The world is filled with a lot of waste and we are battling with how to manage it. But the trouble keeps increasing because the waste will always be increasing. Energy is also used for a lot of things but we mainly depend on coal and fossil fuel that is harmful to the environment. Cryptocurrency is becoming more and more popular and people have diverse ways of obtaining it. Some gain cryptocurrency through mining, while others too gain it through participating in bounties. Mining cryptocurrency involves the use of a lot of energy which is even more than what households consume for their daily tasks. We know that as the price of cryptocurrencies keep increasing, more energy will be required to mine it.
4NEW seeks to solve the problem of waste management and provide energy required to mine cryptocurrencies all in one project. We seek to refine the waste in our environment by the use of machines to convert them into energy that can be used for cryptocurrency mining as well as household stuff. The energy provision will always be constant since the production of waste never decreases.
We will fund this project by initial selling of the tokens. As time goes on, we will be obtaining money from the money obtained from processing waste. The processing of waste will also enable us to obtain other organic materials that will also be sold to obtain more money to fund our project.
The coin to be used on this platform will be the KWATT token which will possess an amount of energy of 1killowatt per hour which can be used for mining.
With the help of blockchain technology, we intend to provide electricity at a more affordable price for Bitcoin miners. Token holders will not have to pay any charge for mining on-site. The mining will be free for token holders, this will make our ecosystem since other mining companies charge fees for cryptocurrency mining.
The global energy production does not meet the energy demand, demand always surpasses the production. As our community keep growing, we intend to supply energy to meet the demands of humans. As the price of mining cryptocurrencies keep rising, the price of our coins will remain the same but the energy that is needed will always keep increasing as the demand increases.
The process of waste recycling will convert the gases into unharmful gases that will not destroy the environment. With the use of blockchain technology, we intend to mske electricity decentralized so that people can assess it wherever they are globally if they purchase our coins. Our plants that produce energy will provide energy at a speed of 10 megawatts per hour, wwhich we intend to increase to 40 megawatts per hour as we improve our machines.
Our project was started by these wonderful people: Varun Datta (Founder and Chairman), Sandeep Golecha (CEO), Peter Teasable (COO, Barnaby Anderson (CMO), Gabriella Katta Davis(Markerter and Customer Relations officer), Madelein Teasdale (Business Deve1oper) and Stephen Fisher (Technical Lead).
Read more about our project on our:
My Bountyhive username: Korkorjkk