The LBX Token is the Environmentally Positive Cryptocurrency aimed to incentivize environmental cleanup
Submitted by Land Betterment Corporation
FISHERS, Ind., September 30, 2021 /CSRwire/ - Land Betterment Corporation (“Land Betterment” or the “Company”), an environmental solutions company fostering positive impact through upcycling former coal mining and industrial sites to create sustainable community development and job creation, is innovating environmentalism with its Land Betterment Exchange (LBX) Crypto Token.
The LBX Token is an ERC-20 token written off the Ethereum framework that flips the narrative on how to incentivize the cleanup of abandon environmental liabilities. This is the first cryptocurrency to channel investment funds into land reclamation and harness these investment dollars providing positive economic incentives. Prior to the LBX Crypto Token, the system and only solution was a negative-based model which fines or penalizes companies to try to force them to clean up the environment. One of the inefficiencies of this model is that many of the penalized companies are distressed or even bankrupt as our energy mix transitions away from fossil fuel. Companies therefore have historically done the bare minimum of environmental remediation. Additionally, with a high number of bankruptcies, there is a massive funding gap to actually repair the scarred land left behind from fossil fuel mining or drilling operations. With over $15 billion of estimated fossil fuel-related environmental liabilities outstanding, it’s clear and apparent that the current model has not worked and can no longer be relied upon to fix this growing problem.
Mark Jensen, Executive Chairman of Land Betterment Corporation commented, “LBX Tokens focus on not only delivering environmental progress, but also developing auditable, verifiable, and agreed-upon procedures to facilitate monitoring and accounting for land reclamation work being completed to remedy the harmful environmental impacts of the fossil fuel industry. By reversing the current system, based on fines and penalties, which clearly has not worked, the LBX Token program is the first-ever program that truly incentivizes the environmental cleanup of impacted lands from the fossil fuel industry through an innovative, non-fiat, free market approach, while also accelerating a smoother transition away from fossil fuels.”
How it works
Instead of a negative incentive model, LBX utilizes a positive-based incentive reward system for successfully completed environmental reclamation of impacted lands. Essentially, as the environmental work is finalized, LBX Tokens are earned and issued to the party that does the work, has applied for such tokens and has been approved at a rate of one token per $250 of environmental cleanup completed. LBX Tokens will soon trade on well-established crypto exchanges, which will establish a market price for each token for value and monetization. In addition to incentivizing companies to actively remediate impacted lands, a fungible, transparent token will also incentivize third-party sponsors to participate and help fund additional cleanup of environmental liabilities.
Aside from normal cryptocurrency market demand dynamics, crypto investors can benefit from several unique attributes LBX Tokens offers, including:
Total issuance of LBX Tokens will be capped at 80 million tokens to control total dilution
LBX Tokens will create a transparent and secure market while placing a value on the environment
Increase interest, awareness and acceptance of cryptocurrencies with environmentalists
Establish a fundamentally driven cryptocurrency that is aligned with the environment
To learn more about LBX Tokens, visit https://lbxtoken.com/
About Land Betterment Corporation
Land Betterment Corporation, an Indiana Benefit Corporation and Pending B-Corp, is an environmental solutions company focused on fostering a positive impact through upcycling former coal mining sites to create sustainable community development and job creation. The Company utilizes a complete solution-based lifecycle program to restore and rehabilitate the environment and revitalize communities in need of change and opportunity. Land Betterment accomplishes this by identifying un-reclaimed, run-down and neglected coal mining sites, fixing the environment through reclamation and remediation, and then repurposing the land to support a sustainable business that serves the community. Land Betterment firmly believes that with real solutions it is possible for restoration of impacted areas to live side-by-side long term employment, while building sustainable and safe surroundings for communities and our planet. For more information visit landbetterment.com or connect with the Company on Facebook, Twitter, and LinkedIn.
Special Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company’s actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond Land Betterment Corporation’s control. The words “believes”, “may”, “will”, “should”, “would”, “could”, “continue”, “seeks”, “anticipates”, “plans”, “expects”, “intends”, “estimates”, or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.
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Land Betterment Corporation, an Indiana Benefit Corporation, is an environmental solutions company focused on fostering a positive impact through upcycling former coal mining sites to create sustainable community development and job creation. The Company utilizes a complete solution-based lifecycle program to restore and rehabilitate the environment and revitalize communities in need of change and opportunity. Land Betterment accomplishes this by identifying un-reclaimed, run-down and neglected coal mining sites, fixing the environment through reclamation and remediation, and then repurposing the land to support a sustainable business that serves the community. Land Betterment firmly believes that with real solutions it is possible for restoration of impacted areas to live side-by-side long term employment, while building sustainable and safe surroundings for communities and our planet.
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