talked-about topics. Industry 4.0 is an emerging era of connectivity and interaction among parts, machines, and humans. The fourth industrial revolution together with blockchain will be established on trusted networks that remove the need for middlemen. Simple manual processes will be undertaken in an integrated way using digital, autonomous systems, this changes the way we live, work and relate to one another. Anndy who is also the Blockchain Advisor of Asian Productivity Organization (APO) mentioned to the audiences that we need to read more about the latest adoptions and plans made by international and intergovernmental such as APO. They provide the latest updates, trends and deep insights of emerging innovative business trends and solutions.

Kim Hyeong-joo, Chairman of Korea Blockchain Industry Promotion Association and Former Seoul Vice Mayor also presented his speech on South Korea as a nation embraces blockchain. “South Korea, the country that has been at the forefront of the crypto industry since 2017 and the nation is gradually changing its views regarding cryptocurrencies. While the lift on the ICO blanket ban was announced by the officials last month, the country has recently been vocal about its intention to lead the fourth industrial revolution, powered by blockchain initiatives. We believe that blockchain technology will change our lives.”

The 3rd blockchain immersive program is held from 2-6 September 2019 in South Korea.

 

 

Source: https://www.thinkworldnews.com/anndy-lian-industry-40-blockchain-changes-the-way-we-live-work-and-relate-391643693216243403

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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