Klaytn Foundation Drives the Transition Towards Decentralized Clean Energy with Blockchain Technology

SINGAPORE, June 5, 2023 /PRNewswire/ -- To mark the 51st World Environment Day, Klaytn Foundation, the non-profit entity established to globalize and decentralize the ecosystem of South Korea's leading Layer 1 blockchain Klaytn, signed an MOU with Crypto Workers DAO and Prometheus Space Power for a joint project to effectively respond to climate change and expedite the energy transition towards decentralized renewable power generation.

Working together with Crypto Workers DAO, which leads multiple ESG projects aimed at mitigating global warming issues and unemployment in underdeveloped countries, and Prometheus Space Power, a leader in energy metering and supply management technologies for consumer-centric green energy conversions in Europe, the three organizations will incorporate Klaytn's blockchain technology to create decentralized digital asset finance solutions for renewable energy production and supply.

This will help transform the energy industry, which is currently dominated by large central suppliers, into a new scheme in which small energy producers and end-consumers, such as local communities, cooperatives, decentralized autonomous organizations, or individuals, can participate in and benefit.

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"Klaytn Foundation has prepared this partnership to use Klaytn's blockchain technology to drive real change in the climate crisis and energy independence," Dr. Sam Seo, Representative Director of Klaytn Foundation, said. "This project will help Klaytn to diversify its digital asset portfolio through various ESG activities, including projects to tokenize the economic value of renewable energy produced around local communities or guilds in the future, while creating practical examples of how blockchain can be used to improve the quality of human life."
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About Klaytn

Developed by leading Korean IT company Kakao, Klaytn is a global Layer 1 public blockchain designed to power tomorrow's on-chain world. With the lowest transaction latency amongst leading blockchains, enterprise-grade reliability, and a developer-friendly environment, Klaytn provides a seamless experience for users and developers that is second to none. Since its launch in June 2019, Klaytn has been accelerating blockchain mass adoption through a broad array of use cases from DeFi to the metaverse, gaming, and even the Bank of Korea's CBDC pilot project. Today, it is one of the only globally competitive Web 3.0 ecosystems developed in South Korea, generating more than 1 billion transactions from over 300 decentralized applications.
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