Some cryptocurrencies can be used as a special currency to finance all plans and efforts to end climate change. Participation in the Climatecoin project allows investors from all over the world to take part in fighting climate change. This funding was specifically intended to allow them to do this. Angelo Babb is an expert on cryptocurrency and explains how climate change can be financed using cryptocurrencies that are already in use.
These digital currencies, which are based on blockchain technology, allow anyone to stop climate change. To reduce greenhouse gas emissions and environmental impacts, companies around the world must develop more efficient technology. This will enable us to address a problem at a global level immediately.
Babb explained that businesses who deal with the environment or have responsibility for it will have access to a platform where they can invest in climate solutions projects and works. This platform allows for greater commitment and presents direct, credible, and transparent solutions.
At the end of 2017, the first Climatecoin ICOs meeting took place. These currencies will be used to exchange Ether, one of the most important virtual currencies alongside Bitcoin, and will be attempted at 255 million.
This phase is open to citizens, institutions, funds, and companies. The system will then select the most likely environmental projects to have a significant impact in the fight against climate change once it is completed.
Sustainable mobility projects are the best because of the high greenhouse gas emissions from transportation. They also include everything that is related to renewable energy (moving to a decarbonized future), issues related to electricity, and agriculture.
Companies that concentrate on biofuel for airplanes and developing seeds that are more resistant to droughts due to climate change are the first to be funded.
Climatecoin allows companies and individuals to trade CO2 emission rights that were created under the Kyoto Protocol. Its goal is to make these technologies more accessible and to reach an agreement with the United Nations about their sale and/or purchase.
Babb says, “This initiative can increase social awareness because participants are able to get an economic return from individuals that negotiate with cryptocurrency.” The profits can be shared by the platform.
This system can increase awareness and help to stop climate change. This global challenge is one that all of us must face.
This project participated in the UN Climate Summit (COP23) Bonn, Germany. It was explained that blockchain can be used to monitor all projects that implement government programs aimed at combating climate change. All parties can check that companies comply with these projects.
Technology makes it easier for people to contribute to environmental projects that combat climate change. As more people join, this contributes to a greater impact.