Cudos, a company, for which Shadow Foundr will soon be collaborating on a funding round, believes that creating a cleaner, cheaper and more equitable world may be possible through the unused technology right in our own homes.
With big tech taking over, and companies like Apple, Amazon and Microsoft housing data centres around the globe, there are large amounts of data being exchanged on a day-to-day basis. In fact, Bloomberg recently estimated that nearly 1% of the world’s electricity powers cloud computing.
These data centres not only consume energy but can also emit greenhouse gases. In fact, the internet now has around the same carbon footprint as the airline industry.
Of more concern from an environmental perspective is the rise of cryptocurrencies, which require massive amounts of computing power to be mined. It has been reported that offsetting the impact of digital currency alone would require planting 300 million trees.
Cudos is attempting to combat this energy crisis with its global decentralised cloud computing platform, which is changing the way people view the power of their computers. The company develops software that allows its users to have access to innovative technologies and hardware.
As a provider of monetisation applications around the world, Cudos claims there are billions of dollars of hardware that remain underused.
The company strives to provide a peer-to-peer model similar to Uber or Airbnb that puts the power with consumers.
Monetisation applications are a way to make money from typically idle hardware, which reduces the cost of cloud computing.
For consumers, this can mean more revenue streams without compromising the health of the environment through blockchain computing services.
How can people use their computers to create more revenue or donate to a worthy cause? Cudos’ platform is carbon neutral, harnessing this unused computing power to make money as well as a create a positive environmental impact.
It essentially takes the additional electricity being used and balances it with carbon credits, to put money back into the environment.
Stay posted to our emails and our platform, as we will soon release full details of a webinar with the founder of Cudo Venture, Matt Hawkins.
This is a hugely interesting space, which we are certain will pique your interest.