Bitgreen, a US-based climate-investment blockchain platform, has raised a $5 million investment through crowdfunding platform Republic. The funds raised will be used to launch its sustainability-focused platform in the Polkadot ecosystem, aimed to be the first Polkadot based hub for impact investment.
Bitgreen’s platform will enable backers to finance sustainability projects including conservation of rainforests, creating clean infrastructure, and supporting initiatives within vulnerable communities.
An example is arrangements with Shipibo-Konibo tribes in South America to unlock the value in natural resources through a REDD+ sale of carbon offset / environmental preservation credits. Bitgreen will deliver sustainability leaders 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.
Adam Carver, Bitgreen CEO, pointed out that climate change is the most urgent issue of our time and dovetails extraordinarily well with blockchain.
“The effects of climate change will be pervasive, so we are not surprised to have garnered such early support and oversubscribed our crowdfund raise,” Adam added.
Bitgreen aims to raise $1 trillion for sustainability projects in the next 10 years.
“Our goal to raise $1 trillion for impact initiatives and climate projects resonates with people,” states Adam. “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.”
The launch will accompany Bitgreen’s rollout of dedicated Carbon Market and Compliant Impact Investing platforms. These platforms allow investors to discover projects and foster beneficial relationships with NGOs and social enterprises.
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