Varun Datta founder of 4NEW, a Waste to Energy Company focused on production of electricity to power the mining cryptocurrencies such as Bitcoin
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The new age thinking entrepreneur isn’t just about pretending to be cutting edge and superficially different and edgy. We are in the midst of a very interesting time in human history. A time that is dominated by new-age platforms like digital marketing and social media and a thriving internet community that is making or breaking businesses every day. Several big corporations are running the gamut of social media interactions, driving, shaping and steering them in their favor, but a small to medium enterprise can’t leverage that in the same way just by pumping money into digital agencies and running expensive marketing campaigns. The new age entrepreneur has to be resourceful, canny, work within limitations and leave maximum impact on his or her target group. This includes knowing your customers inside out, knowing what they want, what they expect, and how they want it and driving the marketing accordingly. The key is in simplicity. One does not have to spend inordinate amounts of money to brand and promote them self. That level of clutter and space hogging will not take you far. Keep it as narrow and focused as humanly possible and use the platforms smartly and correctly.
The best way to do this is to cut through the BS and develop the right personality. For instance, I’m a block chain-cryptocurrency enthusiast and I have installed plants that provide power to convert waste to cryptocurrency. I know my audience and I know how they think and what they stand for. Cryptocurrency has been fashionable for a while ever since the value rose dramatically some months ago and it gained widespread press, media and people attention. But I don’t want to sell you crypto. I want to tell you that it’s possible to make it renewable and sustainable. That’s what I’m more interested in, than to tell my audience that the crypto production is in exponential boom and is going skyrocket even further in the incoming years. I want to tell them that our planet is collapsing under the burden of newer technologies too; it’s simply not sustainable anymore and with the global warming threat looming over our heads, it is high time we open our eyes and embrace an eco-friendly, sustainable, energy efficient means to keep our economy afloat. Make no mistake, I’m not saying cryptocurrency isn’t going to supplant traditional transactions; it very well might do so considering the high demand for encryption and anonymity among the new-age consumer. What I’m trying to get at is that in order to make it sustainable, it must plan for future contingencies of actually running out of power. We need to get to a full-scale renewable model for the industries as soon as possible or the future might not even come. 4NEW stands for these ethos and we take resource conservation very seriously. It is our aim that cryptocurrencies in future fully embrace the waste to renewable power to fully harness its potential as a legitimate source of transactions internationally. The new age entrepreneur in short, has to play a very long-term game, think about the future and global implications than just focus on quick returns and be short sighted.
The new age thinking entrepreneur isn’t just about pretending to be cutting edge and superficially different and edgy. We are in the midst of a very interesting time in human history. A time that is dominated by new-age platforms like digital marketing and social media and a thriving internet community that is making or breaking businesses every day. Several big corporations are running the gamut of social media interactions, driving, shaping and steering them in their favor, but a small to medium enterprise can’t leverage that in the same way just by pumping money into digital agencies and running expensive marketing campaigns. The new age entrepreneur has to be resourceful, canny, work within limitations and leave maximum impact on his or her target group. This includes knowing your customers inside out, knowing what they want, what they expect, and how they want it and driving the marketing accordingly. The key is in simplicity. One does not have to spend inordinate amounts of money to brand and promote them self. That level of clutter and space hogging will not take you far. Keep it as narrow and focused as humanly possible and use the platforms smartly and correctly.
The best way to do this is to cut through the BS and develop the right personality. For instance, I’m a block chain-cryptocurrency enthusiast and I have installed plants that provide power to convert waste to cryptocurrency. I know my audience and I know how they think and what they stand for. Cryptocurrency has been fashionable for a while ever since the value rose dramatically some months ago and it gained widespread press, media and people attention. But I don’t want to sell you crypto. I want to tell you that it’s possible to make it renewable and sustainable. That’s what I’m more interested in, than to tell my audience that the crypto production is in exponential boom and is going skyrocket even further in the incoming years. I want to tell them that our planet is collapsing under the burden of newer technologies too; it’s simply not sustainable anymore and with the global warming threat looming over our heads, it is high time we open our eyes and embrace an eco-friendly, sustainable, energy efficient means to keep our economy afloat. Make no mistake, I’m not saying cryptocurrency isn’t going to supplant traditional transactions; it very well might do so considering the high demand for encryption and anonymity among the new-age consumer. What I’m trying to get at is that in order to make it sustainable, it must plan for future contingencies of actually running out of power. We need to get to a full-scale renewable model for the industries as soon as possible or the future might not even come. My company, 4NEW stands for these ethos and we take resource conservation very seriously. It is our aim that cryptocurrencies in future fully embrace the waste to renewable power to fully harness its potential as a legitimate source of transactions internationally. The new age entrepreneur in short, has to play a very long-term game, think about the future and global implications than just focus on quick returns and be short sighted.
