What Can Crypto Do for the World?
January 31 2022 - 5:42AM
NEWSBTC
When Bitcoin was first launched in 2009, nobody knew of the
dramatic impact that cryptocurrencies would have on our world.
Today, blockchain technology is being used everywhere, pioneering a
technological revolution worldwide. The decentralized nature of
crypto has awoken people to the potential of its powers. Without
banks or intermediaries of any kind, crypto enables people to send
payments, make investments, and purchase certain goods and services
without limits. Additionally, NFTs, DAOs, and DeFi allow for the
self-management of ownership rights, operations, and financial
services, respectively possible. Beyond technological applications,
people have found that crypto can be used to do real good, both for
the planet and humanity as a whole. In a project called the
“Cardano Forest”, Veritree, a restoration group that uses
blockchain to track and verify restorative projects, planted over 1
million trees across different parts of Madagascar, Indonesia,
Nepal, Kenya, Senegal, and Haiti. The operation was funded through
the philanthropic Cardano holders, with some donations weighing in
at tens of thousands of ADA tokens. Blockchain is perfect for
project tracking and verification thanks to its immutable and
transparent nature – transparency makes data stored publicly
verifiable, and immutability makes said data tamper-proof. These
aspects also make blockchain ideal for the management of digital
asset ownership, allowing the efficient on-chain issuance and
trading of shares and bonds. Bob Eco Ltd, an
environmentally-focused electric vehicle company that provides
electric two- and three-wheelers in developing countries. Bob Eco
is pioneering the digital asset space by raising funds through
something it calls an “ICOWA”, or “ICO with Assets”. ICOs, or
Initial Coin Offerings, are fundraising events during which
cryptocurrency projects sell utility tokens to early investors in
order to raise capital. In an ICOWA, digital asset tokens, not
utility tokens, are sold. Bob makes a difference by providing
electric motorcycles and electric three-wheelers in Africa. Bob Eco
offers there on a lease-to-own basis, which are custom-built
to taxi passengers and deliver food, parcels and agricultural
products. Bob also offers a swap-as-you-go service that lets Bob
riders swap their motorcycles batteries for free; this saves the
riders around $4.40 on fuel a day, making them earn almost four
times as much as traditional petrol motorcycle taxis. Bob
motorcycles are the world’s first mass-market electric vehicles
that cost less to acquire, maintain, and operate than a fuel
vehicle. With African fuel motorcycle taxis emitting around 5 tons
of carbon dioxide (CO2) every year, Africa’s estimated 100 million
motorcycle taxis emit a whopping 500 million tons of CO2 emissions
annually. Bob’s goal is to see all motorcycle taxis to be electric
within the next 10 years, aiding both riders and the world.
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