Financial Technology

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Tag: blockchain

FinTech 101: What is a Green Bank?

What Is a Green Bank?
You may have heard the term “Green Bank” and wondered what it meant. This short article will explain the term and concept behind it.

Green Banks in a Nutshell
A green bank is a bank that exists for the sole purpose of battling earth climate change by funding projects that may be able to decrease the global carbon emissions and increase the use of alternative and renewable fuels and energy. They tend to support infrastructure spending in wind, solar, and other renewable energy space.

Green Banks: Functional Model
Green banks are not climate charities. Their funding is expected to be paid back with a profit for the bank. Currently, they are supported by some states in the U.S. and also by private funding. Green Banks utilize philanthropic and public funds. They generally fund energy projects that beyond the research stage and “good to go”. The Coalition for Green Capital (CGC) is a nonprofit agency that is deeply involved in advocating for green banks’ continued development.

Where Did the Idea for Green Banks Originate?
The idea for green banks started in 2008 when two entrepreneurial-minded, Ken Berlin and Reed Hundt, came up with the concept as part of the Obama transition team’s plans for promoting cleaner energy changes in US society. A proposal to enact federally supported green banks was attached to the American Clean Energy and Security Act. The concept never made it as legislation at the federal level. Green bank supporters were not daunted. Consequently, green bank advocates persuaded some states to take up the cause.

Green Banks: Some Statics
Currently, there are at least ten states that have at least one green bank. In addition, they are in the early stages of catching on globally as well. They also exist in Australia, the United Kingdom, and Malaysia. Within the U.S., green banks have already been involved in the funneling of some $3 billion in funds for clean-energy projects.

Green Banks: Their Future Development
With the advent of the Biden presidency, green banks may again find a firmer footing at the federal level. Indeed, in December 2020, Mr. Biden proposed the idea of a national green bank. They appear sure to gain more traction internationally as the desire to dampen climate change takes hold.

Unusual Uses For Blockchain Technology Jacob Parker Bowles

Unusual Uses For Blockchain Technology

One block at a time, blockchain technology is revolutionizing the way the world sees commerce—as well as a slew of different sectors that one might not even imagine. In a world where many people across various industries are seeing the massive potential of this technology, here are some of the most interesting ways it’s being employed.


As the global geopolitical situation grows increasingly volatile by the day, many are working on ways to institute blockchain technology into the voting system. Providing a way to keep votes safe, experts believe that blockchain will play a significant role in the future of voting.

Worker Productivity

With many employees now distracted by a plethora of time-sucking devices and applications, blockchain technology designed to monitor their progress is now in the midst of being developed.

Digital Art

For those who are budding O’Keefes and Picassos, it might be time to turn to the blockchain in order to monetize some artwork. With a startup laying out its vision for “crypto collectibles,” it seems more and more likely that the next great artist may be discovered as a result of blockchain technology.

Selling Solar Power

A new startup in Brooklyn is allowing the owners of solar panels to profit from their excess energy by selling it to others who’d like to use it. With no power company in the middle, an app allows neighbors to compensate one another by being green.

Dental Records

As we all know, there is a multitude of very important uses for dental records. Because blockchain provides a secure method of distributing data, one token is taking on the dental industry with a vengeance, promising to allow healthcare professionals to relay important information to one another.


If you aren’t in the position to take a pet into your home, think about getting your hands on some CryptoKitties! Powered by the blockchain, this game even offers virtual pet owners the opportunity to breed cats. With prices shooting up to over $100,000 for just one cat, this craze doesn’t seem to be going away anytime soon.

Rewards Programs and Loyalty Points

For those who are sick of having to track their loyalty points with different companies, blockchain technology may offer a convenient and exciting way to keep everything in one place.

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