One of the biggest hot-button issues within the blockchain industry is that of energy. This topic often centers around the energy used in the running of blockchains and the mining of cryptocurrency. With regards to this, the industry is often criticized as an energy-intensive one and one that is bad for the future of the planet.
However, there are a number of blockchain and crypto projects that are not just working to not be overly energy-intensive but to reduce carbon emissions across the board. One of these is Restart Energy Innovative Technologies AG (REIT), which announced on [DATE] that it would be launching the world’s first sustainable STO on DAURA, a Swiss blockchain platform.
REIT Saving the Planet
As per the official announcement, REIT is looking to raise 7.99 MN CHF by issuing participation certificates on DAURA. The funds raised from issuing these certificates will be used to develop a number of renewable energy through Restart Energy One SA, a private energy supplier in Romania that has previously listed to first-ever green bond on the Bucharest Stock Exchange.
The funds will also be used for the development of the RED Platform, a blockchain platform that provides an end-to-end carbon offset system as well as a carbon marketplace. Keeping in line with the theme of sustainability, all participants in the STO will have to provide proof of offsetting all their carbon emissions and achieving net-zero status.
To do this, they will have to sign up on the RED platform after which special tools will calculate their carbon emissions and they will have to provide proof of either engaging in sustainable practices like green energy production or by purchasing carbon offset certificates on the platform.
According to the management of REIT, the primary goal of this effort is to help companies become more sustainable while removing many of the entry barriers that often prevent them such as bureaucracy and costs.
“Our goal is to use bleeding-edge technology and innovative business models to democratize a sector burdened by bureaucracy and transaction costs: freeing up capital, saving money, helping local power producers earn more and laying the groundwork for a sustainable future. Experienced in the traditional energy supply business, REIT AG understands that the future of energy production and consumption lies in giving people and businesses freedom to access and participate in a more sustainable energy ecosystem unfettered by bureaucracy and outmoded business models,” said Armand Domuța, Chairman of the Board of Restart Energy Innovative Technologies AG.
Securing a Sustainable Future
These days, sustainability is the word, for both people and companies. However, switching to a more sustainable model is complex for individuals, much fewer companies. But with initiatives like what REIT is doing are allowing companies to switch to these sustainable models with more ease.
From the system of accountability to the removal of entry barriers, this sort of project will go a long way to securing a green future on a large scale.