New app offsets NFT energy costs with bike power

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Cryptobike by Compass UOL rewards bike users in “Tour de Terre,” an environmentally friendly use of crypto

NEW YORK, Sept. 23, 2022 /PRNewswire/ — Digital transformation firm Compass UOL introduced at present its new Cryptobike mobile app, an innovative approach to inspire massive organizations to make use of cutting-edge applied sciences to assist cut back world carbon emissions and reward individuals with non-fungible tokens (NFTs) for utilizing their very own bikes.

Cryptobike customers will receive a new NFT when they ride every of the 4 stages of the Tour de Terre at 103 miles, 206 miles, 620 miles, and 2067 miles.   

Tour de Terre

Distance

Stage Name

103 miles

Plants

206 miles

Rocks

620 miles

Ice

2,067 miles

Coral

The Tour de Terre is similar in distance to the 2,200 miles in the famous Tour de France circuit, but rather than completing it at one time, Cryptobike users will log their miles when biking to work, or in the park.

Cities around America have invested in bike paths to make it safer to pedal to work, but 76 % of Americans still favor to commute by car vs. 10 % by bike. In contrast, the Tour de Terre uses crypto to help common individuals do one thing for the surroundings by themselves.

The creation of digital belongings like NFTs, known as crypto mining, already takes up 1.7 p.c of the nation’s complete power utilization according to a recent White House report. The report says U.S. crypto mining uses between 120 and 140 kilowatt-hours per 12 months, comparable to the ability wants of complete countries like Denmark.

Facing this new actuality, expertise corporations, investors, and enthusiasts are on the lookout for ways to develop the transformative functions enabled by crypto whereas mitigating its environmental influence.

“Cryptobike offers a win for the planet because the energy saved by replacing vehicles for bikes is greater than the vitality needed to create the NFTs to award riders who tackle the Tour the Terre,” says Alexis Rockenbach, CEO of Compass UOL. “This reveals how a small alternative can have a big impact on the planet and how technology can be used to make the world a greater place.”

By choosing the utilization of bikes, round 1 ton of CO2 is not emitted into the ambiance, a pollutant that a small automobile would release on this similar route of simply over 2,000 miles.

The Tour de Terre also provides partnership opportunities for organizations working on meeting environmental, social and governance (ESG) funding criteria. Companies can provide their own rewards for neighborhood milestones, corresponding to the first million miles logged. 

The Cryptobike app is available for iOS and Android for free of charge. Once installed, it connects to the favored Strava app to entry the consumer’s experience logs, based mostly on which the exclusive NFTs are minted as each stage is completed.

About Compass UOL

Compass UOL is a visionary organization which develops transformational enterprise platforms for large global organizations utilizing cutting-edge technologies. Our mission is to help our shoppers enhance their enterprise success and create disruption to build management positions of their industries. We mix the rules of digital transformation, cloud-native technologies, cognitive computing, blended reality immersive applied sciences and extra, in an agile mindset model. To learn extra, visit https://compass.uol. 

SOURCE Compass UOL

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