- An environmentally conscious blockchain project is on the rise after the world’s largest asset management firm lauded its efforts.
According to a new press release where they announced the spot-priced Bitcoin (BTC) private trust for investors, BlackRock has Energy Web Token (EWT) He says he helped lead the way in reducing the carbon footprint associated with cryptocurrency mining.
“BlackRock encourages organizations like RMI and Energy Web to develop programs to bring more transparency to sustainable energy use in Bitcoin mining and plans to monitor progress around these initiatives.”
Rocky Mountain Institute (RMI)is a non-profit organization focused on energy policy that helped found the Energy Web in 2017.
The project’s Energy Web Decentralized Operating System (EW-DOS) is an open source decentralized software and software, including the Energy Web Chain and various software development toolkits (SDKs) to support a customer-centric energy future and a low-carbon system. uses the “standard stack”.
Energy Web believes that member partners using its software have the power to “decarbonize the global economy” as it transitions to cleaner energy solutions.
The platform’s native service token, EWT, is used to pay gas fees and facilitate various services on the Energy Web chain.
Energy Web Token price increased
Energy Web Token price It has been relatively stable since the beginning of May, but news of the BlackRock announcement prompted a vertical price action in the altcoin earlier today.
EWT rallied 37.4 percent from $2.67 to $3.67 before correcting slightly. The altcoin is up over 36 percent on the day at the time of writing and is trading at $3.58.
Last Thursday, BlackRock made headlines in the crypto space, announcing that it has partnered with top US-based exchange Coinbase to provide customers with direct access to Bitcoin.
The following statements were also made by the platform in today’s press release:
“Despite the rapid decline in the digital assets market, we still see significant interest from some of our institutional clients on how to access these assets quickly and cost-effectively using our technology and product capabilities.”
Boasting $10 trillion in assets under management (AUM), BlackRock is a finance giant in the traditional investment finance world.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.