Formula E: how the Algorand Foundation is accelerating towards net-zero

In fact, in 2020, Formula E became the first and only sport in the world to be classified as net carbon zero since its inception, with its ethos based around three core sustainability pillars: delivering sustainable events, leaving a positive lasting impact on host cities, and raising global awareness on air pollution and electric vehicles.

Envision Racing has been working on its own sustainability innovation and pledges, too. In fact, Envision Racing was the only sporting team in the world to partner with the ground-breaking COP26 summit, with Managing Director and CTO Sylvain Filippi saying: “Sustainability is in our DNA, and we feel it is our role to use the exciting platform of Formula E and the ‘Race Against Climate Change’ sustainability programme to inspire generations to tackle this.”

Envision Racing’s Sustainable Chain initiative has also encouraged over 20,000 individuals to pledge their support for tackling climate change. And there’s no sign of Envision Racing’s commitment slowing down.

As of 2022, Envision Racing is one of a number of teams to have already pledged its support for the all-new Gen3 series of Formula E that will start later this year. Faster, more exciting and more efficient than ever before, Formula E’s Gen3 cars will allow for further innovations in sustainable motorsport, helping Formula E and all associated to push towards an even greener and more sustainable future.

How Algorand Foundation is leading high-performance sustainable blockchains

Like Formula E, Algorand has had a deep-rooted vision from its inception: sustainability. Founded in 2017 by Silvio Micali, Algorand is the greenest blockchain network in the world, offering a carbon-negative network with high-performance immediate finality, low transaction costs, 24/7 accessibility for ultimate convenience and total security. And what sets Algorand apart from the competition? None of this is sacrificed at the expense of our planet. 

Algorand was built with a very low energy footprint, all part of its mission to make the world a better place with high-performance blockchain technology. The Algorand Foundation is an arm of the company dedicated to sustainability, raising awareness of climate change, and striving towards net zero. As such, it’s the perfect partner for Envision Racing.

Algorand changes the game for blockchains with its optimisation for speed, security, and scale without the environmental impact of other blockchain networks. Like the innovative technology used in Formula E racing, Algorand’s own high-performance systems help push blockchaining and cryptocurrency towards a more sustainable future for our planet.

For example, a final transaction on Algorand equates to roughly 0.0000004 kg of CO2; in contrast, a Bitcoin transaction emits 338 tons of CO2 and requires more than 2000 kilowatt-hours of electricity. That’s enough to power the average household for 73 days.

Furthermore, a final transaction through Algorand takes just 4.5 seconds – that’s in contrast to other blockchain networks that can take up to one hour for a single transaction, helping to save you time and reduce the environmental impact on each and every transaction.

To celebrate the partnership with Envision Racing, the Algorand Foundation has created a series of NFTs to raise awareness for a greener planet where sustainability can drive innovation both on and off the track.

Eight limited-edition NFT helmets each represent one of eight different locations around the globe set to host a Formula E race, with all proceeds going towards planting mangrove trees in Madagascar for the Race Against Climate Change to create a greener earth.