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How Glo will have a low environmental impact

The solution to extreme poverty shouldn't involve hurting the planet. We're making sure Glo is not the energy-wasting kind of cryptocurrency.

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Key takeaways

Glo will be a 100% fiat-backed stablecoin, launching on Ethereum and Polygon

Ethereum recently completed a transition from a proof-of-work to a proof-of-stake consensus mechanism, which reduces 99.95% of its energy expenditures

Polygon has committed to going carbon negative

• This means buying and transacting Glo will not cost a lot of energy

Why this matters:

One of the most frequent objections to crypto projects is that they’re bad for the environment. We take this seriously and believe that global poverty and environmentalism are inextricably linked. We shouldn't solve one problem while making the other worse.

How Ethereum  and Polygon keep our environmental impact low

One network at a time:

• Ethereum changed dramatically when it moved to a proof-of-stake consensus mechanism. The Ethereum foundation estimates that this move will lower Ethereum's energy consumption by ~99.95%. (For a general overview, see these articles in Ars Technica and the New York Times.)

In June 2022, Polygon achieved lifetime carbon neutrality by partnering with KlimaDAO to retire $400,000 of carbon credits. (You can find a primer on retiring carbon credits here.) This is the first step on Polygon’s path towards being carbon negative.

What if Ethereum or Polygon don’t meet their goals?

If either Ethereum or Polygon dramatically changes course on energy consumption, we’ll scope the harms that Glo is generating and plan to compensate for them. This might include purchasing carbon offsets, donating to a conservation organization, or changing some aspect of Glo’s implementation.

Questions, thoughts, concerns?

We’d love to hear from you! You can reach out to us via email, follow us on Twitter, or join us on Discord.

This could be the info box

In this program, GiveDirectly identifies impoverished African villages to give their citizens $30 per month, transferred via mobile money technology, for 3-5 years. For people living on less than $2/day this is a transformational amount.
Glo's economic model is to invest its reserve in short-term Treasury bills and give the proceeds away entirely to GiveDirectly.

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Articles
How Glo will have a low environmental impact

How Glo will have a low environmental impact

The solution to extreme poverty shouldn't involve hurting the planet. We're making sure Glo is not the energy-wasting kind of cryptocurrency.

Everyone on this page is going to buy Glo at launch 👇

Key takeaways

Glo will be a 100% fiat-backed stablecoin, launching on Ethereum and Polygon

Ethereum recently completed a transition from a proof-of-work to a proof-of-stake consensus mechanism, which reduces 99.95% of its energy expenditures

Polygon has committed to going carbon negative

• This means buying and transacting Glo will not cost a lot of energy

Why this matters:

One of the most frequent objections to crypto projects is that they’re bad for the environment. We take this seriously and believe that global poverty and environmentalism are inextricably linked. We shouldn't solve one problem while making the other worse.

How Ethereum  and Polygon keep our environmental impact low

One network at a time:

• Ethereum changed dramatically when it moved to a proof-of-stake consensus mechanism. The Ethereum foundation estimates that this move will lower Ethereum's energy consumption by ~99.95%. (For a general overview, see these articles in Ars Technica and the New York Times.)

In June 2022, Polygon achieved lifetime carbon neutrality by partnering with KlimaDAO to retire $400,000 of carbon credits. (You can find a primer on retiring carbon credits here.) This is the first step on Polygon’s path towards being carbon negative.

What if Ethereum or Polygon don’t meet their goals?

If either Ethereum or Polygon dramatically changes course on energy consumption, we’ll scope the harms that Glo is generating and plan to compensate for them. This might include purchasing carbon offsets, donating to a conservation organization, or changing some aspect of Glo’s implementation.

Questions, thoughts, concerns?

We’d love to hear from you! You can reach out to us via email, follow us on Twitter, or join us on Discord.

Alexander Drummond
Director of Partnerships
Deborah Lightfoot
Head of Finance & Reserves
Lisa LoGerfo
General Counsel
Marcia Blacken
Head of Operations
Garm Lucassen
Co-founder & CTO
Jeffrey Milewski
Co-founder & CEO
Jasper Driessens
Co-founder & Head of marketing
Bram Voets
Growth
Alexander Drummond
Director of Partnerships
Deborah Lightfoot
Head of Finance & Reserves
Lisa LoGerfo
General Counsel
Marcia Blacken
Head of Operations
Garm Lucassen
Co-founder & CTO
Jeffrey Milewski
Co-founder & CEO
Jasper Driessens
Co-founder & Head of marketing
Bram Voets
Growth

Worldwide   •   Full remote

Worldwide   •   Full remote

Worldwide   •   Full remote
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