Blockchain’s environmental impact and how it can be used for carbon removal
Blockchain technology is on its way to being considered by organizations as a way to reduce carbon emissions and improve the environment. Climate change has become an important issue over the years due to concerns over environmental changes caused by the emission of greenhouse gasses into the atmosphere. Conversations have even reached the crypto space, and blockchain technology is being considered a potential tool to reduce carbon emissions.Cryptocurrencies like Bitcoin (BTC) and Ether (ETH) that use the proof-of-work (PoW) mining algorithm have come under scrutiny due to their alleged....
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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 Carbon Removal cause will fund community-focused projects that are helping fight climate change and reduce the global carbon footprint. EarthFund launches the Carbon Removal DAO, led by Dr Lucy Tweed. The fund aims to fund community-led projects focused on fighting climate change. The community will receive the CarbonCommons tokens to vote on their favourite […]
Crypto exchange BitMEX has followed through on its earlier commitment to carbon neutrality. On Tuesday, the exchange announced its plans to offset the environmental footprint of its Bitcoin transactions. It also announced research plans as well as partnerships with organizations dedicated to using innovation to lower cryptocurrency’s environmental impact. Related Reading | Tesla Halts Bitcoin Payments Over Environmental […]
Ripple has contributed the majority of a $44 million fund to support solar energy projects across the United States. Blockchain payments firm Ripple has announced a $44 million environmental, social and governance (ESG) joint venture partnership with fintech provider Nelnet Renewable Energy to fund the adoption of environmentally-conscious solar energy initiatives across the United States. According to the announcement, the new fund is expected to offset over 1.5 million tons of carbon dioxide over 35 years, equivalent to 180,635 homes energy usage for one annum. In March 2021, Nelnet Inc.....
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....