According to the statements made by the World Economic Forum, various altcoins are on the radar of non-governmental organizations to support solutions to climate change.
GBBC partnership for these altcoins was discussed at Davos
The Solana Foundation and blockchain platform Ripple are partnering with industry group Global Blockchain Business Council (GBBC) to accelerate the adoption of crypto-based solutions for climate change. The startup, dubbed Blockchain x Climate Leadership Network (BxC), aims to be “the largest collaborative meeting of climate action inventors, leaders and builders under one global umbrella,” according to the press release.
The launch of BxC was announced at GBBC’s meeting on the sidelines of the World Economic Forum’s 2023 annual meeting in Davos, Switzerland. Bringing together world leaders and top businesses in the Swiss Alps, the event attracted a slew of altcoin projects to last year’s meeting, just before a series of high-profile corporate crashes forced the industry to pick up the pieces. cryptocoin.com We have included the details in this article.
The altcoin projects of choice to support climate change mitigation efforts largely revolve around creating new economies that do not harm the environment. This year, crypto’s presence on the promenade outside the main forum hub is relatively quiet, and the market is making a concerted effort to highlight projects with real-world applications and social utility.
Which altcoin projects are in the foreground?
“I think the climate use case makes the most sense in terms of real-world benefit beyond speculative individual involvement,” Daniel Hwang, BxC strategic advisor, said in Davos. Working to build the infrastructure for the initiative, including carbon credit metrics that calculate the amount of reduced greenhouse gases produced by human actions, Hwang said his team has met every week for the past two and a half years, holding workshops and forums. The initiative seeks to come up with business cases for climate-crypto projects as well as collaboration principles and best practices for climate-related blockchain efforts across different sectors.
Efforts to use crypto to support climate change mitigation efforts largely revolve around creating new economies that do not harm the environment. The Solana Foundation and Ripple are co-founders, while the environment-focused layer 1 Blockchain Regen Network and association Climate Collective are supporting partners. GBBC and Eqo Networks, which specialize in building such climate-driven leadership networks, will lead the initiative.
BxC, formerly known as the Blockchain Infrastructure Carbon Offset Working Group (BICOWG), brought together representatives of major crypto and environmental organizations in Colombia in the fall of 2022. Some of the working groups formed at that meeting – working on carbon market records, standards and auditability, policy development, renewable finance and emerging markets in the global south – are still active today and will form the basis of BxC.
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