If there are two things changing the world right now, it’s blockchain technology and renewable energy.

The world is poised to see how fast it will take to see mass adoption of cryptocurrencies. It is likewise waiting with bated breath to see if renewable energy generation and storage will achieve sufficient market penetration in time to combat climate change.

Both these technologies have proven commercial viability beyond the shadow of a doubt, but are yet to achieve critical mass for mainstream adoption.

These two technologies and industries may seem radically different from each other with very dissimilar goals at first glance. Are they really so different though?

Several green ICOs have been gaining attention for their bold plans in tackling the renewable energies market using blockchain, and WePower has been leading the charge.

Having just finished their $40 million ICO, WePower’s large amount of financial backing coupled with their expert execution has brought the notion of green ICOs further into the mainstream eye.

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Greeneum

Supporting eco-conscious energy use, Greeneum is another company looking to tackle the entire spectrum of renewable energy. Greeneum focuses on the three areas that they claim need the most attention and innovation for a cleaner future based on renewable energy.

Much like NERA, they are establishing a market for incentivizing the supply and use of green energy. They are actively trying to foster not just a community of renewable energy users, but also provide the environment which will allow it to grow beyond that. Their two other areas of focus are the technology that will allow this, such as their use of blockchain, as well as utilizing the data that this system provides.

Greeneum issues Green, an ERC-20 token that can be used for the purchase of products in the Greeneum marketplace. It can also be used to purchase carbon certificates, allowing business to offset their carbon footprint.

Green can be traded for Green Carbon Credits (GCC) which is an ERC721 token. GCCs can be exchanged for cryptocurrencies or fiat currencies, allowing companies to make real profits from reducing their carbon emissions.

Greeneum claims that carbon credits will be worth a staggering $3.5 trillion by the year 2020. This certainly seems like an industry worth targeting.

Their whitepaper and website provide a more in-depth look of the project’s aims.

Final Thoughts

It’s apparent that there are several companies competing for dominance of the “new carbon economy”.

Taking a deeper dive and looking at their respective whitepapers might give an indication to which company is more likely to succeed. However, clean energy is a colossal industry that is already accommodating many competing and successful companies outside of the blockchain world, so it makes sense that there is enough room for a few more.

Whichever niche you’re interested in, perhaps spreading your funds across several ICOs could be a clever way of minimising risk.