The Bitcoin production is going through a rough phase. Blockchain— which is the authentication process for verifying Bitcoin transactions requires tremendous amounts of computing power. This is done to deter fraudsters and keep the Bitcoin transactions safe and convenient but the amount of power being consumed for it is a jaw-dropping waste. Mining, which is essentially the process of creating new Bitcoins, like drilling for oil, is growing bigger day by day unlike before when it could have been done on just a computer. But since the Bitcoin demand is on a dramatic uptick, the need for specialized Bitcoin chips and subsequently the computing power has gone up to the point that it is consuming more energy than Ecuador! The industry is becoming hugely wasteful to the point that some Bitcoin producers are setting up plants in arctic regions to cut down on cooling expenditures. The unofficial ceiling of 21 million imposed on Bitcoin production, is also leading to greater power usage to produce each new one, 24/7. But something needs to change since this huge chunk of wasteful energy can have dire consequences for our environment, which already suffering. If Bitcoin aspires to compete or replace traditional transactional models, it will have to make itself sustainable and renewable. Bitcoin is already viewed with suspicion and distrust because of some entities using it for illegitimate and illegal goals and the environmental factor could further damage its reputation. In order for Bitcoin & Etherium to be actually useful and be taken seriously, it will have to adapt to the environmental realities. One way to do this is to adopt a renewable model such as waste to renewable energy. My company, 4NEW is dedicated to making this an economic reality. We started two new plants in the UK recently to harness Etherium and Bitcoin and our company ethos reflects the concerns and negates the wastefulness I have alluded to above. We believe in the power of cryptocurrency and we want its production to reflect that same belief by making it better, safer, environment-friendly, less wasteful, renewable and sustainable for the long-term future of this exciting currency. 4NEW’s dynamic and far-reaching vision combined with the rapidly increasing profligacy of crypto in future is going to take the financial world by storm. Let’s change how we view crypto with greater literacy, more awareness, better ways and a long-term sustainable approach. That is the credo of 4NEW and we are excited about the future. Are you?
Green cryptocurrency is set to rise in 2018 because it will incentivize innovation, sustainability, and environmentally conscious purchases and counter the problem of non-renewable resources. It seems likely that the major industries will start incorporating blockchains as a centralized, reliable data pool that is comparable and transparent and safe. Etherium, which already does this by not only providing a platform for payments, but also processes is gaining a lot of interest and savvy from companies like BP, Microsoft and UBS. This appears to indicate its inevitable, larger mainstream adoption. Large-scale corporations have started embracing block chains to maintain and manage their complex supply-chains. The same blockchain can also be used to track environmental data like carbon emission points, waste reduction ratios etc. in financial terms. This move towards a sustainable transaction will also encourage consumers to switch over to it and support it because it’s more green and ethical. With global warming and environmental degradation on the rise, corporations are moving to a healthier, greener approach to their business dealings and offerings and blockchain is well integrated into that mindset and philosophy.
There have been noted attempts at greener crypto with GENERcoin, a crypto coin that can be traded for biofuels and EnergyCoin which is like a community currency and SolarCoins which come with solar energy-certificates. But nothing has caught on that successfully yet. To fully harness the long-term green potential of cryptocurrency, it makes sense to target the production itself. Crypto mining should be waste reductive and renewable as to save energy and power. It needs to be rectified at the source and that’s where companies like 4NEW come in who are dedicated to producing energy efficient and carbon footprint conscious cryptocurrency. In 2018, a lot many energy companies will leverage the peer-to-peer blockchain mechanism to exchange environmental related lifecycle data. This will be a huge up for the crypto movement. The green cryptocurrencies can also be used to make the consumers more environmentally responsible and incentivize them for being that way. This can be done by offering them green cryptocurrencies for being energy efficient, by verifying their green practices like using energy efficient lighting or electrical vehicles over blockchain. Similarly corporations could also pitch in, offer and incentivize green practices. 2018 is set to make big changes in the global approach and policies. If everything goes well, it could change the game as we know it.
