Chicago, IL: Chicago-based blockchain technology service company EZ Blockchain is set to solve a global energy problem, revolutionize an industry, and heighten the success of cryptocurrency.
A global problem called gas flaring is one few are talking about. Natural gas is released as a byproduct of oil drilling, and in the Permian Oil and Gas Basin alone (in Texas and New Mexico), $1 Million of usable natural gas is burned—unused—every day.
North Dakota and drilling sites in Canada and around the world do the same, resulting in 141 billion cubic meters of natural gas flaring annually. The problem is that this flaring process is the only way to dispose of natural gas released during drilling without the needed infrastructure to transport it where it can be turned into consumable energy.
And that infrastructure, in broader terms meaning a gas pipe, would resolve the flaring problem and create an enormous source of revenue for local communities, not to mention provide cleaner, smarter energy.
In order to sell Associated Petroleum Gas (APG), things like a gas prep facility and compression stations also need to be built to transport natural gas by pipeline. Usually, this is only feasible in industrial production volumes. A whole oil field is covered to collect APG from multiple wells and then feed it into a hub where the required infrastructure enables selling it on the market.
The World Bank has pursued a leadership role in reducing flaring through their Global Gas Flaring Reduction Program (GGFR), helping developing countries move towards a more sustainable energy future.
But the GGFR has made little progress, with only a 5% decrease in 2017 in global flaring after more than five years of a discouraging increase. Asking for governments’ commitment to the cause and encouraging infrastructure development through lobbying is important, but it’s slow-moving. What these initiatives need is a shot of capital and greater innovation to rally behind.
EZ Blockchain has its eyes on improved energy sources, specifically renewable energy and using resources more intelligently. This crypto mining technology company sees the shortcomings of both the status quo of gas flaring and the programs in place to address it.
World leaders in gas generation, including GE and Caterpillar, have the technologies to turn natural gas into consumable energy that would cost consumers as little as three cents per KW. And that’s three cents for reliable energy that doesn’t produce C02. Natural gas can inject movement and innovation into the Permian Oil and Gas Basin, North Dakota, Canada and around the world—and change everything for the next generation.
The company is ready to roll out a plan to maximize capital generation and utilization of the natural gas released during oil drilling, introducing a more sustainable energy future for cryptocurrency mining, local consumers, and the world.
The company has developed mobile, pre-fabricated data centers from scratch that can be transported and deployed without a couple of hours. This technology will incentivize and follow the smartest energy sources. With the opportunity to produce more sustainable energy, more local income and reduce C02 and gas flaring, EZ Blockchain plans to use these data centers to become a part of the solution.