Iraqi Deputy Prime Minister Muhammad Ali Tamim chaired the US-Iraq High Coordination Committee meeting together with US Secretary of State Antony Blinken. Tamim has made clear his goal of reducing Iraq's dependence on fossil fuels, reducing pollution and developing and using new technologies to capture a toxic oil industry byproduct called "flare gas."

This has led to speculation among some crypto communities that Iraq is planning to enter the Bitcoin mining industry. Iraq's Rumaila oil field is the world's largest producer of toxic flare gas and aims to end all gas flaring activities in the country by 2027.

Iraq faces a challenge of high scale. As the world's largest producer of flare gas pollution, converting all its pollutants into usable electricity requires an extraordinary effort. However, Iraq currently needs to balance its domestic energy needs with its foreign debt.

Another possible way to use the energy provided by captured flare gas could be in the field of carbon credits. In theory, Iraq could not only reduce its own carbon footprint by capturing flare gas, but also participate in the international market by selling carbon credits via blockchain. This provides immutable evidence of the country's efforts and provides a potential temporary revenue stream as it continues to reduce its dependence on fossil fuels. What are you thinking? We are waiting your comments.#blockchain#cryptocurrency #Iraq