Blockchain
penomo taps peaq to build a sustainability-first network of tokenized batteries
peaq, the go-to blockchain for real-world applications, announces the expansion of its ecosystem as penomo joins in to build a network of tokenized batteries. penomo is a monetization platform for eco-friendly energy storage businesses, especially those which re-use or recycle electric vehicle (EV) batteries. With penomo, these batteries will run as a decentralized physical infrastructure network (DePIN) earning rewards for the borderless community of Web3 investors by pooling new revenue streams such as selling carbon credits to companies looking to go carbon-neutral.
Lithium-ion batteries are a crucial component of sustainable power grids, storing spare energy for times when no sun rays hit the solar panels and no breeze spins the wind generator turbines. They also power electric vehicles, increasingly popular due to their sustainability. However, lithium extraction comes at a major cost for the environment, and businesses working on various sustainable solutions, such as green energy storage or battery recycling, often struggle to set up sufficient income streams and access liquidity fast, making for a major hurdle to the push for an eco-friendlier energy paradigm.
penomo enables businesses that accumulate sustainable energy to monetize their batteries quickly and efficiently. With penomo, such businesses can tokenize their batteries, offering the global Web3 investor community a portion of their future revenues to raise funds and turn batteries into liquid assets. They can also sell carbon credits or carbon credit futures to companies on-chain, monetizing the positive impact they make on the environment. In total, this unlocks three prospective revenue streams that all offer access to global capital and fast liquidity.
penomo will leverage peaq and its core functions, including self-sovereign multi-chain peaq IDs and peaq pay, peer-to-peer machine payments, to set up the fractional ownership mechanism powering its DePIN. Businesses adding their batteries to the penomo DePIN will outfit the hardware with peaq IDs through penomo’s app, which will also leverage peaq to tokenize the batteries, automatically distribute the rewards between investors, and facilitate sales of carbon credits and, optionally, battery data.
At the current stage, penomo, which is an incubation of EoT Labs, the company developing peaq as an open-source layer-1 blockchain for real-world applications, already has 4 letters of intent with energy storage and recycling companies, including Evyon. It is also in talks on paid proof–of-concept and co-development with two major multinational enterprises and has been endorsed by at least 10 major companies, including prominent automakers and energy businesses. Jasvir Dhillon, penomo’s co-founder, is also the EoT labs lead for KI2L, a project led by Fraunhofer HHI, part of one of Europe’s largest research organizations; the project taps AI to make EV batteries more sustainable.
“It’s encouraging to see so much market pull for penomo’s solution,” says Jasvir Dhillon, penomo’s co-founder and CEO. “Multiple decision-makers from relevant companies are reaching out to us themselves, even though we’re yet to spend a dime on marketing. We are thrilled to be building a solution that embraces the regenerative finance ideas by merging sustainability with business innovation. As a layer-1 built for DePINs, peaq is the perfect home for a project like this, bringing handy pre-built functions and tailor-made economics to the table.”
“penomo is addressing a major pain point for businesses working to make energy storage more sustainable,” says Till Wendler, co-founder of peaq. “Its DePIN of tokenized batteries will enable the Web3 community to invest in sustainable projects and earn rewards from energy preservation, while also driving enterprise adoption of peaq.”
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
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Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
The post Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets appeared first on HIPTHER Alerts.
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