Blockchain vs. Climate Change: Features WEF Unveils
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Blockchain vs. Climate Change: Features WEF Unveils

written by John Murphy | April 27, 2023

According to recent news, Brynly Llyr, a CISA executive, stated that it is important to research and consider emerging technologies for addressing Blockchain vs. Climate Change.

The world economic Forum issued the White Paper recently. This paper elaborates on how blockchain gave the needed support to fight against climate change at scale and speed.

Key Takeaways:

  • Blockchain supports climate action by enhancing transparency, credibility, and trust in climate negotiations and funneling funds to project developers.
  • Blockchain’s digitization capabilities democratize access to climate action.
  • Coordination technologies, global climate infrastructure, and tools, including blockchain, are crucial for keeping pace with the changing planetary ecosystem.
  • Constructive regulations support digital climate innovation, and industry leaders recognize blockchain’s potential.
  • A wide range of blockchain applications, beyond just the most prominent ones, can address climate change.

Moreover, blockchains’ values are split into four classes for the climate action community. Firstly, within climate negotiations, blockchains can strengthen ambition and trust.

It can also enhance credibility and transparency and funnel funds to the project developers. According to the WEF, the second is digitization “democratizes access” to climate action.

What Happened took to Twitter and made an announcement that the WEF white paper illustrates that when it comes to climate action, Blockchain improves the credibility and transparency of the market.

The digital assets and blockchain head at WEF’s Crypto Impact and Sustainability Accelerator (CISA), Brynly Llyr, made a statement. He said coordination technologies, Global climate infrastructure, and tools are very important in keeping pace with our changing planetary ecosystem.

At this moment, shared infrastructure and blockchain technologies are very helpful.

Blockchain vs. Climate Change
Source: pcmag

Furthermore, the White Paper highlighted that constructive regulations are necessary, and industry leaders accept them because of the blockchain’s potential. These regulations support responsive digital climate innovation.

Edgar Gerik took to Twitter and made an announcement that Brynly Llyr, the executive of CISA, stated it is important to appraise the research emerging technologies. These technologies help to address the change in climate.

The CEO of the Blockchain Climate Project Flow Carbon named, Dana Gibber, stated that it is very important to consider many blockchain applications. Additionally, he said not to consider the most prominent application. And this encloses what you can build on blockchain and over cryptocurrencies.

CryptoCheat took to Twitter and made an announcement that the World Economic Forum Whitepaper explains the role of blockchain technology in addressing climate change.

Meanwhile, in the U.S., Crypto exchanges tried to fight for digital assets for more regulatory clarity. The crypto firm filed a court action on 25 April.

This court action is to force the Securities and Exchange Commission to take action on its rulemaking petition. This petition has been pending since last July. The exchange also initiated non-fungible tokens (NFT). This launch calls for more sensible crypto policies.