Supporting Environmentally Friendly Blockchain Hedera, This Company Purchases 490,622 HBAR, Now Has 1.5 Million Coins

HBAR coins from Hedera Hashgraph. (Photo; Doc. CoinCulture)

JAKARTA - Tech company NoviqTech recently announced the acquisition of Hedera's 490,622 HBAR coins, worth 150,000 US dollars (approximately IDR 2.37 billion), bringing their total HBAR coin holdings to more than 1.5 million. This effort further strengthens NoviqTech with Hedera's blockchain technology, which is known to be efficient and environmentally friendly, reported by Business Insider.

Freddy El Turk, CEO of NoviqTech, stated that partnerships with Hedera are an important part of the company's blockchain strategy, especially in developing the Carbon Central platform. The platform is designed to assist companies in monitoring and managing their carbon emissions in a more efficient and transparent manner.

"Our investment in Hedera is strong evidence of our belief in the potential of this technology in supporting our mission at Carbon Central," El Turk said, quoted by SmallCaps.

Hedera itself uses Hashgraph technology which is known to be more environmentally friendly than traditional blockchains. With the ability to process up to 10,000 transactions per second and minimal energy consumption, this technology is the right choice for various applications, from satellite payment systems to safe space traffic management.

Through Carbon Central, NoviqTech offers a software-based solution as a service (SaaS) that makes it easier for companies to manage carbon emissions and obtain a Assurance Certificate for green fuel. The transparency and tracking features on this platform provide additional advantages for companies that wish to comply with stricter ESG (Environmental, Social, and Governance) regulations.

El Turk added that NoviqTech plans to continue to increase its investment in HBAR going forward, hoping to further explore the Hedera ecosystem that continues to grow. This decision demonstrates the company's determination to contribute to global sustainability through more efficient and responsible blockchain technology innovations.

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