Here are the facts about blockchain and climate change.
The Climate Chain Coalition , a network of organizations dedicated to leveraging blockchain technology for effective climate action that includes Cointelegraph as a member, delivered its stock take report on Nov. 11 at the 27th United Nations Climate Change Conference, or COP 27, in Sharm El-Sheikh,Founded five years ago, the coalition has been working on initiatives related to the consumption accounting system and greenhouse gas emissions accounting.
“During those years, the coalition has grown from 12 founding organizations to over 360 organizations in 69 countries. The coalition was founded on the ethos of blockchain and emerging technologies as an open distributed network where members self-organize into member-driven initiatives.
Also participating in the panel, Alexey Shadrin, co-founder and CEO of Evercity — a platform for the management, issuance and monitoring of sustainable finance — highlighted how the coalition’s efforts are supporting organizations with use cases of implementing blockchain technology, as well as guidance to the new projects that are rapidly emerging right now in the markets.
Even though digital assets have been criticized for their high energy consumption, such an accusation is inaccurate, as there is a distinction between cryptocurrencies and the underlying blockchain platforms that can energy efficient and support climate initiatives.
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