King has been focusing his energies as a member of GEAR’s Advisory Board, helping the small startup, still in incubation, to raise funds for the growth of green mining technologies to decrease energy consumption in bitcoin mining which has contributed bitcoin a bad rap with environmentalists.
Bitcoin mining utilizes the same amount of electricity as the countries of Chile and also Austria and more than Switzerland, Columbia and Iceland according to some chart on GEAR’s website.
Aware that the U.S. government can be getting a bad rap against environmentalists, GEAR is expecting to cancel any doubts that global climate change is a critical issue.
&ldquoWe need GEAR for a way to join and introduce standard fiat investors to crypto in ways they understand and hope. ”
GEAR states that the total energy consumed by the BTC system in 1 year could power 6,585,585 homes for that identical calendar year. One bitcoin transaction uses enough electricity to power 34 homes per day.
Larry King calls GEAR “the world’s closed-loop green electricity and renewables-focused nominal investment system helping promote environmental sustainability. ”
“Our mission is to utilize blockchain and crypto to assist and give back to the Earth through things such as building more and more tangible, real-world resources, including hydroelectric farms, solar farms, etc. every year together with GEAR GROW, while also utilizing GEAR CAPITAL to finance and encourage startups working on the next big technological inventions in green energy and renewables. ”
“Using the group’s background in traditional finance, we’re aiming to bridge the difference between conventional capital markets and present crypto investors to make an investment opportunity that is appealing to both. ”
King states that “that is simply not renewable ” and “the pace of innovations and investment in green energy and renewables is just not enough to help counteract the use of dirty fuels. ”
Our opinion is that additional regulation is needed in the space to cultivate an environment for valid offerings and deliver more confidence to the space.
At an message on GEAR Token’s website, iconic political talk show host Larry King says that global climate change is threatening humanity’s existence and can be “a possibly catastrophic issue from the combustion of fossil fuels… putting immense pressure on the environment and on our health. ”
Changing ICO Regulatory Landscape
The GEAR team advised Bitcoin Magazine:
GEAR has been incubated by Canadian retailer banking group Forbes & Manhattan, based by Stan Bharti who also serves as one of GEAR’s advisors and is also a speaker at the forthcoming Futurist conference.
Pathak advised Bitcoin Magazine:
“we would like to emphasize the increasing importance of investing in green jobs and startups, provided the changing political landscape contrary to efforts to stop further global warming, such as the U.S. pulling out of this Paris climate accords. ”
“Using Larry’s global recognizability spanning generations, he’s helping us to earn blockchain and crypto more accessible and more approachable to individuals who are still unsure of and new into the space. Larry has also interviewed everyone from presidents to company leaders into key influencers, therefore has the capability to start up a lot of doors to propagate the message GEAR and our favorable social effects. ”
Despite present regulatory uncertainty, GEAR Token is working closely together with U.S. and Canadian regulators to “be compliant as you can, while also attempting to fortify more regulation at the space by discussing our personal insights together with regulators,” said Pathak.
GEAR expects to be a bridge to traditional investors involving traditional investment tools and the new world of ICOs and tokens.
GEAR Blockchain Inc. has filed a Notice of Exempt Offering of Securities with all the U.S. Securities and Exchange Commission for the sale of both GEAR tokens both indoors and outside of the U.S. under the Securities Act of 1933, also within Canada as a supplementary supplying together with the Ontario Securities Commission.
Pathak describes:
Crypto Energy Use Is Growing
“It involves being compliant with markets throughout items including SEC filings, also creating crypto more readable and available to traditional investors through items they’re more familiar with, such as traditional PPMs and memorandums. ”
Linking Traditional Investment Plans Having ICOs and Tokens
“Our launch and aim at Futurist will be to raise awareness for both the demand for a change in current mining methods,” said Pathak, “and also the significance of creating an environment which helps incubate greener blockchain technologies and cryptocurrencies. ”
Their next stop includes a market launch at the Blockchain Futurist Conference at Toronto, Canada, in which King will be moderating a panel on Wednesday, August 15 entitled”Mass Impact and Adoption of Blockchain Technology,” including Charles Hoskinson (CEO, IOHK), Justin Wu (adviser, GEAR Blockchain), Al Burgio (Founder, DigitalBits.io), and Michael Moyal (Co-founder, Slate).
GEAR needs a certain regulatory environment to provide stability to ICOs, said Pathak.
As mentioned at a current mining convention, the pressure on cryptocurrencies is increasing as the sheer quantity of electricity that has to be used to resolve increasingly challenging equations gains.
The GEAR team returned from a roadshow across Asia, after meeting with some of the largest suppliers of mining equipment.