The world faces a lot of problems today. Naming them all would take a lot of time and space, but things like cancer, superbugs, climate change, limited access to clean water, limited access to reliable energy, and many other issues threaten societies and communities across the globe.
Despite the many challenges the world faces, there are a lot of people who are working on finding solutions and making the world a better place. Many individuals and organizations have taken it upon themselves to work on making the world a better place by recycling, riding bicycles, volunteering time, or even dedicating their lives or companies to finding cures or making advancements.
Thanks to technology, it has become even easier than ever before to bring about the changes that we need to see, and ImpactPPA is one of those companies that is utilizing the latest tech to make a difference in the world.
ImpactPPA is an Ethereum-based, decentralized energy platform that uses the power of blockchain technology to join capital and consumers and solve the problems that legacy financial institutions have created. Their goal is to bring clean, reliable energy to underserved and impoverished communities to help them improve their quality of life and fuel innovation.
Right now, one of the biggest challenges when it comes to providing communities all around the world with access to clean and reliable electricity is the financial institutions that govern to whom and how access to capital is provided. Through blockchain, though, the company plans to enable communities to get the access that they need, rise out of poverty, and move forward.
In their white paper, they explain: “Currently, both companies providing DEG [Distributed energy generation] products and those seeking to purchase such products come together by means of large, unwieldy external aid and funding agencies. Power Purchase Agreements (PPAs) for the developing world are negotiated through such NGOs as the World Bank, USAID’s PowerAfrica project, and the European Investment Bank, working through existing government-owned infrastructures.”
“Evaluation of projects by these bureaucratic clearing houses proceed slowly, and even when a project is approved and loans are secured, investors must be found before the project can be initiated. Years upon years may elapse before a single electric fan starts to whir in sub-Saharan Africa,” they continue.
They go on to cite examples of organizations including the Climate Investment Funds (CIF) and US Trade & Development Agency (USTDA), and projects that they worked on—some of which have taken over nine years, are still in progress, and aren’t expected to produce anything until at least 2020.
It’s obvious that there’s a need for change when it comes to energy, and ImpactPPA intends to solve it by harnessing the power and potential of cryptocurrency and blockchain technology. They expect to disrupt and reimagine energy project funding and help get clean, consumable energy to all parts of the world that need it.
To do that, they have been putting together a team to back and support them and help them both develop the company and achieve their long-term goals. And their most recent addition to their growing advisory board is a big player who could be one of their main keys to success. Just recently, the company announced that they have added Vinay Gupta to their still-growing board of advisors. Gupta brings with him diverse and impressive experience which makes him a key player on their team.
Gupta’s resume demonstrates his diverse and impressive skill set, which will undoubtedly help ImpactPPA in their mission. Having helped coordinate Ethereum’s release in 2015, and with a lot of other experience under his belt, Gupta is one of the top leaders in the cryptocurrency and blockchain industry. Not only that, but as the Founder of Hexayurt Guy Capital Partners, and experience with the refugee shelter company, Hexayurt, he has experience in and a passion for creating healthier and safer lives for humanity and the planet.
In the release announcing Vinay Gupta and ImpactPPA’s new relationship, president and CEO Dan Bates expressed his excitement about having Gupta join the team. He said that he had been watching Gupta’s work for several years and knew that his work in developing nations, as well as his expertise in blockchain, would have a huge impact on growth and help the company expand their reach.
There’s no doubt that Gupta’s expertise and past experience will benefit the team and help them drive their company forward, bringing clean electricity to developing communities, and making the world a better place. How do you think Vinay Gupta’s new relationship with ImpactPPA will affect the energy industry?