As the builders of innovative blockchain infrastructure, the Sei Labs and Foundation teams understands the concerns around the sustainability of this technology and the importance of reducing the environmental impact.
That’s why they are going a step beyond other industry participants by ensuring the energy that is consumed by the chain is entirely sourced from renewable energy sources.
This makes Sei an operationally carbon neutral blockchain.
To do this, Sei Labs will leverage a first of its kind RWA primitive: Tokenised Renewable Energy Certificates issued by Jasmine.
Reducing the carbon footprint of a blockchain’s operations is about measuring and working to reduce all aspects of the chain’s operation that add carbon dioxide and associated emissions to the atmosphere.
Sei Labs will achieve this in the following ways:
- By operating with a “proof of stake” consensus mechanism, the Sei blockchain will consume 99.9% less energy than “proof of work” blockchains such as Bitcoin.
- By ensuring that the energy that Sei does use is taken from renewable sources, like solar and wind generated power, via Renewable Energy Certificates issued on the blockchain.
The first of these two ideas is not new - the vast majority of modern blockchains run on proof of stake consensus, which does not necessitate large “mining rig” facilities with vast rows and columns of energy consuming GPUs. On Sei, a single, high end home PC can fulfil the same role as one of these facilities does for Bitcoin.
The second idea is new, and leverages cutting edge RWA technology. Sei will run on renewable energy, by leveraging onchain renewable energy certificates issued by Jasmine Energy. This allows the Sei Foundation to publish its proof of renewable energy use directly to the blockchain.
The Sei Foundation is committing to issue a grant to finance the purchase and retirement of renewable energy credits (RECs); for each MWh of energy used by the Sei Blockchain, the grant will purchase and retire at least 1MWh of RECs.
These certificates will be “Green e-Certified” RECs, the highest standard of corporate grade RECs. Jasmine Energy’s tokenized RECs provide a fully traceable history of ownership from a specific energy generator to a specific energy consumer. The REC market enables companies and consumers to accelerate the green transition.
Jay Jog, Co-Founder of Sei Labs, commented on the initiative, “As longtime builders of blockchain technology we heard and understood the complaints about the impact of the energy used by POW consensus protocols. While we chose to build Sei as a POS chain, we’re proud to partner with a fellow innovator in Jasmine Energy to leverage their tokenized Renewable Energy Certificates to ensure the Sei Blockchain’s operations are effectively carbon neutral.”
Nathalie Capati, Jasmine Energy Co-Founder & CEO, commented on the initiative, "By setting a remarkable example of sustainability and efficiency in the blockchain industry, Sei is not only leading the way but also highlighting the immense potential for a greener, more responsible future in technology. We are proud to partner with Sei and look forward to their purchase of Renewable Energy Certificates on the Jasmine Energy platform."
Jasmine is a decentralized market for climate assets that makes it easy to claim, trade, and redeem renewable energy certificates. Jasmine Energy is on a mission to accelerate the net-zero transition by building climate asset markets that are accessible and transparent for everyone. Learn more about Jasmine Energy at www.jasmine.energy.
Jasmine’s always-on marketplace provides the highest degree of liquidity for Green-E RECs.
Jasmine’s REC market helps renewable energy project developers improve their liquidity and demonstrate good financial health, making it a worthwhile investment for lenders.
With Jasmine, Green generators can convert RECs into cash within seconds to cover debt and improve their business.
Sei is the fastest layer 1 blockchain. Supporting multiple execution environments, including the first parallelized Ethereum Virtual Machine, Sei is setting a new standard in blockchain performance and scalability. Apps on sei benefit from both the performance of web2 and the decentralization and sovereignty of web3. For more detailed information visit Sei's official website.