Researchers recently reported that Bitcoin mining has a shocking energy consumption level that is comparable to a medium-sized country. Blockchain is the most booming technology of our time, with implementation across various industries such as health care, supply chain management, games and entertainment, and so on. Blockchain is a boon to the industry but if it is not used sustainably, it can cause us great harm. While some blockchain companies have started buying carbon credits to reduce their carbon footprint, it does not solve the underlying problem. Phaeton has quite a unique approach to this problem. Australia-based company, Phaeton, is here to build a sustainable environment for our future generations. Phaeton is a one-of-a-kind company implementing blockchain technology powered by renewable energy. They have the great ideology of making the world better for all communities by using blockchain technologies. Phaeton is building Solar farms and wind turbines for powering their data centres. They also utilize geothermal energy for cooling and backup. Phaeton’s energy plant rollout is based upon the needs of the energy system in Western Australia, known as the Southwest Interconnected System (SWIS). The SWIS or “Grid” is a vast electricity system in the southwestern part of Australia covering an area of over 93,000 km with generation plants located in two main centres. As a result, the fringe of the grid suffers instabilit...
