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1GCX goes live with crypto exchange that embraces blockchain AND sustainability


Swiss-based 1GCX has launched its new 1GCX centralized crypto exchange, combining the power of blockchain with sustainable practices to enable secure crypto trading and create traceable carbon exchanges within the free market..

Unlike other crypto exchanges, the 1GCX platform was created to facilitate trade, provide umbrella governance, and enable interoperability between the crypto and carbon markets. Through the platform’s wrapped Proof of Work (PoW), transactions within the network will be represented by reserves and will be wrapped on the settlement ledger until assets are moved off the exchange, reducing the amount of PoW energy consumed.

Through the 1GCX platform, users can contribute to a net-zero economy via exchange data that is backed-up in real time while all user information is encrypted. 1GCX will also run on green data centres which will be powered by solar, wind and hydropower. This helps to address many of the criticisms being levelled at the crypto trading market at the moment because of its appetite for electricity.

“Blockchain can’t solve sustainability issues directly but is a magnificent tool we have in the chest,” said 1GCX CTO, R.A. Wilson. “Blockchain and related internet technologies are equipped to address ESG in ways that corporate regulation is not, including contract enforcement, asynchronous accounting structures, and facilitating a creative economic environment to overcome challenges.”

More security

In addition to its sustainable operability, 1GCX also makes use of accounting mechanisms which provide full finality of crypto transactions, smart contracts to allow for fungibility between carbon offerings and crypto markets, and more. 1GCX is also offering high level security protocols, testing, and certification for accounts, assets and compliance. The platform’s security features include two factor authentication, AIS-31, and regional access controls to prevent unauthorized account activity and sanctions compliance.

One of the key obstacles that currently exists for crypto trading participation in the minds of many larger investors has been the security angle. It also keeps regulators like the SEC up at night. Prioritisation of security at the exchange level is a good indicator of how independent exchanges are taking these concerns more seriously.

Global temperatures are rising at a rate of 0.14 degrees Fahrenheit per decade since 1880, and 79% of U.S. individual investors and 99% of millennial investors are interested in sustainable investing. 1GCX says it has never been more important for both organisations and individuals to have more environmentally conscious investment options. 1GCX is hoping it can offer organisations and consumers in the United States, Canada, Europe and the UK, the ability to trade currency, including Bitcoin and Ethereum, on a secure and sustainably focused exchange.

“Cryptocurrency doesn’t need to be limited to ‘monetary centric transactions’ as a technology,” said Michael Wilson, President & CEO of 1GCX. “Combined with the efforts of accounting for carbon, using 1GCX will allow investors to buy and trade new products and services in the open market that will increase economic growth and velocity.”

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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