State of the Union on Crypto and the Environment

State of the Union on Crypto and the Environment

By: LBX Editorial Team

Multimedia from this Release

Wednesday, May 11, 2022 - 1:00pm

The future of currency is here and the world is embracing it. The increasing demand for cryptocurrency is skyrocketing. The market is saturated with endless cryptocurrencies to choose from, and they’ve even made their way to the stock exchange with Bitcoin NFTs growing at a record speed.  

Whether you’ve invested in crypto since its birth, or you’re still not quite sure what the deal is with this economic trend, crypto is about to make some major changes that are making investors, and the public, pay close attention.  

The Big Picture: Crypto Terms  

An entire language can be dedicated to the crypto universe, some more notable than others.  

Two key concepts are proof-of-work (POW) and proof-of-stake (POS).  

Proof-of-work was designed in 1993 to reduce email spam by prompting computers to monitor email before it is sent. It had minimal impact on the cyber footprint in the 1990s. But once Bitcoin’s creator, Satoshi Nakamoto, applied POW to his currency, energy consumption skyrocketed.  

With cryptocurrency, POW algorithms determine who can adjust the ledger through a competitive race in which miners are encouraged to expend computational energy. This allows them to meet the rules of the network. Miners have to compete against each other to create a new block.  

Proof of Stake (POS) is a modified version of POW that came into the market in 2021. This consensus mechanism is designed to reduce energy consumption for determining blockchain ordering. Validators and miners are both responsible for ordering transactions and building new blocks. This design will lead to more network nodes while reducing hardware requirements.  

Companies like the crypto conglomerate Ethereum are shifting to POS to scale upgrades and conserve energy. While they have been speaking up about their intentions, the shift hasn’t been smooth due to technical challenges. 

Environmental Concerns  

2022 opened with Wikimedia no longer accepting crypto donations on the terms of “don’t align with the foundation’s commitment to environmental sustainability.” Mozilla is also taking action by reviewing how its current policy with crypto is in line with its climate goals.  

Digital cryptocurrencies have vested a lot of controversy due to the environmental impact of mining. Tesla has announced they will no longer accept Bitcoin, the most notorious crypto that takes up more energy than some countries in a single year. 

By design, cryptocurrency (especially Bitcoin) is energy-intensive; millions of high-power computers are mining it across the globe. Digital blockchains have a bad reputation for their influence on carbon offsets. As crypto miners work away on their energy-consuming computers, the world is suffering. Bitcoin takes up more energy in one year than Sweden, and China recently banned mining since it was ultimately responsible for the re-emergence of coal mines.  

What Eco-Friendly Cryptocurrencies Mean for the Future

The future of this industry is transitioning to greener mining methods. With the new regulations pouncing on Bitcoin, green cryptocurrency is on the verge of sweeping the globe.  

New cryptocurrencies that push eco-friendly missions are cropping up in the crypto space. These sustainable cryptocurrencies are in a new wheelhouse of conscious, better digital blockchains.  

Sustainable cryptocurrency has lower energy consumption and reduces carbon footprint. It doesn’t require vast amounts of energy to power its transactions and is constantly working on reducing its environmental impact. The community of such a currency is dedicated to organizing various eco-initiatives. 

Investing in Green Crypto: LBX  

Land Betterment Exchange (LBX) is stepping into the market with a mindful initiative; it aspires to transform land by inspiring multi-billion companies to accelerate the environmental cleanup of damaged land. To achieve this, they reward companies with tokens. Additionally, displaced coal miners can now take up jobs to repair the land and learn about the green transition economy.  These are net positive carbon credits. 

The crypto/environment isn’t a utopia yet, but investing in a greener token like LBX is a step in the right direction.  

LBX is not button-up corporate. It’s not crypto-mining. It’s something better. 

How do I get involved?

A rising tide floats all boats, so we’d love for anyone and everyone to get involved. The first step is to read up on LBX by navigating over to our main page for news and information. To begin the token issuance applications, simply fill out an application form and we’ll be in touch. Learn more about LBX and how you can get involved here

About Land Betterment Exchange (LBX)

Land Betterment Exchange (LBX) is an environmentally driven token that creates a financial incentive and trading market to pull forward environmental cleanup and expedite the transition away from fossil fuels while providing new sustainable livable wage jobs for the local community.  It is a token built off the ERC-20 Ethereum framework that provides a direct financial incentive to promote and accelerate environmental cleanup of negatively impacted lands from the fossil fuel industry.  Land Betterment Exchange has engaged Land Betterment as its token issuance partner to ensure that the integrity of the token issuance process is adhered to and the environment cleanup is completed. Land Betterment Exchange (LBX) is in the final stages of selecting a cryptocurrency exchange for its initial token listing. Visit the Company at lbxtoken.com and track us on your favorite platform for more information on our imminent listing and the environmental value of the LBX token. Facebook, LinkedIn, Instagram, Reddit, Tiktok.

About Land Betterment Corporation

Land Betterment Corporation, an Indiana Benefit Corporation and Pending B-Corp, is an environmental solutions company focused on fostering a positive impact through upcycling former coal mining sites to create sustainable community development and job creation.  The Company utilizes a complete solution-based lifecycle program to restore and rehabilitate the environment and revitalize communities in need of change and opportunity. Land Betterment accomplishes this by identifying un-reclaimed, run-down and neglected coal mining sites, fixing the environment through reclamation and remediation, and then repurposing the land to support a sustainable business that serves the community.  Land Betterment firmly believes that with real solutions it is possible for restoration of impacted areas to live side-by-side long term employment, while building sustainable and safe surroundings for communities and our planet.  Visit the Company at landbetterment.com and connect with us on LinkedIn, Twitter and Facebook

Company Contacts:
Mark LaVerghetta
317.537.0492 ext. 0
Chief Governance Officer, Corporate Finance
info@landbetterment.com

Stephanie Conzelman
207.205.0790
Stakeholder Engagement Director
info@landbetterment.com