Bitgreen, a US-based climate-investment blockchain platform, has completed a $5M investment through the crowdfunding platform Republic, reaching its goal in under four hours.
How Will The Funding Be Used?
Bitgreen’s hub for impact investment is the first Polkadot-based platform launched with help from funding. The platform’s focus is on sustainability.
Bitgreen’s launch will coincide with the launch of their Carbon Market and Compliant Impact Investing platforms. These platforms allow key groups and investors to discover projects, foster beneficial relationships with worthwhile organizations and engage in climate, conservation and philanthropy initiatives.
There is an estimated $50T funding gap for green projects over the next decade. The climate crisis has become one of the most pressing and complicated geopolitical issues of the modern age. As the opportunity window closes, finding a solution to fund necessary resources becomes more important daily.
Bitgreen is a blockchain startup; its name is an allusion to the green cryptocurrency icons that appear on the Mona Lisa of blockchain, the Etherum blockchain. The company’s name also refers to their primary business objective: creating a blockchain-based platform for climate change initiatives and impact projects. Called Web 3.0, this platform is intended to coordinate resources as never before, thanks to the revolutionary technology of blockchain. When it was founded, Bitgreen’s ICO raised oversubscribed funds. According to Bitgreen CEO Adam Carver, this was due to the urgency and immense potential of both blockchain and climate change problems.
Bitgreen is a blockchain designed to improve sustainability efforts. Its creators are Adam Carver, Dennis Reichelt and Gilad Goren. Bitgreen aims to stimulate new innovation, financing and community engagement.
The UN’s purpose-built blockchain platform aims to provide $1T in development funding over the next ten years. This would help close the gap between what is needed and what is available when it comes to the UN’s Sustainable Development Goals.
By helping support important sustainability projects like conservation, clean energy, and empowerment programs for vulnerable people, Bitgreen gives people access to wider scaling opportunities. This allows anybody involved with community leaders, NGOs, asset managers, ESG offices and sustainability groups to acquire new tools necessary to scale impactful projects.
Bitgreen’s platform will include dApps created by the company specifically for philanthropy and impact investing.
By utilizing the Bitgreen platform, companies, developers and entrepreneurs are encouraged to build their products. Additionally, the Bitgreen network uses 99.9% less energy than traditional blockchain protocols. This is because it uses a Proof-of-Stake model as a layer-1 protocol.