4New — Latest Updates from the most exciting ICO
I’ve published a number of articles now on the 4New Limited project and what they have to offer. In short, they’re the world’s first eco-friendly, tangible Waste to Energy blockchain solution. If you would like to find out more about their project, you can read my first article here.
This article however, will be focusing on the very latest updates from the team. Nowadays, most breaking news tends to be announced to their community via their Telegram group. It has a lovely feel there, a vibrant committee with tentative admins who treat you with respect and answer most questions in minutes, for the detailed business related queries these are usually escalated to the group guru — The Answer for Everything
So let’s take a look at what’s been breaking;
The first ICO to be advertised in Times Square, New York.
Times Square video will play three times every day from Monday through Friday and then Monday through Wednesday at the following times daily.
09:18
15:58
17:40
Here is the first look at the billboard. A video will be released in due course.
There are ongoing discussions to look into the feasibility to having this repeated on New Year’s Eve … The only confirmation I have about this so far is that I would hate to see the bill for that advertising spot!
4New Mining Farm
Just today, absolute MASSIVE news broke that 4New would no longer be selling their conversion of Waste to Energy to the National grid, but would instead be using this to power their own Cryptocurrency Mining Farm.
The team plan to mine the top 20 cryptocurrencies like BTC, ETH, LTC, etc from their mining farm which will initially be setup on the same site as their Waste to Energy Plant.
Here is the announcement in more detail from The Answer for Everything
Firstly, 4NEW Management has decided that the sale of electricity to the national grid, as previously planned, will no longer occur. Instead, the electricity produced by the plant will be redirected to powering 4NEW’s own mining farm. Since revenue generated for the collection of waste allows us to operate the plant at breakeven, the electricity produced is all free to 4NEW and therefore subject to allocation at management’s discretion. Instead of collecting this profit from a National Grid, 4NEW will now allocate all this electricity to powering mining farms that will drastically and dramatically reduce the cost of transactions associated with mining Bitcoins, Ethereums and any of the top 20 cryptocurrencies. Currently, 1 bitcoin transaction consumes as much electricity as 7.55 households within the United States for 1 day. Exponential growth and rise of cryptocurrencies is not feasible without a power solution that enables scalability for mainstream cryptocurrency adoption. We believe our model will redefine blockchains with a real scalable solution that can transcend borders into a global solution at a time when cryptocurrency is standing at the brink of the tipping point in its energy consumption.
New Management
In the same blockbuster news drop from above, it was bought to our attention that 4New has New management.
4NEW is proud to announce some new members to the management team. Mr. Saransh Sharma, CEO of Mirach Capital Group will be President to 4NEW and Mr. V Datta, CEO of Four Seasons Capital will be Chairman to 4NEW. As representatives of the institutional investors in the 4NEW project, both Mr. Sharma and Mr. Datta will bring invaluable experience and perspective to the 4NEW revolution in order to position us as a leader within the Crypto-community. You can now view their profiles on the website.
Under the new management, 4NEW is now able to demonstrate a much clearer path forward for all its investors and token holders.
Extended ICO
With light of all the recent changes, and all the obstacles the team/potential investors have had to overcome … can you say CryptoKitties … the team have decided to extend their ICO period till January 31st, 2018. This will now allow all investors to complete their transactions through the holiday period. The valuation of the coin will be at the same rate as 1 Ether for 170 FRNCs until Jan 31, 2018.
I’m sure you can all agree this has been a HUGE update post as the news came crashing through today like a tidal wave!
It’s very much an even more exciting time to be a part of this fantastic project as you have the full cycle now … An eco-friendly project which reduces landfill, converts Waste to Energy and then uses that Energy to power it’s mining farm … It’s simply genius!
Sources
Website
Whitepaper
http://www.4new.co.uk/4new_whitepaper.pdf
Lightpaper
