{"id":440980,"date":"2022-05-03T04:31:30","date_gmt":"2022-05-03T01:31:30","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/rhode-island-proposes-crypto-rewards-for-green-home-builders\/"},"modified":"2022-05-03T04:31:30","modified_gmt":"2022-05-03T01:31:30","slug":"rhode-island-proposes-crypto-rewards-for-green-home-builders","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/rhode-island-proposes-crypto-rewards-for-green-home-builders\/","title":{"rendered":"# Rhode Island proposes crypto rewards for green home builders"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a33b09d93dd4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a33b09d93dd4\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/rhode-island-proposes-crypto-rewards-for-green-home-builders\/#%E2%80%9D_Rhode_Island_proposes_crypto_rewards_for_green_home_builders_%E2%80%9C\" >&#8221; Rhode Island proposes crypto rewards for green home builders &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Rhode_Island_proposes_crypto_rewards_for_green_home_builders_%E2%80%9C\"><\/span>&#8221; Rhode Island proposes crypto rewards for green home builders &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>A bill was proposed in Rhode Island\u2019s House of Representatives that would credit a house builder in a \u201cgreen coin\u201d cryptocurrency for reducing the project&#8217;s carbon footprint.<\/p>\n<p>The <em>Green Housing Public-Private Partnership <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/webserver.rilin.state.ri.us\/BillText\/BillText22\/HouseText22\/H8152.pdf?mc_cid=8a42ac527a\"><em>Act<\/em><\/a> would oblige the state\u2019s public utility commission to issue annual reports on the utility costs and carbon emissions of a housing project. If the project has been able to reduce its utility costs, the state will award a cryptocurrency credit to the property owner.<\/p>\n<blockquote><p>\u201cAny reduction 24 amount of utility costs attributable to any housing construction project pursuant to this chapter shall 25 be assigned a credit amount which credit shall be eligible for redemption in a byway of cryptocurrency in the form of a green coin.\u201d<\/p><\/blockquote>\n<p>Funds for the initiative would come from $500 million in donations from local private banks and $125 million from the state which would be known as the \u201cGreen Housing Fund.\u201d <\/p>\n<p>It is not clear what blockchain network the \u201cgreen coin\u201d would use, but it would likely be a less costly proof-of-stake (PoS) network favored by mainstream environmentalists these days.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/226b3793-f33b-4824-84f7-c0893681ff12.PNG\"><figcaption style=\"text-align: center;\">The Green Housing Public-Private Partnership Act in Rhode Island<\/figcaption><\/figure>\n<p>The bill is designed to tackle both the sudden spike in housing demand in the Ocean State and to further incentivize home builders to stay in compliance with environmental standards. The proposal states:\u00a0<\/p>\n<blockquote><p>\u201cIm<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te action to develop housing using green site standards is imperative to ensure 3 compliance with the goals established by the Act on Climate.\u201d<\/p><\/blockquote>\n<p>The newly proposed bill is meant to stimulate new housing developments in the state that suffers from a housing shortage exacerbated by increased prices year-on-year according to a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.providencejournal.com\/story\/news\/local\/2022\/01\/20\/housing-market-plagued-critical-shortage-homes-december\/6595483001\/\">report<\/a> from local <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> outlet The Providence Journal.<\/p>\n<p>Housing data tracker Redfin <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.redfin.com\/state\/Rhode-Island\/housing-market#supply\">confirms<\/a> that Rhode Island\u2019s housing supply has been on a steady decline over the past 5 years, with February 2022 marking a 5-year low.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Go green or go home? What the NY State mining moratorium could mean for crypto industry<\/em><\/strong><\/p>\n<p>While the Rhode Island legislature\u2019s plan to reward environmentally conscientious builders with crypto is fairly novel, crypto in the housing market is not a new idea. It is becoming increasingly common to take out crypto mortgages to help pay for houses.<\/p>\n<p>The USDC.homes program issued a loan to a new homeowner in Austin, Texas late last month denominated in USD Coin (USDC) on the Polygon (MATIC) network. The uncollateralized loan functions similarly to traditional loans, but the down payment, also made in crypto, is staked to earn the borrower interest which can be used to help pay down the principal.<\/p>\n<p>Bacon Protocol has been issuing nonfungible token (NFT) mortgages since last November and features interest rates far below the national average of 5.5%.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/rhode-island-proposes-crypto-rewards-for-green-home-builders\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Rhode Island proposes crypto rewards for green home builders &#8220; A bill was proposed in Rhode Island\u2019s House of Representatives that would credit a house builder in a \u201cgreen coin\u201d cryptocurrency for reducing the project&#8217;s carbon footprint. The Green Housing Public-Private Partnership Act would oblige the state\u2019s public utility commission to issue annual reports&#8230;<\/p>\n","protected":false},"author":1,"featured_media":440981,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvNDdkNTUwZWItZTA1NS00ZWQ4LTlkNDgtYzFmODFkOTUzNTI3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74876,74355,10595,72692,70934],"class_list":["post-440980","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-proof-of-stake","tag-adoption","tag-environment","tag-legislation","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/440980","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=440980"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/440980\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/440981"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=440980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=440980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=440980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}