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Capturing CO2 from the atmosphere is not a simple process, and some feel that doing it is essential to the survival of our world.
Elon Musk is one of those individuals, and he wanted to back up his statements with evidence, so he announced a reward of $100 million dollars for those who are successful in developing devices to absorb carbon dioxide from the atmosphere.
This unusual event, which will begin in April and offer participants four years to complete their objective as of today, has already revealed additional information to the public.
The problem is extremely difficult since the goal is not merely to capture CO2, but rather to develop a technology that is scalable, efficient, and safe for the environment.
What is the Objective of the Elon Musk Initiative?
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The goal of the project will be to develop devices that are capable of “capturing carbon dioxide directly from the atmosphere or the oceans and permanently enclosing it in a manner that is safe for the environment.”
Until recently, technologies that were capable of absorbing CO2 did so in ways that were unproductive and/or too expensive to implement.
A Canadian business named Carbon Engineering has succeeded in capturing CO2 from the environment in order to produce new forms of fuel and even an alcoholic beverage known as Air Vodka, according to TechCrunch.
Xprize will reward a million dollars to each of the 15 contest finalists, with the first place winner receiving 50 million dollars, the second-place winner receiving 20 million dollars, and the third-place winner receiving 10 million dollars.
Additionally, 25 academic scholarships worth $ 250,000 will be awarded to students who are working toward this aim.
To demonstrate that these solutions are effective, they must all be capable of collecting one tonne of CO2 per day.
However, they must also be scalable systems that have been confirmed in their presentation and that can be utilized commercially on a large scale to demonstrate their effectiveness.
Why Elon Musk can be interested in GreenAir?
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GreenAir is a decentralized ecosystem that addresses two problems at the same time: the present high energy consumption associated with cryptocurrency and derivatives mining, as well as the negative impacts of climate change.
All of this is accomplished through the use of various solar-powered gadgets. Additionally, it will include other areas such as a pollutant exchange, tokenized carbon credits, and additional uses as they are developed.
What is the functioning of GreenAir devices?
The various devices are currently in the process of being developed. They will enable bitcoin mining, NFT mining, and a wide range of other applications, starting with a chip and an integrated solar panel and progressing from there.
The majority of the aluminum will be recycled. Metals such as aluminum are easily recycled, which helps to reduce CO2 emissions into the atmosphere while also maintaining the environment’s natural resources. Plastics shall be avoided to the greatest extent practicable.
What is the estimated cost of the devices?
Because products are still in development, they are unable to predict with precision what the final pricing will be.
The cost of current air-cleaning machines, which include the essential technologies, ranges between 200 and 700 euros. Because their gadget will have the Green Chip, the value will very certainly increase by a small amount.
In addition, the various gadgets may only be purchased using their $ GREEN token, which can be found here.
What is the process through which GreenAir will clean CO2?
There is currently no easy procedure that can be carried out, even though tests have been carried out, to convert CO2 + water into methane by 2021, and even if methane would be fuel, they would not be able to store it at that time.
By 2025, they intend to have developed and investigated viable alternatives. They have a chemical industry specialist on their team (which is in the process of expanding), and they are hopeful that a solution to this problem will be discovered in the next few years.
In any event, if they can mine using solar energy while also cleaning the air (which is currently achievable with present technology), they will have achieved success. As part of their effort, they are ensuring that the gadget does not require filters or spare components that might result in waste.
Is it possible to mine it without the fan?
The original plan was to create a solar panel with a mining chip, which was a simple concept.
As a result, a significant quantity of CO2 created by miners, who consume an enormous amount of energy due to the equipment engaged in the functioning of the network, in order to carry out the computations that authenticate the transactions, would no longer be released into the atmosphere.
If they are able to get the goods out without a fan, they will have achieved a 90 percent success rate. Nevertheless, if they can also clean the air, they will not only lower the carbon footprint, but they will also remove considerably more CO2 than can be created throughout the process.
What exactly are the advantages of the GREEN token?
Green will be a decentralized ecosystem that will address the existing issue of excessive energy consumption in the mining process of cryptocurrencies and derivatives, as well as other problems.
Other cryptocurrencies, NFTs, and a variety of other coins may be mined using its solar-powered devices, as can a variety of other coins using the chip embedded inside the device.
It is not possible to connect it to the electrical grid; instead, it will only be able to operate with its solar panel, which is the only method to ensure that it is entirely made of renewable energy.
Furthermore, with the surplus energy generated by the solar panel, the fans included in the gadgets will remove contaminants from the air. This is an added benefit.
The Green token will be utilized as a payment mechanism, and the devices will only be available for purchase using $ GREEN. It will also have numerous additional applications in the future, such as tokenized carbon credits and pollutant trading.
