Pilot programme from crypto wallet and payments platform Zumo offers consumers a greener alternative to hold Bitcoin by compensating all in-app Bitcoin purchases with verified renewable energy certificates.
The ‘Zero Hero’ project trials an innovative, blockchain-powered solution from Energy Web, a founder member of the Crypto Climate Accord, for the digital procurement of clean energy.
The latest initiative builds directly on Zumo‘s recent major cross-sector report on decarbonising the crypto sector, and forms part of the announcement of its wider holistic net zero strategy encompassing the crypto industry’s path to net zero by 2030 as well as Zumo’s own path to net zero by 2035.
EDINBURGH, United Kingdom, Dec. 21, 2021 (GLOBE NEWSWIRE) — Crypto wallet and payments platform, Zumo, announced the launch of its Zero Hero pilot renewable energy purchase programme.
During the pathfinder project, customers who buy Bitcoin via the Zumo app will be guaranteed that any electricity consumption linked with creating that Bitcoin is compensated via verified renewable energy certificates – transparently and permanently recorded on the blockchain – that prove that the bitcoin is powered by 100% clean energy.
Despite ongoing progress in the energy mix of Bitcoin mining operations, the Bitcoin network remains the most energy and carbon-intensive digital currency. The Zero Hero project is an early step – as part of wider industry decarbonisation efforts – in showcasing proactive platform-side action, giving crypto enthusiasts the chance to make the greener choice for their crypto finances and decarbonise Bitcoin holdings while incentivising renewable energy generation.
Renewable energy certificates will be procured from selected projects in areas of the world that are either heavily fossil-fuel dependent, or which are known locations of Bitcoin mining operations.
The underpinning technology is provided by Zero, an innovative early-stage blockchain-based technology from Energy Web, one of the three founding organisations of the Crypto Climate Accord, that aims to open up access to renewable energy markets worldwide by bringing together renewable energy suppliers and purchasers within an open, borderless, transparent digital solution.