GreenBTC Club Unveiled at Sustainable Web3 SG 2023: Shaping a Sustainable Blockchain Network
On November 14th, the Sustainable Web3 SG 2023 event took place in Singapore, co-organized by Wanxiang Blockchain Lab and the Singapore University of Social Sciences (SUSS) and proudly sponsored by Huawei Cloud. Distinguished speakers globally engaged in insightful discussions on key industry themes, including Web3 security, Infrastructure, and RWA. Arkreen, featured as a DePIN&ReFi leading project at this pivotal Web3 summit, introduced the impactful GreenBTC Club initiative, capturing substantial attention from prominent industry leaders, policymakers, and regulators both in Singapore and worldwide.
In the keynote address on ‘Sustainable Web3’ by Du Yu, General Manager of Wanxiang Blockchain Lab, he underscored the pivotal role of DePIN in advancing sustainable and green infrastructure development. This involves employing transparent and efficient investment and management practices, particularly in renewable energy projects. Furthermore, Du Yu brought attention to the rising trend of constructing an energy-efficient blockchain network, citing the notable shift following Ethereum’s transition from PoW to PoS in September 2022, resulting in a remarkable 99.5% reduction in energy consumption. Additionally, he addressed the increasing demand within the Bitcoin community for environmentally friendly practices.
He also mentioned that in April 2023, at the Web3 Festival in Hong Kong, jointly hosted by Wanxiang Blockchain and Hashkey, Arkreen, together with HashKey, collaboratively unveiled the GreenBTC Club campaign, uniting the global Web3 community in a collective effort towards carbon neutrality in the Bitcoin network.
During the panel discussions of Sustainable Web3 SG 2023 titled ‘DePIN for Sustainable/Regenerative Finance,’ Abba, Head of Product and Partnership at Arkreen, participated alongside esteemed speakers such as Dr. Jin Guang Yu from Building and Construction Authority, Lomi Hou, Business Development Lead of Allinfra, and under the moderation of Shihan Fang, Founder of Regen Supply.
Abba contributed valuable insights on advancing sustainability through blockchain and renewable energy resources. He emphasized that the prosperity of the DePIN ecosystem relies on two crucial components: the supply side and the demand side. On the supply side, Abba highlighted the significance of encouraging participants, both those who own renewable energy resources and those who do not, to contribute trustworthy green data to the DePIN network. This data, recorded through blockchain as tokenized Renewable Energy Certificates (RECs), provides incentives to users based on the supplied data. On the demand side, entities like companies, individuals, and communities, including Web3 climate actor communities like GreenBTC Club, can use tokenized green certificates based on green energy data aggregated by Arkreen Network to offset the Bitcoin network’s historic carbon footprint.
Abba also spotlighted the GreenBTC initiative, aiming to decarbonize Bitcoin by engaging Web3 users in various actions that contribute to carbon neutrality applications. The initiative includes an on-chain offset of a green certificate to balance the environmental impact of energy consumption in the Bitcoin network from its Genesis block onward. Abba highlighted that Arkreen, a well-known Web3 global renewable energy data network with a strong commitment to blockchain-based inclusive climate actions, introduced the GreenBTC Club to make the complex topic of carbon neutrality more accessible and enjoyable for the younger generation. The initiative encourages community climate actors to take action to contribute to carbon neutralization and aims to decarbonize the entire Bitcoin ecosystem.
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