Have you ever watched the movie
Varsity Blues!? Well if not there is a scene I like to quote all the time…stick
to the basics my friends. What does that mean in football as well as crypto?? Stick to
the basic fundamentals. And that is what we are doing today…some deep dive FA, fundamental
analysis. So are you ready for our Oppty Oop? Well you don’t really have a
choice…because it’s time for Chico Crypto!! So fundamentally…what should be
the goal of a crypto investor!? Well in my opinion finding the projects who
have a fundamental reason to stick around….aka longevity. The ones that aren’t
going to disappear in a cycle. Bitcoin & Ethereum aren’t going anywhere, and
there are many altcoins who fit this bill too.
And there is a certain altcoin…one of my favorites who has fundamentals on lock. They have a
growing use case, they have BIG partnerships, and they are using the tech which will
allow it to scale far into the future. And they were just mentioned by name in a
very important press release, from the world’s largest asset manager, with 10 trillion
dollars in assets under their management. Blackrock posted this blog “BlackRock
bitcoin private trust” and it says “BlackRock is committed to providing clients with
access to their choice of investment opportunities and has launched a spot bitcoin private trust. The
trust is available to U.S. institutional clients and seeks to track the performance of bitcoin,
less expenses and liabilities of the trust” Now this is important because it’s a spot
bitcoin trust…not a paper futures trust. This means there will be real bitcoin, bought
on the spot market, inside of this trust.
But the blog shedded more light
into how this trust will work. Blackrock says “BlackRock is encouraged that
organizations such as RMI and Energy Web are developing programs to bring greater transparency
to sustainable energy usage in bitcoin mining, and will follow progress
around those initiatives.” And as you can see they hyperlink to a certain
program in the post. Clicking into that we can see it takes us to a medium post from
Energy Web titled “Climate-safe crypto: Energy Web and RMI unveil decarbonization approach
for electricity-intensive industries” and the blog states “Energy Web, and RMI have released a draft
approach to evaluating the material impact of market-based renewable energy purchases. The
approach is applicable to any sector and is currently being trialed with bitcoin miners as the
foundation for an eventual certification program that will credential renewably-powered
mining and hosting operations.” Further down it says “The process
of accreditation, data verification, and issuance of verifiable credentials
for cryptocurrency will be conducted using an implementation of Energy Web’s
open-source Green Proofs solution.” Green Proofs? Well everyone
should know, Blackrock has gone full throttle into sustainable ESG
investing.
This is apparent on their website as it states “Sustainability
is BlackRock’s standard for investing” So it’s obvious to me, Blackrock will be
using Energy Web’s Green Proofs for BTC solution to decide which miners or entities they
will be purchasing the Bitcoin from for the Trust. Because if you go back to the blog
it says “With the announcement, RMI and Energy Web have launched a broad
stakeholder engagement consultation, with the goal of refining and improving the draft
approach following public comment and feedback” Blackrock is a stakeholder in this. Do you need
more proof? Well as you can see the blog from Energy Web was posted May 9th. Now look at
this tweet from Walter Kook of energy web on May 9th, in reply to the
launch of that blog post…he posted a rock…that went green,
and said “ProofOfGreen rocks”… Can you say hint much all the way back in May?? Now if we go back to Blackrock’s release on the
trust…there may be some more bready crumbs.
It says “BlackRock recently announced a
partnership with Coinbase that will provide common clients of Aladdin and Coinbase
access to the digital assets trading lifecycle through connectivity between Coinbase and
the Aladdin platform, starting with bitcoin.” Could this be a hint of a connection between
Blackrock, Energy Web & Coinbase? These were the only 3 entities mentioned in the press
release…Energy Web Coinbase listing imminent!? So do you think I’m just gonna stop at this? No Chico Crypto has way more
fundamental alpha to drop on you all… Have you ever heard of the D-Rec Initiative?? Well going to their website…we can
see they are “Creating a new global mechanism for the certification of
distributed renewable energy (DRE). And below it says “We are designing, delivering
and demonstrating new ways to certify and value distributed renewable electricity attributes
through the creation of a new, internationally recognized market instrument called the D-REC
(Distributed Renewable Energy Certificate).” Now going to the about us, we can see…a company
called southpole is one of the two leaders of the project & below this, we can see Energy
Web is one of the implementation partners.
Now in October of last year…this D-REC system was
presented by South Pole….and at around 12 minutes into the presentation, they drop this slide which
shows how extensive the ecosystem of partners is…Microsoft, Google, Coca Cola, Heiniken, and many many more partners, including listing
Energy Web…but how involved is Energy Web? Well let me tell you….BIG TIME!! Later
in the presentation, they explain what the D-Rec does…let’s listen in. Now did you notice
anything in that slide? Well let’s just go back…as you can see D-REC is built
on the Energy Web Chain…. Although…this goes even further. Soutpole
tweeted back in October that the D-Rec initiative would be presented at COP26, the
United Nations 2021 Climate Change Conference, and look who was presenting
besides Southpole…Google was… But we already know Google has
been working with Energy Web for over a year now…who else
could be connected to EWT?? Well at the end of 2021, Paypal released this
document, their “2021 Global Impact Report”. On page 32 they have a section titled “Assessing
& Mitigating the Climate Impacts of Crypto” and in this section they say “.
We support efforts
to develop GHG emissions accounting guidance that is consistent with recognized and
widely adopted accounting frameworks and have used recent research from
Crypto Carbon Ratings Institute and South Pole to begin preliminary
estimating our own impact. And they include a hyperlink…which
takes you to a document from Southpole titled “accounting for Cryptocurrency
Climate Impacts” and it says under about this report “This report was
jointly developed by Crypto Carbon Ratings Institute (CCRI) and South
Pole, in consultation with PayPal.” Now if you search the document not by Energy Web, but by Crypto Climate Accord, we can
see this is referenced three times!! Who is the Crypto Climate Accord!? Well if you
don’t remember, the Crypto Climate Accords goal is to make crypto and its supply chains Green. Jointly created by Energy Web, RMI, and
the Alliance for Innovative Regulation.
It seems pretty obvious to me,
Paypal is likely to be joining the Crypto Climate Accord & will be using
solutions built on the Energy Web Chain…. Who does research like this on crypto
youtube!? Not many do like Chico…because we always…stick to the got damn basics.
Cheers viewers, I’ll see you next time!!.
