Blockchain is now on the front line against climate change
Blockchain technology is spurring more carbon credit trading while lowering costs for young investors to get involved, says Stefan Rust of Sonic Capital, in a special Forkast.News interview.
Stefan Rust, Forkast.News
November 17, 2020
Blockchain technology provides the “perfect answer” to some of the most pressing environmental issues faced by our planet today, but innovation in the open-source world may be moving too quickly for state-governed markets to keep up with, said Stefan Rust, the former CEO of Bitcoin.com.
“There’s the voluntary market and then there’s the governed market,” said Rust, now the CEO of Sonic Capital, in a video interview with Forkast.News. “The governed market is really going to struggle with keeping up the pace of this industry.”
Article 6 of the Paris Agreement — which enables nations around the world to trade emission reductions — has yet to be agreed upon as the Covid-19 outbreak led to the postponement of the 26th session of the Conference of the Parties (COP26) that was initially scheduled to take place in November 2020. The session has now been rescheduled to November 2021.
While the recent bilateral agreement between Peru and Switzerland to reduce greenhouse gas emissions may have kickstarted the international transfer of mitigation outcomes (ITMO) as detailed in Article 6, the private sector has been moving ahead on its own to lead voluntary efforts to reduce global carbon emissions.
Tech giant Microsoft plans to be carbon-negative by 2030, while rival Apple has also committed to reach 100% carbon neutrality for its supply chain and products by 2030.
In the cryptocurrency world, payment platform Ripple also recently pledged to be “carbon net-zero” by 2030.
“We believe there’s an enterprise element,” Rust said...
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