Bitcoin has been known to consume as much energy annually as Nigeria. What makes Bitcoin and Ethereum function is when the network of computers repeatedly agrees to what Blockchain says is true. This process is called mining. During the process, in order to make sure users aren’t spending the coins illegitimately, a new list of transactions are added which are known as blocks. But it’s really the security feature which consumes the most power. The miners are required to convert each transaction list into a signature which proves the transaction is valid. This is done by miners as they use a cryptographical tool that collects input and reproduces a string of arbitrary numbers. But the creator of Bitcoin made it trickier by creating a competition. The goal is to be the first to finalize specific signature based on three factors- The signature of the previous block, the list of fresh transactions, and a third random number. Therefore, since the miners don’t know the exact value of the third number, they have to generate signatures repeatedly until one guesses accurately. This, in turn, consumes a lot of computation power if the miner wished to indicate to a network that his or her work can be trusted. But this is not the only technique of mining available. A large number of miners are exploring other ways and alternative methods to mine smaller cryptocurrencies. This second method, unlike the first, grants validation to a block by the volume of deposit. This is much more energy efficient compared to the traditional method but its mainstream adoption is still lagging and there are several glitches that need to be worked out. But interestingly enough, Ethereum will switch over to the second validation method soon and it would help the cause of green cryptocurrency dramatically. 4NEW, Varun Datta‘s crypto-venture, deals with waste to renewable production plants for Bitcoin and Etherium. But for the time being, we will have to make do with the traditional method but it would be prudent and smart to invest in renewable crypto processes and production in the meanwhile.
There is no easy way to put this, but Bitcoin converts electricity into money and provides a revolutionary peer-to-peer transactional model for our economy. Entrepreneurs like Varun Datta from 4NEW, a waste to Energy Company that mines cryptocurrency, are already tackling this issue despite the pundits and ecologists claiming that cryptocurrency is severely damaging the environment and contributing to global climate change. Here are some reasons why the benefits of cryptocurrency justify the expenditure costs that are required to harness them:
Whether its demonetization or inflation of currency by ancient rulers or central banks, fiat money is always subject to debasement. The currency is at mercy of their controllers and can cause problems for investors and the public. Bitcoin was invented for the simple reason to avoid debasement and provide a safe, private and secure channel for transactions. Rather than trusting some random accountant, Bitcoin relies on code and its digital DNA. It’s more accountable.
2) Bitcoin mining provides growth and employment
Bitcoin mining can be cheap, cost-effective and efficient if access to ASIC mining hardware, deep knowledge, and experience in the mining business. China is a popular source for mining because it produces the most mining hardware and several provinces have invested heavily in power generation. Miners in favorable climates with access to cheap hydro, solar, wind, geothermal energy also have an advantage to be sustainable. It is a booming industry for both the people who build these machines and people who operate them. It creates job opportunities.
3) Heat generated from mining can be reutilized
There are many data centers in the world doing this for example; IBM Switzerland uses this to heat pools. Waste heat can be useful to aquaculture and for various drying processes. Although options like wood, propane, oil tend to be cheaper, electricity tends to be more convenient.
4) Countries like Denmark and Germany sometime produce in excesses
It was reported in 2016, that Germany produced so much electricity that prices to be paid by consumers turned negative. Customers actually got paid to use electricity! Denmark has also from time to time showcased this trend where companies paid the customers so that electricity was evenly distributed. What it means is if the miners relocated to such regions, they could end up getting paid by the government and companies for their effort!
5) There is a rise in environmentally conscious mining
The mining efficiency is constantly improving and is becoming more and more environmentally conscious. Companies like 4NEW, started by Varun Datta are focusing on creating tokenized electricity from waste compost and disposable garbage, making the process of mining leaner, meaner and greener. In the next few years, the industry is expected to adopt methods set by Varun and 4NEW to ensure that the environment issue does not become a big problem for miners and cryptocurrency parties throughout the globe and people accept it wholeheartedly.
