A blockchain-based algae biomass project, which is built on the energy-efficient Tezos blockchain in a world first, has been announced by leading capital markets technology firm, Globacap.
Developed and operated by Sustainable Impact Token (SIT), the project will support the development, construction, and operation of algae biomass farms. The initiative will use blockchain technology to bridge the gap between two of the fastest growing investor markets in the world – asset-backed finance and crypto.
SIT's algae biomass farms produce high quality, non-animal protein, based on a system powered exclusively using renewable energy. These algae farms are absorbing large amounts of carbon out of the atmosphere and a net producer of renewable energy. The SIT project is currently supporting the development of a "proof of concept" algae biomass farm in Europe using patented, sustainable technology.
Myles Milston, CEO of Globacap said: "Being part of this pioneering project marks an important...
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