Arkreen Wins Rising Star Award at Blockchain for Good Alliance’s Web3.0
Bangkok, Thailand — November 11, 2024 — In a significant victory for sustainable blockchain initiatives, Arkreen has secured the Rising…
Arkreen Wins Rising Star Award at Blockchain for Good Alliance’s Web3.0 Oscars, Pioneers Impactful Public Good in Web3
Bangkok, Thailand — November 11, 2024 — In a significant victory for sustainable blockchain initiatives, Arkreen has secured the Rising Star Award at the prestigious Web3.0 Oscars hosted by the Blockchain for Good Alliance (BGA). This award recognizes Arkreen’s innovative contributions in the field of blockchain-driven public goods, particularly its work in decentralized infrastructure (DePIN) and regenerative finance (ReFi) with a focus on carbon neutrality.
DePIN + ReFi: Pioneering Public Goods in Web3
Arkreen’s award-winning initiative centers on tackling one of Web3’s most impactful public goods and sustainability challenges: the historical carbon footprint of Bitcoin mining. Over the past 15 years, the Bitcoin network has consumed massive amounts of energy with significant carbon impact, and no single entity is responsible for offsetting them. However, a 100% green Bitcoin network would attract big ESG-focused institutions and corporates to purchase and hold more Bitcoins, potentially boosting Bitcoin’s price value and benefiting all Bitcoin token holders. So offsetting historical carbon emissions of the Bitcoin network is one of the most impactful public goods on Web3. With this vision, Arkreen launched GreenBTC.Club in 2023 to explore how DePIN and ReFi can combine to address Bitcoin’s environmental impact via global community collaboration and merge public welfare with sustainable commercial value.
GreenBTC in 2024: Achieving Tangible Impact
GreenBTC.Club has transformed carbon offsetting into a gamified experience, inviting community members to actively reduce Bitcoin’s legacy carbon footprint. Arkreen has turned over 800,000 Bitcoin blocks into a digital map, each representing a unit of historical energy consumption calculated using Cambridge University’s methodology. Community members can offset a block’s carbon impact on-chain through tokenized Renewable Energy Certificates (RECs), incentivized by Arkreen’s unique “play-to-impact, impact-to-earn” model.
Since its launch, GreenBTC.Club has achieved measurable results:
- Over 150,000 Bitcoin blocks were greened.
- More than 100 GWh of historical energy consumption offset.
- 20+ Web3 brands engaging communities in carbon-neutral on-chain campaigns.
This substantial progress has been driven entirely by voluntary individual carbon neutrality efforts, with participants making small on-chain payments for tokenized RECs and on-chain offset.
Building a Flywheel of Impact: Arkreen’s Strategic Expansion
Arkreen’s Growth Flywheel begins with token rewards to attract Web3 community members into voluntary on-chain Bitcoin carbon offsetting. This momentum then attracts Web3 brands, who support on-chain offset standards and engage community users in on-chain climate action. As on-chain offsetting demand grows, more distributed renewable energy projects join us to on-chain issue digital environmental assets. Recently, Arkreen has joined forces with a top global solar inverter manufacturer to incorporate developing the environmental assets of 50GW of residential solar capacity and is working alongside the solar foundations to develop their African community solar projects. In the future, we hope to attract non-Web3 brands for higher transparent, low-cost voluntary on-chain carbon offsets, aiming to become the largest on-chain REC marketplace worldwide and set the Web3 carbon neutrality standard.
Arkreen has launched two programs on the supply side and demand side that further its impact:
- Community Solar Program (CSP)– empowering global community members to connect their rooftop solar systems to Arkreen for green assets on-chain issuance.
- Plug for Green Program (PGP)– enabling climate-conscious users to use smart plugs to track their daily electricity consumption with real-time on-chain offset.
These offer a global inclusive climate action platform for people, and empowering everyone to take meaningful onchain climate action and earn rewards as valuable contribution recognition.
Arkreen also proposed collaboration with BGA to initial a launchpad of the Green on-chain Campaign on GreenBTC, giving BGA’s ecosystem partners a unique decentralized platform and tool for on-chain voluntary carbon neutrality for their brand and community members. Together, we can “Play to Impact & Impact to Earn,” building Blockchain For Good together.
About the BGA Web3.0 Oscars and Sustainable Innovation Summit
The Web3.0 Oscar is hosted by the Blockchain for Good Alliance, bringing together thought leaders, industry pioneers, and innovators to honor blockchain projects that align with the United Nations’ 17 Sustainable Development Goals (SDGs). This is not just an awards ceremony; it represents a movement that showcases blockchain’s transformative power in driving global good. Bybit, a leading centralized exchange (CEX), champions this mission with a $5 million annual investment in support of BGA’s initiatives. Bybit’s support extends beyond financial contributions, providing technical, marketing, and strategic resources to guide projects from inception to reality. Through BGA, over 52 partners are advancing impactful public good projects, highlighting blockchain’s role as a catalyst for positive change.
In her closing remarks, Helen Liu, COO of Bybit and founder of BGA, highlighted the transformative power of collective action enabled by blockchain to drive global change. Her message on leveraging blockchain for worldwide impact was both compelling and visionary.
Arkreen’s Rising Star Award win underscores the potential of blockchain-driven sustainability initiatives to tackle real-world environmental challenges. As Arkreen continues to push boundaries in the blockchain space, it sets a high standard for the public good in Web3, driving forward the vision of a carbon-neutral future through technology and community.
By Arkreen on November 12, 2024.