Bitgreen, the company building blockchain's epicenter for sustainability, prepares to launch the first phase of its layer-1 network built to empower climate-action initiatives. The company's operations follow a fully subscribed $5 million Reg CF crowdfunding raise on the Republic platform, reaching its goal in under four hours. After a year of development, the company has prepared the infrastructure for its pioneering, sustainability-focused platform in the Polkadot ecosystem.
The climate crisis has become one of the most pressing and complicated geopolitical issues of the modern era. While governments and corporations work to enact meaningful change to address this emergency, a long road ahead remains to achieve the U.N.'s Sustainable Development Goals (SDGs). The estimated funding gap for green projects is $50-trillion over the next decade. As the window of opportunity closes, the imperative of finding an effective solution to mobilize the necessary resources becomes more paramount every day.
Bitgreen recognizes the need for action, creating a new parachain and suite of decentralized applications to foster a blockchain-based hub for impact investment. Bitgreen enables backers to finance critical sustainability projects, including conservation, clean infrastructure, and empowerment initiatives for vulnerable communities. Bitgreen will deliver community leaders, NGOs, asset managers, ESG offices, and sustainability groups the tools necessary to scale impact projects and access new communities. Through its Proof-of-Stake consensus model, Bitgreen's layer-1 network consumes 99.9 percent less energy than traditional blockchain networks and protocols. This will allow the platform core to minimize its environmental impact while embodying the values of ecological and philanthropic responsibility.
Bitgreen's vision is to empower green projects to attain vital funding to combat climate change, build green infrastructure, and create a space for innovators and disruptors focused on improving the world. The Polkadot parachain deployment is set to occur within the coming months.
Through the $5 million raised by individual investors on Republic, Bitgreen is set to launch its parachain on Polkadot as the singular impact investing blockchain within the network. In addition, the launch will accompany Bitgreen's rollout of dedicated Carbon Market and Compliant Impact Investing platforms. These platforms allow investors and key groups to discover projects and foster beneficial relationships with worthwhile organizations conducting meaningful work through climate, conservation, and philanthropy initiatives.
"Climate change is the most urgent issue of our time and dovetails extraordinarily well with blockchain, one of the most revolutionary technologies of our time. The effects of climate change will be pervasive, so we are not surprised to have garnered such early support and oversubscribed our crowdfund raise," says Adam Carver, CEO at Bitgreen. "Our goal to raise $1 trillion for impact initiatives and climate projects resonates with people. It is a daunting and wild objective, but we are convinced the time is now to swing for the fences and be confident in the power of blockchain and web3 to coordinate resources as never before."
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