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Zumo scores government funding for crypto decarbonisation push
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finextra.comZumo's Zero Hero pilot project saw the acquisition of Renewable Energy Certificates (REC) to compensate for the electricity usage of bitcoin bought via its app. Over the pilot period, bitcoin to the value of £1.5 million has been covered by Zero Hero REC purchases, with a total of 850 megawatt-hours of electricity compensated via the programme - enough energy to drive an electric vehicle for over three million miles.
Now, Zumo and its partner Zero Labs have been awarded a grant by Innovate UK to further fund research into the decarbonisation of crypto. The RenewableCrypto project will kick off later this month and see the partners look to find practical ways in which wallets and platforms can scale the use of renewable energy.
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