Can Blockchain Help Solve Climate Change? Ripple Thinks So

Ripple is a market leader in the crypto and blockchain industry. It has already announced its $100 million donations to the carbon market. The funds will help accelerate carbon removal and update carbon markets. It will do this by investing in cutting-edge carbon removal companies and climate-focused fintech. Ripple will also create a database of long-term carbon credits based on science and nature. Some of these can assist the country in meeting its goal of zero net emissions by 2030. Furthermore, the funds will develop new tools and features that will allow carbon credits to be tokenized as core Non-Futurable Tokens (NFTs) on the XRP Ledger (XRPL). This will contribute to meeting the global climate goal of limiting global warming to 1.5 degrees Celsius. Carbon markets are unable to meet rising demand. This is due to supply bottlenecks, slow time to market, and a lack of high-quality, authentic, and dependable products. Carbon markets must have better ways to check projects and certification and more transparent data about the market and prices. They should also have better infrastructure for buyers and sellers to meet global climate goals. Cryptocurrency and blockchain have built-in features like transparency, authenticity, and scalability. As a result, they could help resolve some of the most pressing issues impeding growth and efficiency. Ripple On Track To Go Carbon Neutral By 2028 In 2020, Ripple announced its intention ...