As the prices of Bitcoin (BTC) have increased this year, as have concerns about the energy consumption of cryptocurrency mining. Due to the Proof of Work (PoW) protocol for mining, some estimates suggest that the Bitcoin network uses almost as much energy as Argentina. Therefore, many skeptics are quick to blame the digital currency for carbon emissions and climate change. As a result, although some cryptocurrencies do not use mining at all, the industry as a whole is often quickly blamed for its environmental impact.
Some suggest that up to 70% of this energy should come from renewable energies to help reduce the environmental impact. Rather than being burned just once, renewable energy can be generated from sunlight, plant growth, or other natural phenomena. Therefore, it can be replenished naturally, unlike fossil fuels, which burn faster than they fill.
The energy industry was once simple in nature, with utility companies operating in the middle of the system and determining where and when to build generating capacity. Now, utilities and regulators have since attempted to position themselves as customer-centric. Unfortunately, the reality is that they were just rephrasing a narrative rather than living up to their mission. As a result, the cost of energy is often associated with control and certainty.
Distributed Energy Resources (RED) allow users to participate in what is called a global technological revolution that is shaping the balance of power between consumers and central authorities. With DER, users can regain control of the cost of energy consumption and achieve more socially responsible energy supplies.
Green Life Energy Global Ltd (LNG) is a team that aims to work on DER to keep things green with the power of blockchain. With their main product, they offer users the ability to make payments based on renewable energy and recycling projects and services, share assets, and send money between friends and family.
They share their mission: “to make the world a better place for all”. As âone of the world’s premier atmospheric restorers,â they continue to plant trees and encourage others in their community to do the same.
Help the planet
Green Life Energy Global’s main product is the Green Life Energy LNG token, a digital asset based on the Binance Blockchain (BNB). With this token, GNL is changing the entire financial sector linked to energy and recycling payments. The project will provide renewable energy to households and other cryptocurrency miners by accepting payments in local currency – LNG. As a result, the LNG team aspires to define zero carbon electricity, tree planting, waste treatment plants, green fuel, and a global climate change research center.
Taking the example of blockchain technology, the LNG Energy Token is designed to settle transactions in seconds with Automatic LP features. Every trade that occurs contributes to an automatically generating cash pool, RFI, allowing holders to earn passive rewards, farming, and staking.
The project will also include an LNG wallet, which will provide users with a platform to trade LNG with more than 100 different cryptocurrencies. The team wants the wallet to be a quick and easy way for new and advanced users to take control of their digital assets.
GNL expects the project to be long, with many big plans for the future. Among them are plans to expand their efforts around the world. While they admit that other companies are operating in this space, they are unique in using blockchain on a large scale.
The project is currently led by co-CEOs John Wood, a forestry and tree entrepreneur with over seven years of experience in energy and biomass recycling and Simone Daniele, who has a degree in computer science and telecommunications. LNG is still in the first phase of development, although plans for the near future include launching an LNG business competition, NFT distribution, partnerships with renewable energy and recycling companies, and bamboo products set. on sale in their stores.
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