Blockchain's Role in Tackling Climate Change: Transparency and Carbon Offsets

Discover how blockchain technology is changing the narrative on blockchain's impact on the environment. Learn about the benefits of blockchain-based systems for carbon offsets and various ways projects can offset their carbon footprint.

Posted 7 months ago in Blockchain

An image showing a blockchain and a green leaf, symbolizing the use of blockchain technology in offsetting carbon emissions.

Celo CEO Marek Olszewski said that blockchains can provide transparency and real-time verification on the state of carbon credits.

While moving to proof-of-stake (PoS) contributes to changing the narrative of blockchains being harmful to the environment, there are still many things that the Web3 ecosystem can do to tackle climate change. Olszewski mentioned some benefits of having an on-chain carbon offset system compared to traditional methods. He said that traditional carbon credit systems are plagued by a lack of transparency. With blockchain, there can be real-time transparency and verification that the carbon offsets are still valid. The executive also gave several examples of ways to offset carbon emissions, including planting trees, restoring habitat for species, direct air capture sequestration, and the use of biochar.

Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space. Magazine: Green consumers want supply chain transparency via blockchain

Last updated 9/14/2023, 8:56:27 AM


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