Indian expat Varun Datta’s block-chain based energy plant, 4NEW, has secured two operational Waste to Energy power plants in the United Kingdom.
The plants produce over 10 Megawatt of electricity per hour and utilise the Anaerobic Digestion technology to convert regular household waste and feedstock into electricity sold to the UK national grid.
In Q3, 4NEW is set to launch an onsite crypto-mining farm that will be powered by a dedicated electrical supply to generate Etherium, Bitcoin, Bitcoin cash, Litecoin and other digital assets.
4NEW is on the verge of developing a power supply that is on par with the electrical usage in finance havens like Switzerland, for crypto currency production.
With the electricity consumption rates on the rise worldwide along with US utility companies banning subsidised power rates to miners, 4NEW’s approach of pursuing renewable energies from waste to energy power plants makes it an innovative and cost-effective solution in the long-term.
“We couldn’t be more thrilled than to deliver to our investment community these sites, already operational in the United Kingdom. To be able to deliver two plants and begin mining is fantastic; we can help reduce the cost of mining while helping the planet at the same time,” said Varun Datta.
“Come the end of June, we will be utilizing up to 10MW per hour to mine crypto currencies bringing the KWATT to life,” he added.
Despite a series of warnings issued by the central banks that digital currency is risky and unregulated investment, interest in Bitcoin in India is rapidly on the rise.
Although the crypto currency is known for its volatility, it has gained appeal along with other virtual currencies following India’s demonetisation move last year.
London, UK. Today, 4NEW announced that they have secured two operational Waste to Energy power plants that produce over 10 megawatts of electricity per hour in the United Kingdom. The power plants, located in Middlesborough and Hartlepool, utilize the Anaerobic Digestion technology to convert regular household waste and feedstock into electricity that is currently sold to the UK national grid.
4NEW’s securing of the two power plants is positioned to redefine the crypto landscape by placing a permanent footprint for the community that will deliver for decades to come. In Q3 of this year, 4New will install onsite cryptocurrency mining farm that will be powered by dedicated electrical supply from the two plants that will generate digital assets such as Ethereum, Bitcoin, Bitcoin Cash, Litecoin and other cryptocurrencies as determined by the holders of the 4New utility token the KWATT. 4NEW has approached the crypto supply chain from the perspective of power production in response to Bitcoin’s voracious energy consumption which currently equates to the same electricity usage as the nation of Switzerland.
The conventional approach of the crypto-mining community has remained focused on mining by trying to source the cheapest power available to them. However, with 1 Bitcoin transaction consuming as much power as 34 US households in a day, a mining arms race has caused a record spike in electricity consumption. In recent months, some US utility companies have banned miners from tapping into subsidized power rates. To attack this problem, 4NEW focused their pursuit of renewable energies such as Waste to Energy power plants.
“We couldn’t be more thrilled than to deliver to our investment community these sites, already operational in the United Kingdom. To be able to deliver two plants and begin mining is fantastic, we can help reduce the cost of mining while helping the planet at the same time. Come the end of June, we will be utilizing up to 10MW per hour to mine cryptocurrencies bringing the KWATT to life” said Varun Datta, Founder of 4New.
Waste to Energy technology has been in play in excess of 100 years with 71 WTE plants within the United States and over 80 WTE plants in Europe. These plants solve two major social problems; Waste surplus and energy shortfall. It is projected that waste output will double within 25 years. To combat this waste epidemic, 4NEW has chosen Waste to Energy technology as its desired protocol to purchase, build and develop power plants globally.
“We are thrilled to participate in this deal with 4New which we believe is carving an entirely new demand and validation of the waste-to-energy power production technology.” said James Williams, representing the sellers of both plants in Middlesborough and Hartlepool.
WTE plants operate at breakeven due to revenue generated from the sale of Waste processing services and byproducts. Therefore the energy produced is free and can be sold to a national grid. 4NEW has decided to dedicate this energy to the blockchain and mine the most desired cryptocurrencies.
Varun Datta 