Green and gold: The crypto projects saving the planet

It seems that the potential benefits of cryptocurrency are sometimes overshadowed often by its inherent vulnerability to exploitation.

It’s true that crypto adoption comes with its risks. Over the past year, governments around the globe have expressed concern that crypto could be used for terrorist financing or any other illegal activity such as money laundering. From China to Nigeria, there have been many prohibitive measures that have forced many crypto exchanges into a legislative chokehold.

Although crypto is not without its problems, it has become an important tool for activists and policymakers who want to make the world better.

Climate crisis

Public scrutiny of Bitcoin (BTC), which is an energy-intensive mining process, dominated headlines throughout 2021. According to Digiconomist Bitcoin mining uses the same amount of energy as a small country such as the Philippines or the Netherlands.

Many environmental activists have begun to use the same technology in their fight against climate change. Smart token contracts, for example, have made it possible for charitable institutions to raise funds in ways that were not possible before.

Many of these “charity tokens”, which are also known as “charity tokens,” have a tax system that charges fees for every transaction. These fees can then be wired directly to the charity of your choice. The World of Waves token (WOW), for example, is on a mission restore the oceans of the planet and fight climate change.

The world’s oceans could have stored as much as 1 sextillion joules more heat energy in 2020 than they did in 2019. Warmer water can contribute to melting sea-ice. The seas could have absorbed enough heat to boil 1.3 million kettles of water last year. Support climate conservation efforts by purchasing $WOW pic.twitter.com/4ehOOc2iq0
— World of Waves (Official), (@World_Of_Waves), November 13, 2021

Project holders pay a transactional tax at 11%. This is distributed back to them, to the liquidity pool at 3.3% and to WOW charity wallet at 4.4%. Funds are drawn monthly to support nature conservation and preservation activities. The project’s Twitter account shows that over $49,000 has been donated. Kristijan Tot, WOW chief operating officer, told Cointelegraph:

“It’s about having a positive effect on causes all over the world and shining the spotlight upon NGOs, creators, and others.”

This way charitable giving is embedded in the token’s algorithm. Holders are incentivized not only to invest but also to stay invested in the project.

WOW is not the only cryptocurrency project that uses this technology to raise money for environmental causes.

Solarcoin offers tokens to reward people who have solar panels installed in their homes and businesses. Solar will become virtually free if the cost of the coin is higher than the energy production costs. According to the website, the project:

“Cryptocurrencies are valued at more than US$2 trillion as of today. The majority of this value was exchanged for crypto mining that is carbon-intensive. What if that value was distributed to people who produce energy for free?

Black Lives Matter

However, environmental conservation is not the only problem that crypto projects have tried to address over the past year. The world witnessed in horror as George Floyd was shot and killed by a police officer. His death ignited a new movement called Black Lives Matter and sparked controversy within the crypto community.

Cointelegraph reported that a group tried to profit from the chaos by releasing a George Floyd token. This token was a project with uncertain payment systems and shaky tokenomics. A sign proclaiming “Bitcoin will Save Us” was also seen at the protests.

The cause was supported by the larger community, despite the bad taste in these cases. The Giving Block, for example, made it possible for users to donate specifically to non-profits that support Black Lives Matter movements like the Chicago Community Bond Fund, Movement for Black Lives, and the Bail Project.

Gitcoin partnered with the crypto crowdfunding platform to launch its #CryptoForBlackLives campaign in 2020. Gitcoin initially matched donations upto $25,000 via a community grant. However, this total was increased to more than $100,000 after the campaign’s conclusion.

Black activists have worked tirelessly to ensure that their communities can benefit from crypto’s monetary benefits. Taviona Evans, founder and chief engineer of Guapcoin(GUAP), says her platform was able achieve more in 2021 than ever before. GUAP was established to close the wealth gap between Black communities and support Black-owned businesses within the United States. Cointelegraph was informed by her:

“We have raised awareness about crypto among people with limited access to crypto and finance education — and we will continue to do so.”

Healthcare improvement

Healthcare and mental health are two other areas where crypto projects have made an impact in charitable giving. Many people suffered severe health problems in 2021 as the COVID-19 pandemic spread.

One of the most surprising results of the coronavirus’s impact on crypto and blockchain was perhaps its profound effect on crypto. This can be traced back to the pandemic’s origin in late 2019.

Blockchain technology has been used from Australia to Mexico to verify the authenticity and validity of COVID-19 results and vaccination certificates.

To support those affected by the virus, a number of tokens and crypto funds have been created. As a result of the second devastating wave of the virus that decimated his country, India, Sandeep Nailwal, co-founder of Polygon, created the COVID Crypto Relief Fund in April 2018.

By mid-October, the fund had raised $429.59million. It was supported by Vitalik Buterin (Ethernet founder), Australia cricketer Brett Lee, and Balaji Srinivasan, Coinbase chief technology officer.

#India @[email protected] @RyoshiResearch A #India #Covid #CryptoRelief Fund donation was made! This is great news for all! This is good news for everyone, both those who supported it and the ones that didn’t! What do you think #ShibArmy?https://t.co/dbxNx84bVF pic.twitter.com/fe7w5swdge
— September 26, 2021, SHIB INFORMER (@ShibInformer).

Are crypto-currencies a social force or a threat to the environment?

2021 was the year that proved crypto to be morally neutral. The same technology that was used to finance terrorist acts was used to help fund healthcare during the COVID-19 pandemic. While debates raged about the environmental impact of energy-intensive BTC mining projects on the environment worldwide, others have created crypto projects and tokens that will save the planet.

We are now in 2022 and the decision about whether crypto is a positive or negative force remains up to the holder.

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Jason Basler

Jason Basler– Financial Updates My Name is Jason Basler and I am also the main source from the ‘Topnewsscoop.com’ of all the exclusive and most delicate visualization of the activities in the business sector. My first step towards this journey was taken in the very early years of my life. I started with an independent financial consultant. However, I only had almost 4 years of skills and experience in this market. I have always been a free personality and like to fly one place to another, to explore more and more. Moreover, this passion and craze of traveling gave me a chance to report a section for best news associations. Last but not least, I am presently working full-time as an editor. Address: 4830 Crim Lane Dayton, OH 45402, United States of America Phone Number:  +1 937 727 7917 Email: [email protected]

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