Why blockchain? Accelerating & funding climate solutions at scale with Celo
Celo has been invited to EarthDay.org to speak about their efforts in accelerating and funding climate solutions at scale through blockchain technology. Let's hear what they have to offer.
Celo, the carbon negative blockchain, is leading the way towards a more sustainable future by integrating environmentally responsible practices into its design and policies. Unlike other cryptocurrencies, Celo's Proof-of-Stake (POS) consensus algorithm requires only a small fraction of the energy usage of Proof-of-Work (POW) algorithms. The network could process up to 7 million transactions per ton of CO2 emitted by its infrastructure.
Celo began its carbon negative journey in 2020, aiming to become the first carbon neutral platform by contributing daily offsets through the network protocol. It has already offset 2,285 tons of carbon through its work with Project Wren, and expects to offset a further 4,696 tons in the near future. Celo's commitment to being environmentally friendly goes beyond being POS, and it is exploring options to extend its carbon negative status beyond the blockchain. Celo has been invited to EarthDay.org to speak about their efforts in accelerating and funding climate solutions at scale through blockchain technology
The blockchain is home to several projects focused on regenerative efforts. One such project is Loam, which incentivizes farmers to transition to regenerative agriculture, promoting healthy foods, clean water, air, and promoting soil health. Built on the Celo blockchain using deep ag technology, Loam is creating a global marketplace, tokenizing incentives for behavior change with Loam tokens that will enable farmland, timber, pastures and all of nature’s assets to offset carbon.
Another project is MOSS, which preserves the Amazon by tokenizing credits carbon from Amazon afforestation, reforestation, and preservation projects, and selling those tokens on the retail market. MOSS's mCO2 token not only allows people and companies to easily offset their greenhouse gas emissions but is also a powerful primitive for DeFi protocols to natively offset emissions.
Regen Network, a PoS blockchain focused on ecological data, assets, and agreements, provides a decentralized business solution that tracks and analyzes data about Earth’s ecology. Regen Ledger is an independent blockchain in the Cosmos family, and the Celo Foundation and Regen Network Development have done a token swap, making it easier for ecological assets from Regen to be used as primitives on Celo.
Lastly, Wren makes it easy to calculate and offset your carbon footprint by funding projects that plant trees, protect rainforests, or otherwise counterbalance the emissions from your life. Since partnering with Celo, the protocol has offset over 2,219.5 tons of CO2.
Celo's commitment to a sustainable future is driving innovation in the blockchain industry, showing that environmentally responsible practices can be integrated into design and policies without sacrificing effectiveness. With initiatives like Loam, MOSS, Regen Network, and Wren, Celo is leading the way towards a more sustainable future, proving that blockchain technology can have a positive impact on the environment.
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