ANZ’s stablecoin used to buy tokenized carbon credits

ANZ’s stablecoin A$DC has been used to buy Australian tokenized carbon credits, marking another critical test of the asset’s use cases in the local economy. In March, the “Big Four” bank became the first major Australian financial institution to mint its own stablecoin after overseeing a pilot transaction worth 30 million AUD ($20.76 million) between Victor Smorgon Group and digital asset manager Zerocap. ANZ’s stablecoin is fully collateralized by Australian dollars (AUD) held in the bank’s managed reserved account. So far, A$DC transactions have primarily been conducted over the Ethereum…

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Iota Foundation joins Dell to develop real-time carbon footprint tracking

Iota Foundation, a nonprofit distributed ledger technology ecosystem provider, has partnered with tech giant Dell Technologies to develop a data-driven solution for the real-time tracking of carbon footprints.  Dell’s edge solutions team announced the onboarding of Iota, climate change-focused technology company ClimateCHECK and BioE to develop a solution on top of Dell’s in-house Data Confidence Fabric (DCF) and Project Alvarium initiatives. We’ve partnered w/ @Iota, BioE, & @ClimateCHECK to develop real-time carbon footprint tracking through a #data confidence fabric! Hear how #ProjectAlvarium accurately tracks carbon footprints w/ #DellTech Edge solutions. https://t.co/u5CxmbMBAL@Intel…

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WeWork founder reinvents himself with $70M crypto carbon credit platform

Three years after being ousted as CEO of WeWork, Adam Neumann has jumped on the crypto bandwagon, raising $70 million in the first major funding round for his climate tech venture Flowcarbon. The project aims to make carbon trading more accessible by putting carbon credits on the blockchain. Neumann is an Israeli-American businessman and investor famous for his role in founding coworking space provider WeWork in 2010, a company once heralded as the future of work spaces. However, it all came crashing down in 2019 when the company attempted to…

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Could GameFi and carbon currencies reverse blockchain’s climate stigma?

Nonfungible tokens (NFT) and blockchain technology have developed an unfortunate stigma in some sections of the community for being bad for the environment — but could that perception be changed by integrating carbon offsets into NFT gaming? GameFi, or gaming finance, marry NFTs and gaming. Blockchain games account for nearly $12 million in daily volume from over a million gamers according to app tracker DappRadar. Toucan Protocol COO Rob Schmitt thinks that volume and those users could be harnessed to benefit the environment. Schmitt told Cointelegraph that using carbon offsets…

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Trust and clarity are missing in discussions of carbon emissions and crypto

The need for a clear, balanced concept of the issue was a constant theme at the panel discussion of crypto’s carbon footprint at the 2022 World Economic Forum. There was general agreement that there has been a rush to judgment on the consensus mechanisms of crypto mining and education, and careful policymaking can counteract it. “Crypto tribalism” on social media is an impediment to environmentally sound crypto mining, FTX.US president Brett Harrison said, comparing the situation to politics. “A vocal minority obscures the majority,” he said, while there is a…

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Go green or die? Bitcoin miners aim for carbon neutrality by mining near data centers

Bitcoin (BTC) mining has always been a controversial topic. But, Bitcoin’s proof-of-work (PoW) model has reached new levels of concern as senior decision-makers and investors pay closer attention to environmental, social and governance factors.  As such, many crypto miners are highlighting environmentally friendly practices by acquiring carbon offsets. Yet, some would argue that this isn’t enough to guarantee green Bitcoin mining. Other risk factors may also be involved with carbon credits. For instance, Kevin O’Leary — the Canadian entrepreneur better known as “Mr. Wonderful” for his role on Shark Tank…

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Green finance needs voluntary carbon markets that work

The United Nations Climate Change Conference, known as COP26, in Glasgow, Scotland catalyzed a commitment to carbon neutrality, achieving net-zero carbon emissions, requiring reducing emissions as much as possible, and balancing the remaining emissions with the purchase of carbon credits. A carbon credit reduces, avoids or removes carbon emissions in one place to compensate for unavoidable emissions somewhere else through certified green-energy projects. Carbon credits represent one ton in carbon emission reduction. They are 1) Avoidance or reduction projects — e.g., renewable energy (wind, solar, hydro, biogas) — and 2)…

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Algorand aims to convert network transaction fees into carbon offsets

Proof-of-stake blockchain protocol Algorand will implement a smart contract that will automate the offsetting of the network’s carbon emissions. In a recent announcement, Algorand revealed that a new smart contract would take a portion of each transaction fee within its blockchain network and automatically process it to purchase verified carbon credits at ClimateTrade, a blockchain-based carbon offset marketplace. According to Algorand Foundation CEO Staci Warden, the move will allow the network to scale while still being carbon negative. Warden told Cointelegraph that the smart contract will ensure that their blockchain…

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MetaMask institutional offering, Polygon to go carbon neutral, and more

The decentralized finance (DeFi) world saw another week of increased on-chain and developer activity while token prices entered the second week of the bear market, with many of the tokens bleeding in double digits over the past week. MetaMask expanded its institutional offering by partnering with four institutional custodians, while Polygon has pledged to go carbon neutral. We will also look at how users can bridge different tokens to the Polygon network and look into Reputation DAO, a project that collateralizes users’ private information for DeFi loans. MetaMask expands institutional…

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Polygon commits to going carbon neutral in 2022

The Polygon network announced on Tuesday its commitment to going carbon neutral and climate positive this year by releasing their “Green Manifesto: A Smart Contract with Planet Earth.” They also made a $20 million pledge to offset their carbon footprints, and buy extra credits to eventually become carbon negative. #PolygonGoesGreen Unveiling the Green Manifesto – a smart contract with Planet Earth!https://t.co/p9DFtUG9XP [1/2] pic.twitter.com/Xgn8jubffa — Polygon (@0xPolygon) April 12, 2022 Part of the Ethereum scaling solution’s plan for a more sustainable future includes providing resources for ecosystem partners who also want…

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