4NEW is a unique take on the implementation of blockchain technology, using it to connect industries looking to get rid of trash (or biodegradable products) with those interested in generating electricity through the incineration of such waste products.
What is 4NEW?
While the team is using Ethereum to raise funds in an ongoing token sale (with an end date of Dec. 15th), their proprietary blockchain (yet to be developed) will be used solely for the maintenance of waste to energy supply chain logistics. 4NEW plans to get the ball rolling on their project by constructing 3 of their own waste-to-electricity facilities, all located in England.
4NEW describes itself as:
“The world’s first eco-friendly, tangible
Waste to Energy blockchain solution”
With something of an ambitious timeline, 4NEW plans to have their 3 plants up and running by the end of 2018, having already obtained licensing permits and completed the regulatory paperwork for their construction. Those wishing to purchase electricity generated from the plants will need to acquire the Ethereum-based 4NEW tokens (FRNC), with each plant on average charging an estimated $0.13 per kilowatt of electricity. In regions of the country (or world, as the team also has plans for expansion into several developed and developing nations) where electricity is more expensive than this, FRNC tokens thus achieve greater value, as they are a means of access to cheaper power supplies.
In addition, 4NEW has plans to let customers monitor their consumption of energy through the usage of their own, blockchain-based “Smart Meter” system – a standard electricity consumption monitoring method that is already used in the U.K. and other parts of the world. For the first time ever, such monitoring and logistics of waste-to-energy transfer will be accounted for via the blockchain, making 4NEW a truly revolutionary new way to employ this technology, first developed by Satoshi Nakamoto, and the cryptographic mechanism behind the security and functionality of bitcoin.
How could 4NEW save the world?
What makes 4NEW an outstandingly clever idea for the whole of humanity is the fact that they are presenting a method to simultaneously fill power demands while reducing the amount of garbage that may otherwise end up in landfills, or worse places. With geometric growth of the human population (projected to approach 10 billion by 2050) will undoubtedly come worries of filling electricity demands; indeed, in an era where coal power-based pollution has already been determined to have severely negative health effects, and with knowledge that fossil fuels are a finite, limited resource, the human race is beginning to realize its responsibility toward the success and fruitfulness of its future generations.
(graphic from the 4NEW ICO whitepaper)
Compared to coal, natural gas or even nuclear-based power sources, waste-to-energy conversion as a power supply is relatively clean, and most of its solid byproducts can be used to create building materials, such as concrete and asphalt. 4NEW plans to streamline the logistics process even further via blockchain communication and accounting, to assure that the transfer of waste to electricity to consumer is as quick and efficient as possible. The ambitious plans of this well-organized, highly public development team include not only the generation and delivery of in expensive electricity but also has the potentially positive “side effect” of reducing greenhouse gas emissions while simultaneously reducing the amount of garbage rotting away in landfills, which also creates toxic emissions of their own.
What about future growth?
If 4NEW catches on and their first 3 plants are a success (generating power at rates substantially lower than average for the surrounding locations), this could lead to the construction of several more similar plants around the globe, meaning that not only would FRNC tokens gain value and demand, but also that this novel type of blockchain startup company has the potential to “disrupt” the entire, multi billion-dollar power industry.
As previously mentioned, reduction of the worldwide reliance on coal, gas or nuclear-based power supplies also carries with it the advantage of contributing to a greener, more sustainable planet, as we will no longer have to unearth coal and gas deposits or create nuclear waste to fulfill our ever-growing energy demands. Such natural resource deposits are millions – or even billions of years in the making – yet it has only taken a couple hundred years for them to have quantifiably adverse effects on the human condition and the biosphere in general. 4NEW offers a step in the right direction towards the solving of waste, pollution and power problems that currently plague much, if not all, of the world.