Bitgreen, a US-based climate-investment blockchain platform, has completed a $5M investment through the crowdfunding platform Republic, reaching its goal in under four hours.
How will the funding be used?
The funds will help Bitgreen to launch its sustainability-focused platform in the Polkadot ecosystem, aimed to be the first Polkadot-based hub for impact investment.
In addition, the launch will accompany Bitgreen’s rollout of dedicated Carbon Market and Compliant Impact Investing platforms. These platforms allow investors and key groups to discover projects and foster beneficial relationships with worthwhile organisations conducting meaningful work through climate, conservation, and philanthropy initiatives.
The climate crisis has become one of the modern era’s most pressing and complicated geopolitical issues. Yet, the estimated funding gap for green projects is $50T over the next decade. As the window of opportunity closes, finding an effective solution to mobilise the necessary resources becomes more paramount daily.
“Climate change is the most urgent issue of our time and dovetails extraordinarily well with blockchain, one of the most revolutionary technologies of our time. The effects of climate change will be pervasive, so we are not surprised to have garnered such early support and oversubscribed our crowdfund raise,” says Adam Carver, CEO at Bitgreen. “Our goal to raise $1T for impact initiatives and climate projects resonates with people. 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.”
Established by Adam Carver, Dennis Reichelt, and Gilad Goren, Bitgreen is a blockchain designed to serve sustainability markets and stimulate new innovation, financing, and community activation.
The purpose-built blockchain aims to foster more than $1T in sustainable development over ten years to help close the funding gap for the UN Sustainable Development Goals.
Bitgreen enables backers to finance critical sustainability projects, including conservation, clean infrastructure, and empowerment initiatives for vulnerable communities. Consequently, the US company will deliver community leaders, NGOs, asset managers, ESG offices, and sustainability groups the tools necessary to scale impact projects and access new communities.
The platform will host a variety of dApps, including some purpose-built by Bitgreen affiliates to facilitate a wide range of impact investing opportunities and philanthropic efforts.
As a result, companies, developers, and entrepreneurs are invited to build their products on the Bitgreen platform. Furthermore, through its Proof-of-Stake consensus model, Bitgreen’s layer-1 network consumes 99.9 percent less energy than traditional blockchain networks and protocols.