Next100 blockchain fund invests in Enrex startup

Friday, Dec 03, 2021 22:35

Next100 Blockchain - a fund of Nexttech group, has announced plans to invest up to US$500,000 into Enrex, an European startup developing a platform for buying, selling and exchanging emissions certificate on a global scale.

Enrex plans to minimise the negative impact of Blockchain technology on the environment and to achieve the "Go Green" trend in the context of the growing Crypto market worldwide, but faced with tightening monetary policy.

Around the world, the bitcoin sector is rapidly expanding, resulting in increased electricity consumption and associated environmental impact. Bitcoin alone consumes more electricity than the Netherlands, according to Cambridge University research.

Currently, these credits are traded on the OTC market where there is a lack of transparency in terms of legitimacy and origin. Therefore, Enrex is an European startup that seeks to develop a connection between the cryptocurrency market and the global environmental emissions market, which is worth tens of billions of dollars per year, by establishing a decentralised financial system that helps to facilitate the purchase, sale, and exchange of environmental-related certificates on a global scale.

Enrex collaborates with trustworthy partners such as I-REC Standard to help verify these credits and the origins of the credits transparency, making the transaction simple and secure.

Enrex users can use the $ENRX Token to directly offset CO2 emissions from crypto-related transactions and operate Blockchain systems (which require a lot of computational power and electricity) while also investing in the expanding eco-friendly market.

"Next100 Blockchain focuses on investing in startups using Blockchain technology to alleviate the pain of society with a long-term vision, high practical application, and a team of decent people. Following a thorough due diligence process by the AntLaunch platform of the ANTEX Decentralized Financial Ecosystem, I believe Enrex is a project capable of solving global problems with high sustainability and going to bring a lot of value to society, because the 'Go green' trend will be a significant and inevitable trend of the cryptocurrency market," said Shark Nguyen Hoa Binh, Chairman of NextTech Group.

"The long-term vision and experience of the Next100 Blockchain investment fund, as well as its enormous influence in the digital transformation market in Viet Nam and Southeast Asia. NextTech will assist the Enrex platform in reaching out to Southeast Asia, which has a limited knowledge of environmental issues and a newly formed market for purchasing and selling environmental emission certificates."

Vytautas Sabaliauskas, CEO of Startup Enrex, said: "We look forward to working together to supporting the goal of a green crypto business on a worldwide scale and making the Blockchain world a better and more applicable place." — VNS

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