It is hard to imagine a world without air conditioners, vehicles or the internet. Technology has had a great impact on our world and the people who inhibit the earth today. People are living longer because technology has allowed medical research to advance. Those people are able to live anywhere in the world, in any type of housing imaginable and are able to do things that even 30 years ago seemed impossible. And technology advancements do not appear to be stopping anytime in the near future. Even though technology has advanced our capabilities and allowed us to live fuller lives, it does come with a price.
One of the greatest technological advances known to man was the invention of electricity. Now, hundreds of years later, almost everything we do requires electricity. And as we do more and more, we need more and more of it. Unfortunately, producing that electricity which helps us live better lives can be detrimental to the environment. Most of our electricity is generated from non-renewable sources that pollute our air and water.
As the demand for electricity increases, the damage to our planet also increases. And even though we love our world, we are not willing to give up the luxuries electricity provides. So, what can we do if our current and projected energy demand is not sustainable for the environment? Enter blockchain, ironically another budding technology that uses a lot of electricity.
When a technology as powerful as blockchain comes together with environmental passionate startups such as GEAR, a more sustainable energy cycle and greener world are possible. Here is how blockchain just might be the savior that our planet has been waiting for.
Cleaning Up the Crypto Mining Space
Blockchain is the backbone of the world’s booming digital currency craze, which is slowly taking over the good old fashioned dollar bill. The energy required for mining cryptocurrencies is significant, and most of the current mining farms are using electricity from non-renewable, greenhouse gas emitting sources (coal, petroleum-based fuels and other fossil fuels). But what if those mining farms changed into a closed loop green energy and renewable network that invested in green energy farms to generate clean energy that fed into cryptocurrency mining facilities? Essentially, the rise of blockchain could continue without impacting our environment. Our world could continue to innovate and create without the detrimental effects on our air and water. It not only sounds great, but should ultimately be the responsibility of those creating cryptocurrency and blockchain projects.
Nothing can change the fact that we need more energy to fuel our lives, especially as technology continues to advance. Cryptocurrency mining demands an extremely high (and ever-increasing) amount of electricity. And while no one wants to slow down innovation, something must be done to protect the environment. As blockchain promises to take over the innovation of the world, those blockchain companies need to commit to doing it in a green way.
Green energy production has become one of the missions of GEAR. The founders have dedicated their company to the growth of global green energy production and environmental wellbeing. “Our theme over the past few years has been ‘From Resources to Regenerative, meaning that we want to take a dirty industry known from extracting things from the earth and innovate it into something that can be used to give back to the earth instead,” explained Vik Pathak, the Vice-President of GEAR. And the mined cryptocurrency of the GEAR project will be reinvested back into creating green energy assets such as solar, wind, tidal and biomass.
Green Energy Innovation Research and Development
Creating a self-sustaining project in the crypto and blockchain space is the first step to encouraging further innovation and disruption in the renewables sector. To take it one step further, what if those projects invested a portion of their profits to research and development of green energy and renewable initiatives such as higher efficiency green energy sources, new renewable technologies and new forms of recyclables? This is exactly what blockchain project GEAR is planning to do. And because of it, the project is getting the attention of big names such as Larry King who has joined the advisory board of GEAR. Here is what he had to say about it.
“Fossil fuels have had their heyday, they gave us the ability to cook our meals, power our homes and travel the world. We took from the earth to progress humankind, now progression will only come when humankind gives back to the earth. The GEAR Token will incubate and nurture the cryptocurrency sector by removing the need for conventional fossil fuels, and will further promote and fund the use of Green Energy and Renewables by utilizing the rapidly emerging cryptocurrency sector to finance large scale clean energy operations. The GEAR Token aims to solve the infinite energy equation.
Blockchain and Cryptocurrencies have paved the way for this generation’s industrial revolution, and we must give it the best opportunity to survive if we’re to pass on the baton to the millennial generation for it to thrive.”
We have but one planet to live on. And while we absolutely should thrive and innovate, we must also take care of the environment for ourselves and future generations. Cryptocurrency, backed by the blockchain, is one of the biggest innovations in our history, and it is just getting started. The growth of digital currency has blindsided the world, and the power used in the crypto mining ecosystem is currently produced by non-renewable sources that pollute our air and water. This is a problem that is only getting worse, and it is only one example of the increasing energy demands of our population.
But one startup company, GEAR, is looking to change all of that. In fact, they are proving that blockchain has not only the power to better our lives across all different facets but also has the ability to do it without further pollution of the planet.
We can only hope that their lead will bring more disruption to the environmental sector and pave the way for greener energy across all industries.