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GEAR Token Is The World's First Closed Loop Green Energy & Renewables Security Token Platform has gotten backing from legendary investor Jim Rogers and media personality Larry King 2018-08-18
Albert Kim blockchainnewskorea@gmail.com


▲ Left to right: Social media growth marketer Justin Wu, GEAR Token Vice President Vik Pathak


With an ever growing amount of mainstream interest coming into the cryptocurrency space, one area of concern within and outside the cryptocurrency community has been excessive energy consumption due to cryptocurrency mining efforts.


While the cryptocurrency community is rather united in believing the potentially game-changing merits of public blockchain technology, there still remains an opinion divide into the energy efficiency of cryptocurrency mining.


There have been charts and research done to show the annual energy consumption of bitcoin is on par with certain countries and that one bitcoin transaction uses enough energy to power approximately 35 homes per day. Ethereum also consumes enough energy to power 1-2 homes per day.


▲ Source: GEAR Token site


As those figures reflect cryptocurrencies that are still nascent with scalability issues, many onlookers have brought up the fact that transactions on a mainstream adoption scale would cause even greater energy consumption problems.


This is where a project like GEAR Token proclaims to have an inherent utility and real use case in mining cryptocurrencies via green energy mining facilities and investing in masternodes for proof-of-stake technologies to foster a greener way of cryptocurrency mining.


▲ Source: GEAR Token site


GEAR Token bills itself as the world’s first closed loop green energy and renewables security token.


The closed loop infrastructure is a self-financing system whereby GEAR Green Energy Farms and cryptocurrency mining facilities provide investment into many different renewable energy sectors and renewable energy into cryptocurrency mining.


Some of the green energy mining rewards will be put to fund research and development in the renewables sector led by universities and research institutes.


GEAR is an ERC-20 type token that is SEC compliant and will have a payout program that will provide GEAR token holders with dividends from their net cryptocurrency mining revenue.


Currently still in the private ICO sale round, the pre-sale round will commence November 1 at $0.70 per GEAR token.


▲ Source: GEAR Token site


The team has brought onboard legendary investor Jim Rogers from the traditional Wall Street world as well as famous media personality Larry King.


More information about GEAR can be found at their site geartoken.io


[Blockchain News Korea Albert Kim]


[Twitter: @BlockNewsKorea]

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