CRI in 2 minutes
Solving Bitcoin’s energy problem
The Bitcoin network uses more electricity than about 160 individual countries. A single Bitcoin transaction uses more electricity than an average British household in two months. If nothing is done, its detrimental impact on the climate will continue to increase. In order to have a significantly beneficial environmental impact, a paradigm shift to less carbon-intensive cryptocurrencies must occur. We aim to embody this change. Each time a transaction will occur on our network in lieu of Bitcoin, carbon credits will be generated.
The Bitcoin network performs around 100 billion billion computations per second. Specialized hardware is needed to stay competitive, and its short lifespan before obsolescence makes the Bitcoin mining activity a huge electronic waste generator. E-waste footprint of a single Bitcoin transaction is equivalent to that of 20,000 VISA transactions. Our network doesn’t need specialized hardware, and simple servers using low resources make its e-waste footprint insignificant in comparison.
Solving Bitcoin’s e-waste problem
Our team includes a world-renowned expert in the development of masternode cryptocurrencies.
Carbon credit methodology
Our methodology is being developed by Strategic Environmental Associates, a world-renowned expert in this very specialized field.
Verra has been engaged in preliminary discussions with us about its world leading voluntary program for the certification of our GHG emission reduction project.
It’s not just about electricity and CO2.
It’s about people too.
We want to have a positive impact on society. To achieve this, we commit to adopting management best practices and distributing 20% of our revenue from carbon credit sales to achieve our philanthropic objectives: a better environment and a better society.
Here’s the roadmap for the development of the first carbon neutral, officially certified cryptocurrency blockchain network producing carbon credits:
Research and concept development
Preparation of Project Idea Note (PIN) for Verra
2019 – 2020 Q1
Pressure testing and methodology development potential assessment by SEA
Develop carbon methodology concept note (CMN)
Review by Verra
CMN acceptance by Verra
2021 Q4 – 2022 Q2
Review by Verra and certifier
Develop project design document (PDD)
2022 Q2 – 2022 Q3
Audit of PDD