Microsoft uses blockchain technology to purchase soil carbon credits in Austr...
The tech giant purchased 43,338 tonnes worth of soil carbon credits that are representative of carbon sequestration at ranches in New South Wales. Microsoft has employed blockchain technology to purchase soil carbon credits in Australia. In combination with Regen Network — built on the Cosmos (ATOM) blockchain — the CarbonPlus Grassland credits were initially issued to two ranches in New South Wales.The carbon credits are used as a measure of soil sequestration, which is the process of capturing atmospheric carbon dioxide and storing it in soil. This is achieved through Regen Network’s....
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With the negative stigma surrounding the amount of energy cryptocurrency uses, it’s about time crypto projects step up and start to make a difference from inside the industry. One project that entirely focuses on helping crypto go green is IMPT – a blockchain-based carbon credit ecosystem. Putting Carbon Credits on the Blockchain IMPT’s mission is to positively impact the environment by connecting socially responsible brands with businesses and individuals seeking to reduce their carbon footprint. In addition, they intend to provide a straightforward method for users to....
Carbon markets turn CO2 emissions into a commodity or tradable asset by giving it a price. Blockchain and smart contracts will improve those markets. The United Nations Climate Change Conference, known as COP26, in Glasgow, Scotland catalyzed a commitment to carbon neutrality, achieving net-zero carbon emissions, requiring reducing emissions as much as possible, and balancing the remaining emissions with the purchase of carbon credits.A carbon credit reduces, avoids or removes carbon emissions in one place to compensate for unavoidable emissions somewhere else through certified....
Gemini has partnered with a nonprofit to purchase carbon permits from government-related cap-and-trade markets and erase them from circulation. Gemini, a major cryptocurrency exchange founded by Cameron and Tyler Winklevoss, is responding to Bitcoin’s (BTC) environmental issue by purchasing carbon credits. On Thursday, the company announced its long-term initiative to incorporate climate-conscious measures into its business, launching a collaboration with Climate Vault, a nonprofit founded at the University of Chicago.Through the initiative, Gemini plans to purchase carbon credits for....
Ripple, the crypto solutions company shall commit $100M for the goal of carbon removal by investing in climate oriented fintech companies. The blockchain-based payments network has aimed to facilitate the acceleration of carbon removal technology in order to bring about modernization of the carbon markets. Carbon markets will let companies and individuals trade carbon credits […]
The smart contract will automatically allocate part of the Algorand blockchain’s transaction fees to purchase carbon credits at the carbon offset marketplace ClimateTrade. Proof-of-stake blockchain protocol Algorand will implement a smart contract that will automate the offsetting of the network’s carbon emissions.In a recent announcement, Algorand revealed that a new smart contract would take a portion of each transaction fee within its blockchain network and automatically process it to purchase verified carbon credits at ClimateTrade, a blockchain-based carbon offset....