Let’s talk about Environmental Social Governance (ESG). For those who don’t know, this is simply a screening method that a potential investor could use to evaluate a company’s behaviour in terms of its sustainability.
ESG has been around since before the 1960s. It was first an investment trend characterised by companies greenwashing their profiles to be seen as responsible in the new sustainably conscious marketplace.
But there was little in the way of actual proof that these companies were really pitching in and addressing their own energy consumption or their responsibility to the future of the planet.
This gave way to the market we have today, ESG 2.0, where greenwashing is no longer acceptable, and we are looking for companies to show real proof of their commitment to reaching Net Zero by 2030.
The cryptocurrency and blockchain world has felt its fair share of criticism over its high energy use. When it relied on the original Proof-of-Work (PoW) system of mining, it really had a bad press day. But there has been steady progress in working out a way to solve this environmental issue.
This issue was addressed and solved by Sunny King and Scott Nadal in 2012 when they proposed the Proof-of-Stake system, which reduces the amount of energy by 99.95%; this is a massive improvement. But what other sustainable commitments have the crypto world been making? Let’s take a look at SolarCoin, Big Eyes (BIG), and Ripple (XPR).
SolarCoin: rewards people who create solar power
This cryptocurrency is basically a solar power rewards program, which is designed to create a monetary incentive to instaling solar power. Those who have switched and have created solar energy earn SolarCoin. Simple as that, it’s already rewarded 10,000 solar installations.
In terms of growth, this cryptocurrency has a lot more to do. This is most likely due to the large buy-in and expense that solar power has; it is not accessible to many people who really need it. But this is hopefully changing as more and more money is spent on researching ways to make it equitable and accessible to everyone.
Ripple (XPR) promises to reach net zero before 2030
XRP is the native coin of Ripple, a system to transfer money that helps users avoid large weight times involved with banks. The system is very similar to SWIFT, an international money transfers and exchanges service.
XRP is a pre-mined coin that uses a negligible amount of energy compared to Bitcoin in transfers which are almost instant and rely on a consensus system.
This practical coin is impressing the crypto world with its sustainable systems and philanthropic actions. Since 2018, Ripple has donated a total of 150 Million and boasts that it will reach Net zero emissions before 2030.
It seems that Ripple will be among many other companies across the board celebrating a commitment to sustainable development and the preservation of our planet.
Big Eyes (BIG) is pledging to help support our ocean clear-up
The new meme coin Big Eyes (BIG) is currently in its pre-sale phase 3 and has just reached 3.2 million! This meme coin is based on a very adorable green-eyed cat who is not joking around. Instead, it is pledging 5% of all its coins to charities that are on the ground clearing up the rubbish from the oceans.
These coins will be visible to the community in a charitable wallet, which immediately exemplifies Big Eyes (BIG) commitment to being a part of the effort to save our planet. The Big Eyes team are keen to explode the potential for the meme coin medium by creating a community based on sustainable values and directives rather than rivalry.
Big Eyes (BIG) is joining the push to protect and preserve our planet for the next generation of cat and dog lovers. Some might say they are just out to top Dogecoin and its contemporaries, but Big Eyes appears to be focused on creating a more peaceful and supportive community that is only concerned is the welfare of its cat-loving community and the ecosystems within our oceans.
Since the Ethereum update 2.0, the financial, physical, or ethical barriers to the crypto market are melting away – sadly, so are the icecaps. But Big Eyes, XRP, and SolarCoin are all hell-bent on supporting the global directive to stop the climate crisis in its tracks. It will be exciting to hear what these cryptocurrencies do next.
Big Eyes Coin (BIG):
*This article has been paid. The Cryptonomist didn’t write the article nor has tested the platform.