Environmental raw materials are developing with new blockchain-based infrastructure
In recent years, taking care of the environment has been elevated to a global priority, as evidenced by carbon dioxide emissions reaching a new record in 2021 at 414.72 parts per million, according to the US National Oceanic and Atmospheric Administration website Climate.gov. Recognizing the impact these emissions have on climate change, many countries have announced their efforts to achieve net zero emissions.
The United States shared its plan for environmental commodity measurements via the Bureau of Economic Analysis, while Denmark is leading the way with a plan to reach net-zero emissions before 2050. By reaching net zero, a state where greenhouse gases entering and exiting the atmosphere are equal , global climate change will no longer be a threat to human survival.
Accordingly, the president and founder of 1GCX, Michael Wilson, shares, “environmental commodities, a class of assets that exist as intangible energy credits, are now recognized as the most crucial value creators of the next 10 – 50 years”. With the introduction of these raw materials, global society will have little choice but to focus on cleaner energy consumption, thereby reducing greenhouse gas emissions.
Unfortunately, despite the world aligning itself with “going green”, few understand what this path looks like going forward. While some recognize that a decentralized model involving cryptocurrency and digital assets makes sense as part of a sustainable solution, others still believe that these assets are not green and any related use cases are simply speculative.
1GCX, a platform founded in 2021 as The Global Carbon Exchange, addresses these concerns directly. The exchange represents a green technology that can bring the benefits of emerging markets to cryptocurrency market capitalization by highlighting the most promising projects in this area. The resulting two-way carbon offset trading bridge becomes part of a broad, holistic market that can facilitate adoption, education and connectivity across the crypto industry.
A goods first approach
Unlike others in the space, 1GCX incorporated a market-making, commodity-first approach to redesigning its financial markets. Also, the incorporation of linking and cross-use of crypto, commodities and carbon credits sets this platform apart from other exchanges. For users, this means a new user experience for trading on the platform, with access to live markets in carbon and energy. Therefore, 1GCX as a centralized financial exchange will become the focal point to attract interest and direct the flow of capital to the most promising projects, while supporting the adoption of newer participants starting their Web3 journey.
Looking at the rest of the ecosystem, users will come face to face with transformative offerings centered around tokenized bonds, called black bonds, and new payment systems that integrate crypto with crypto-commodity interconnections.
The 1GCX team believes they can counter market hype through concerted efforts, doing what they believe is necessary for long-term success.
The first digitized carbon values
Since May 11, 2022, 1GCX has continued to offer trading pairs of Bitcoin (BTC), Dogecoin (DOGE), Ether (ETH), USD Coin (USDC) and Tether (USDT), in addition to other well-known digital assets and physical commodities. With a strong foundation, the platform’s exchange has decided to add new cryptocurrency assets every week. It also shares roadmaps to create the first digitized carbon elements from a number of offset verifiers around the world. These assets are said to be available for trading as early as the fourth quarter of 2022.
Together, the family-run 1GCX invites interested participants to run crypto transactions through its network as the first step to help the world reach net zero.
RA Wilson, Chief Technical Officer of 1GCX, reiterates the company’s mission, saying:
“1GCX is well positioned to help achieve a net zero emissions future because we believe in a system of incentives and opportunities. Net zero is about accounting for emissions and binding in order to achieve balance in our industrialized systems. Our economic principles of open and transparent markets begin with increasing the flow of capital and taking account of unavoidable emissions through the use of free market solutions such as carbon offsets in a way that benefits everyone.”
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