Over the past few months, we have seen quite a number of ICOs that has been proliferating at an alarming rate but the problem is getting involved with the ones of value and with a productive concept that can change the perspective of what the community and the globe at large thinks about the blockchain industry, so today, i will be talking about one that fascinates me a lot and that’s 4NEW, a tokenized electricity that’s about to revolutionize the blockchain industry, so lets talk about it and what it entails.
The blockchain industry is growing fast and the industry is been embraced because of the transparent nature that surrounds it, Cryptocurrencies global market capitalization has surpassed $500 billion USD rising over 2000% in 2017 but there is a problem, the consumption of energy from the blockchain industry is enormous, as of March 31 2018, Bitcoin mining energy intake has officially surpassed the entire energy consumption of the country of Singapore, which ranks 43 globally in regards to energy consumption, this is huge and needs to be checked if the blockchain industry must survive and yes, that’s where 4NEW comes in.
Earth is our home and we have no other place to go, with the increasing number of waste, it becomes imperative that we create avenues where we can transform waste to something that will be beneficial to the community, in other words, renew them and create a more ecofriendly environment for the community.
Putting the above into perspective, streamlines our discussion into two broad aspects, which is waste management and power consumption and what does that have to do with this project?, well, 4NEW is the world’s first ecofriendly, tangible, blockchain ecosystem powered by waste to energy power plants. The concept is quite simple, the process of refining waste product into water and organic materials creates energy and that is then leveraged to either be sold to the national grid or applied to operate mining processes at an onsite mining farm, the project brings 2 huge problems together and convert both to one solid refined and beneficial product, which is energy.
The materials needed for the generation of the energy is waste, which is readily available and the best part is, waste is free, which invariably means that the cost of the energy supply will be far more less than the conventional way of power generation, lets not forget that this is also the first of its kind in the blockchain industry and as usual, gives them that “PIONEER EFFECT” and an edge over others that may or may not spring up.
For coin holders, they have the ability to mine any cryptocurrency of their choice for a lifetime without paying a dime for their energy bill, yes, you heard me right. The energy is free to us, so it is free also to the coin holders.
Also, 4NEW tends to eradicate our environment of waste that are harmful to us and our environment, on the part of us humans, the spread of disease and infections can be seen in areas with high waste rate and to our environment, is one of the major causes of global warming, most of the waste give off methane gas, that is hazardous to our environment and also increases the rate of global warming.
Finally, 4NEW is an absolutely outstanding project that will revolutionize the power industry and improve our lives and that of the blockchain industry, by providing the community with alternative source of power that will give the community a sigh of relief from the impending danger of the excessive power consumption of the blockchain industry and clean our environment at same time, the ICO is still ongoing, some videos of their power plant is already available on YouTube , this goes to show of how reliable the team is, that been said, i invite you to be part of the community.