BitGreen

History

BitGreen was founded in late 2017 as a community-driven initiative, to build an energy-efficient alternative to Bitcoin and proof of work consensus. Launched as an academic exercise by a team distributed at US Universities and developers from Europe & Australia, backed by a nascent global community of mission-driven technologists and crypto enthusiasts. The initial mission was as simply worded as it was ambitious – to build a green alternative to Bitcoin—Bitcoin, just based on Proof of Stake instead of Proof of Work. The team was inspired by the breakthrough potential of Blockchain technology, and the inherent values in the design of the Bitcoin protocol, yet were aware of the dire consequences global adoption of the protocol would have on the biosphere. 

With the BitGreen Foundation formally incorporated in 2019 as a nonprofit organization and a growing global network of supporters propelling the project onwards, BitGreen has set a new goal of "empowering the growing majority of people around the world who care, with the ability to take meaningful actions every day."

To achieve this, the BitGreen Foundation laid out plans for creating an ecosystem of partnerships that would enable community members to both earn and spend BITG in a manner that generates positive impact and common good. This growing collection of impact actions, sustainable purchasing options, and donation opportunities, each with a loop mechanism that incentivizes further action, make up a ‘flywheel’ that propels volume of BITG exchange, user acquisition and loyalty, and a growing perception of value.