The World Economic Forum (WEF) recently released a white paper explaining how blockchain could provide the infrastructure needed to combat climate change “at speed and scale.”
According to the white paper, blockchain’s value to the climate action community can be broken down into four categories. First, blockchain has the ability to “strengthen trust and ambition” in climate negotiations. It can also increase market transparency and credibility and provide more funding for project developers. Finally, digitalization “democratizes” climate action, the WEF writes.
Brynly Llyr, director of blockchain and digital assets at the WEF Crypto Impact and Sustainability Accelerator (CISA), said it is important to consider and study emerging technologies as tools to help combat climate change. He said: "Global climate infrastructure, tools and coordination technologies can all help us keep up with the changing earth's ecosystem. This is where blockchain and shared infrastructure technology can play a role."
Earlier news, after criticizing the high energy consumption of cryptocurrencies, the World Economic Forum has recently begun to support certain aspects of the crypto market and mining, because it recognizes the economic and environmental benefits of Bitcoin mining. In a video recently released by WEF, the organization shared how crypto mining companies such as Crusoe Energy can help oil and gas companies reduce waste and emissions that affect the environment. (Cointelegraph)