On the 8th of February Elon Musk and the Musk Foundation announced the largest incentive prize in history, the XPRIZE. They offer 100 million dollars in order to fight climate change and rebalance Earth’s carbon cycle.
Musk announced his decision, right after investing 1.5 million dollars in Bitcoin. The XPRIZE tries to sustain development and future technologies by eliminating the harm they cause. It is a necessary step since Bitcoin is responsible for nearly 37 million metric tons of carbon emissions each year. Only this cryptocurrency´s emission alone is comparable to the annual carbon footprint of the Netherlands. In case we want to keep up with the next financial revolution without destroying our planet, we need to act urgently.
The idea of the XPRIZE is not the first on its own but the follow-up of other initiatives. In 2007, Richard Branson launched the Virgin Earth Challenge in order to remove greenhouse gasses from the atmosphere. The 25 million dollar price never found its owner, however, the problem of global warming is more serious than ever.
The application is open to everyone. Students, scientists, and professionals from any area are welcomed to participate. Since you never know, the idea that will save our planet can come from anyone.
The XPRIZE application opened on the 22nd of April, on Global Earth Day, and will run for four years. At Floating Particle, we are excited to submit our own application and give our knowledge for a higher good.
Until then all we can do is to focus on less emission. Such as our SiCO product does, that optimizes industrial combustion efficiency, while also significantly reducing emissions. Learn more about our Intelligent Combustion Optimizing System here!