The Proof-of-Work algorithm that underlies Bitcoin, Ethereum w , 1 and many other cryptocurrencies is well known for its energy-intensive requirements. The Proof-of-Stake algorithm that underlies Ethereum and various other cryptocurrencies is less impactful environmentally, but it has a second, looming issue: the problem of wealth inequality. We have developed an alternative to Proof-of-Work and Proof-of-Stake, called Proof-by-Location, that has the potential to address both of these issues. This article describes Proof-by-Location and a financial platform called Xylem that is based on it. This platform seeks to distribute transaction fees to billions of cryptocurrency “Notaries” around the world (essentially, anyone with a smartphone), who work together to establish a distributed consensus about financial transactions. In this article, we demonstrate that this platform can scale to more than 3.9 trillion transactions per year (more than triple the number of digital payments per year currently occurring). We show a reduction of electricity usage per transaction of 99.9999914% compared to Bitcoin, 99.999905% compared to Ethereum w , 99.83% compared to Ethereum, and 95.9% compared to the Visa financial services company. We demonstrate that this platform would have a redistributive rather than consolidatory effect on wealth compared to any of these platforms, leading to a source of income for more than 1 billion people around the world, including more than 110 million in the bottom 10th to 20th percentile by income, with income for that group equivalent to 8.8 million full-time jobs. Finally, this currency provides a positive, non-compulsory mechanism for shaping human habitation patterns in ways that can slow global biodiversity loss and enable ecological restoration. Using Xylem as a global financial infrastructure could lead to significantly better social and environmental outcomes than existing financial platforms. 2