Ripple and Solana back crypto solutions to fight climate change
19 Jan 2023
Both Ripple and Solana are joining forces with others to speed up the use of crypto-based solutions for climate change.
The two blockchain giants are now part of the non-profit organisation, Blockchain x Climate Leadership Network (BxC), Crypto News Flash reports.
The launch of BxC was unveiled at a Global Blockchain Business Council (GBBC) event during the World Economic Forum in Davos, Switzerland.
Also part of the initiative are Eqo Networks, Global Blockchain Business Council and blockchain-climate collective BxCi.
Blockchain x Climate Leadership Network aims to be the “single largest common gathering of climate action innovators, leaders and builders under one global umbrella,” CoinDesk reports.
The organisation said it aims to use cryptocurrency to support climate change mitigation efforts and raise greater awareness of blockchain projects with social advantages and real-world applications.
“I think the climate use case makes the most sense in terms of real-world utility beyond, let’s say, speculative retail involvement,” said Daniel Hwang, strategic adviser to BxC.
BxC has been preparing for the launch since last year after it was conceived in Greenland by the Solana Foundation and Ripple. The founding members were joined by Regen Network and the association Climate Collective as supporting partners, CoinDesk reports.
The organisation is working on a supporting infrastructure ecosystem and, headed up by Hwang, is developing carbon credit measurements to help gauge the number of greenhouse gasses produced by human activity.
The initiative is focused on setting cooperation principles and best practices for climate-associated blockchain efforts in several sectors, along with business cases for climate-crypto projects.
Utilising crypto to tackle climate change predominantly involves creating new economies that are not harmful to the environment, Hwang added.
In 2021, the Solana Foundation announced that the proof-of-stake Solana blockchain had reached carbon neutrality, whilst, in 2020, Ripple pledged to go carbon neutral by 2030.
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