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COP26 – Finance Day: Green Crypto meets Green Racing

COP26 – Finance Day: Green Crypto meets Green Racing

Envision Racing announced its brand new partnership with the Algorand Foundation last week, on the eve of the COP26 Climate Change Summit. Unveiled in Glasgow on Monday, the greenest car on the greenest grid now has green crypto, and we’ve been pleased to be part of the journey. Head of Global Marketing at Algorand Foundation, Stephen Duignan, revealed more about the partnership in his recent blog.  

“The Foundation has partnered with Envision Racing to bring the phenomenal potential of the Algorand blockchain network to the attention of the wider world. To do this, the Algorand Foundation wanted to find a sport and a partner that shared the same features of high performance, innovation, sustainability, zero-carbon impact, and a technology-transformed future. These are the fundamental features of the Algorand blockchain and we needed to find a sport and a partner that enabled us to clearly articulate these features to a wider, global audience. If the wider world isn’t aware of the potential benefits of the Algorand blockchain and its vibrant ecosystem, how will they be inspired to build on it? 

Enter Envision Racing and Formula-E. Envision Racing has long had the reputation, built over 8 years in F-e, of being the “Greenest team on the Greenest Grid”. Their success in racing is phenomenal, with 11 wins and 33 podiums displaying their passionate, winning approach to competition and they have done this while delivering on a fundamental commitment to zero-carbon impact, sustainability in all they do. Every day, they prove that it is possible to compete, innovate, race, and provide enjoyment to millions — while fundamentally respecting the planet. 

This is exactly how the Algorand Foundation views the potential of the Algorand blockchain (for more info, start here). Algorand not only delivers a transformative platform for high performance, global scale, new digital economy applications but it does so on a network that was designed from the start to be low energy and carbon negative and a platform for innovation that embraces sustainability at its foundations ( click here for a deeper understanding of Algorand carbon-negative approach ).

Innovators and developers who build on Algorand can do so knowing that their applications will have all Algorand’ s carbon-negative features at the heart of their applications. Fundamentally, if you build your innovation on a sustainable platform at the start, that sustainability is locked in for the lifetime of your business. This commitment to high performance and carbon negativity marks out Algorand as a clear leader in the blockchain space, where energy consumption and carbon footprint remain problematic despite significant improvements in the space. 

While the racing will start in 2022, Envision unveiled their 2022 race car today at COP26 in Glasgow ( https://ukcop26.org/ ). Envision Racing is the only car racing team that has been accepted to participate in the COP agenda due to their approach to zero-carbon racing and their Race Against Climate Change initiative ( https://envision-racing.com/race-against-climate-change/ ). The new 2022 race car, featuring the initial Algorand branding, will be on display for the entire duration of COP26. 

For the upcoming seasons, the Algorand Foundation will use the formula-e race calendar to deliver amazing in-person developer event experiences to innovators building on Algorand, race day experiences to our Community Governors through competitions & prizes, and to offer the global Algorand community the chance to gain an insight into the passion and excitement of electric racing. And for the racing fan, we hope to introduce you to the amazing potential of the Algorand ecosystem, its community, and the economic wealth creation built on the native token of the Algorand blockchain, the $Algo. 

Today is just the start, with #GreenCrypto meeting #GreenRacing at COP26 — then it’s time for the world to find out about #GreenCrypto, about Algorand & the Algorand Foundation, and most importantly, to find out about the new, borderless digital economy of the future, that is being built today on Algorand.”