The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
These days, it’s all up in the cloud — the data cloud, that is.
With big tech taking over, and companies like Apple Inc. (NASDAQ: AAPL), Amazon.com Inc. (NASDAQ: AMZN) and Microsoft Corp. (NASDAQ: MSFT) housing data centers around the globe, there are large amounts of data being exchanged on a day-to-day basis. In fact, it was recently estimated by Bloomberg that nearly 1% of the world’s electricity powers cloud computing.
These data centers 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. It’s no wonder that the United States and China recently announced their agreement at the 2021 United Nations Climate Change Conference to limit greenhouse gas emissions as rates continue to climb amid the frenzy.
However, it looks like the exponential growth of information may not end anytime soon. Cryptocurrency, for example, requires massive amounts of computing power to be mined. It’s also been reported that offsetting the impact of digital currency alone would require planting 300 million trees.
One company, Cudo Ventures, is attempting to combat this energy crisis with its global decentralized 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 new technologies and hardware.
As a provider of monetization applications around the world, Cudo Ventures claims there are billions of dollars of hardware that remain underused. The company strives to provide a peer-to-peer model similar to Uber Technologies Inc. (NYSE: UBER) or Airbnb Inc. (NASDAQ: ABNB) that puts the power with consumers.
Monetization 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 good cause? The Cudo Ventures platform is carbon neutral, harnessing this unused computing power to make money as well as a positive environmental impact. It essentially takes the additional electricity being used and balances it with carbon credits, putting money back into the environment.
Cudo Ventures believes that creating a cleaner, cheaper and more equitable world may be possible through the unused technology right in our own homes.
The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
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