📲 Solar Oil Project 🔌 Abandoned Oil Wells Wealth 💲
Solar Oil is a new crypto powered program launched by Beyond Oil; a company that focuses on the rehabilitation of oil assets, and the transformation of the energy sector.
📲 Solar Oil Project 🔌 Abandoned Oil Wells Wealth 💲 https://autonomy.tribe.so/group/solar-oil-project
Solar Oil is a one-of-a-kind project that allows tokenized commodity production and a crypto exchange mechanism.
Firstly, the project was launched specially after crypto currency faced a ton of criticism for its energy use; and was labeled as harmful for the environment. According to Beyond Oil, the Solar Oil programs represents a gear shift for crypto and represents a step in the right direction for energy production.
Secondly, the project intends to help in lowering the emissions of upstream assets; also, reducing their overall environmental hazard, while allowing a crypto currency exchange method.
Thirdly, the program offers well rehabilitation and recycling; especially those that are no longer in use. Some of the benefits of the program are the reducing of costs in maintenance by 60%; also, great reduction of carbon intensity, in almost 90%; the elimination of new oil well drilling.
Moreover, the project uses a Blockchain network to distribute tokenized oil production; via ERC-20 token rewards to the users. According to the statement, it uses one of the latest oil extraction technologies, the “Air Lift Technology”; which also helps to eliminate soil pollutants.
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In addition, the project has a trillion-dollar potential; as in the Southern U.S. alone, over a 100,000 of low-volume oil wells are abandoned or underutilized. These assets can quickly become an ecological hazard and cost close to a Trillion Dollars in clean up across North America.
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