Now this is an interesting concept that I’ve run across – a mix of digital currency with renewable energy. The crypto currency is backed by real Green ENERgy and their product is coined ‘GENERcoin’. The product is being offered through Arterran Renewables and according to the company combines stable value together with economic utility that neither debt-backed or gold-backed currencies offer.
Ok, let’s take a step back. Arterran Renewables is a nextgen biofuel company whose technology converts any waste with a suitable cellulose content into a solid biofuel that can replace coal. According to the company, the result is a renewable and abundant source of energy that produces significantly more energy than industrial wood pellets, with no off gassing, superior combustion characteristics, and lower handling costs.
“Arterran Renewables is very enthusiastic about the potential from this partnership with members of the crypto currency community. The mutual discovery of the benefits that each of us can offer the world is enormous,” said Arterran’s CEO Lloyd Davis. “Arterran believes both parties have disruptive innovation at the core of our technologies and our innovations will change the World.”
“GENERcoin is simply about one thing: a World with sustainable renewable energy. The world cannot afford to ignore the effects of 150 years of fossil fuel use, nor can it continue down the big energy business as usual path,” said GENERcoin’s lead visionary David Tiessen. “The effects of fossil fuel use will continue to increase the CO2 levels of the planet and negatively affect our climate and the future of thousands of species, including ours.”
“We now have the choice of business as usual and the continued burning of dirty fossil fuels and the polluting of the planet, or renewable and sustainable alternatives like Arterran Renewables,” continued Tiessen. “Mankind now has at our disposal clean, sustainable energy alternatives and Arterran Renewables with their ability to directly replace coal is the latest exciting addition. GENERcoin is the medium to deploy Arterran’s NextGen Renewable Solid Biofuel and we’re excited to get down to the business of reducing greenhouse gas emissions.”
GENERcoins will be released through a crowdsale taking place on the Master Protocol on June 11, 2014. Each participant will actually be pre-purchasing Arterran’s NextGEN Solid Biofuel at the rate of $0.062 USD per coin, equivalent to 10,000 btu calculated at a significant discount (according to current market prices as reported by Argus Media). Each coin holder then has the option of redeeming their coins for the fuel or exchanging or trading them as they see fit.