Cryptocurrencies are digital currencies that can be used to finance the work and plans to end climate change. Investors from around the globe can participate in the fight against climate change by participating in the “Climatecoin” project. This funding was specifically earmarked to enable them to do so. Kimberly Rosales is an expert on cryptocurrency and explains how climate change can be financed using cryptocurrencies that are already in use.
These digital currencies are based on blockchain technology and allow everyone to help stop climate change. Companies around the globe must invent more efficient technology in order to reduce our environmental impacts and greenhouse gas emissions. This will allow us to tackle a problem on a global level in real-time.
Rosales explains that businesses who have to deal with the environment and responsibility will have access to a platform to invest in climate solutions works and projects. This platform allows for a greater commitment and, in addition to presenting direct, credible, and transparent solutions.
The first Climatecoin ICOs meetings took place at the end of 2017. These currencies will be placed in order to be exchangeable for Ether (one of the most important virtual currencies along with Bitcoin), and it will be attempted to have 255 million.
This phase is open to citizens, institutions, investment funds and companies. The system’s function will then select environmental projects that are likely to make a significant impact on the fight against climate change.
Projects that are based on sustainable mobility, given the high greenhouse gas emissions from transport, everything related to renewable energy (moving the future to a decarbonized transition), and issues related to electricity and agriculture tend to be the most successful.
First, companies that can be funded are those that focus on biofuel for planes, developing seeds that are more resilient to droughts caused by climate change and other technologies that reduce carbon dioxide in the atmosphere.
Climatecoin allows companies to trade so-called CO2 emission rights that were established under the Kyoto Protocol. It aims to make the technologies more accessible and to come to an agreement with United Nations regarding their sale and purchase.
Rosales assures that this initiative could increase social awareness because participants can get an economic return from individuals who negotiate with the cryptocurrency. The platform can share a portion of the profits obtained.
This system can help people increase their awareness of the effects of climate change and make a difference in stopping it. This global problem is a challenge that affects all of us.
The project recently took part in the UN Climate Summit (COP23), held in Bonn, Germany. The use of blockchain can be used to monitor all government programs and projects aimed at combating climate change. All can verify the compliance of companies with these projects.
It can also be said that technology makes it easier to invest in environmental initiatives that stop climate change and allows people to make small contributions.