Green blockchain projects are on the rise after the world’s largest asset manager praised its efforts.
BlackRock says The Energy Web (EWT) is leading the way when it comes to reducing the carbon footprint associated with cryptocurrency mining, according to a new press release announcing spot-priced Bitcoin (BTC) private trusts for investors. said it helps to
BlackRock encourages organizations such as RMI and Energy Web to track the progress of these initiatives as they develop programs to increase the transparency of sustainable energy use in Bitcoin mining. I have.
Rocky Mountain Institute (RMI), a non-profit organization focused on energy policy, helped co-found Energy Web in 2017.
Project Energy Web Distributed Operating System (EW-DOS) Offers An open-source stack of decentralized software and standards, including the Energy Web Chain and various software development toolkits (SDKs) to support a low-carbon, customer-centric energy future.
Energy Web believes member partners using its software have the power to “decarbonize the global economy” while moving to cleaner energy solutions.
The native utility token EWT will be used to pay gas bills and facilitate various services on the Energy web chain.
The Energy Web Token price has been relatively flat since early May, but the news of BlackRock’s announcement caused the price to rise earlier today.
EWT rose 37.4% from $2.67 to a new all-time high of $3.67, but slightly corrected. The altcoin is up more than 36% on the day, trading at $3.58.
Last Thursday, BlackRock made headlines across the cryptocurrency industry by announcing that it was partnering with top US-based exchange Coinbase to provide clients with direct access to Bitcoin. .
As per today’s press release,
Despite the sharp downturn in the digital asset market, some institutional investors are skeptical about how they can use our technology and product capabilities to access these assets in an efficient and cost-effective manner. We have received a lot of interest from our customers.
BlackRock is a traditional investment finance giant with $10 trillion in assets under management (AUM).
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