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NEW YORK, Nov 8, 2022 - (ACN Newswire) - The on-chain tokenized green bonds issued by Prontoblock will be one of the first such offerings in the United States. Moody's forecasts that the issuance of green bonds could total $1 trillion in 2022.
New York, November 8, 2022 -- Prontoblock, an innovative blockchain and Web3 company, will partner with EPIC ESG to utilize smart contracts in the form of Non-fungible Tokens (NFTs), and introduce utility tokens to support the structure of on-chain green bonds for large-scale projects. Prontoblock will issue approximately $300 million in notional value in the form of on-chain green bonds to support EPIC ESG's take out needs for the company's clean energy projects.
According to a 2022 report by McKinsey, capital spending on physical assets for energy and land-use systems required to decarbonize the global economy and to achieve net-zero emissions by 2050 are estimated to be $9.2 trillion annually, and $275 trillion in total.
EPIC ESG's clean energy, carbon sequestration and disruptive agricultural solutions address pressing green energy challenges within the United States. To fund and manage these solutions, Prontoblock will launch a Decentralized Autonomous Organization (DAO), an emerging corporate model that democratizes and automates governance utilizing logic embedded within smart contracts, to secure financing, streamline operations and improve reporting.
Powered by Prontoblock's platform, this partnership will generate highly secure tokenized green bonds to open up market access for a broad spectrum of investors with increased efficiencies, and fractionalized ownership. This will help increase liquidity and decrease the cost of capital for all participants.
By issuing NFTs on a distributed ledger, the ownership rights of these green bonds will be easily traded on multiple centralized and decentralized crypto exchanges globally - delivering new and superior functionality with digital assets over traditional ones.
"We are very excited to be working with Prontoblock, given their capital markets and blockchain expertise, to advance our ESG initiatives," says Kyle Barnett, CSO of EPIC ESG. "This partnership will democratize retail access to bonds and accelerate the rollout of critically needed clean energy projects."
"The opportunity for Prontoblock to support worthy projects in the ESG space is a deserving use case for our technology," says John Murphy, Co-founder and Chairman of Prontoblock. "The DAO and green bonds issued by our platform will significantly increase access to food supply, uninterrupted clean energy and the offsetting of carbon emissions. As the need for capital for climate-related investments in the coming decades will be immense, supporting EPIC ESG's endeavors is a moral imperative for Prontoblock."
About Prontoblock
Prontoblock provides innovative solutions to financial intermediaries and everyday investors. Our products open up both traditional and digital asset markets and streamline investment instrument operations using DeFi protocols. The Prontoblock platform enables clients to issue tokenized assets, and provides seamless and user-friendly on-ramps and off-ramps to web3 architecture. It powers a smart-contract solution that fully automates due diligence, establishes reliable records of current stakeholders and compliance, and significantly improves efficiency by reducing administrative friction. For more information, visit www.prontoblock.com.
About EPIC ESG
EPIC ESG harnesses the collaborative power of visionary clean energy innovation, values-driven investment, and sustainable, socially responsible impact to create clean energy solutions that transform our health, our economies, our environment, our planet, and the future of our children, and our children's children - for good. For more information, visit https://epicesg.com.
Media Contact:
Alex Gault
Prontoblock
alex@prontoblock.com
415-830-6739
www.prontoblock.com
Topic: Press release summary
Source: Prontoblock / EPIC ESG
Sectors: Alternative Energy, Crypto, Exchange, Blockchain Technology, FinTech, NFTs
https://www.acnnewswire.com
From the Asia Corporate News Network
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