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Saving the Planet And Making a Profit: Carbon Credits Are the New Bitcoin

Press Releases Crypto News BeInCrypto Saving the Planet And Making a Profit: Carbon Credits Are the New Bitcoin

Web3’s underlying technologies are revolutionizing the future of sustainable energy markets through blockchain-powered peer-to-peer energy trading platforms and carbon-offsetting markets.

In pursuing sustainability, web3 technologies have paved the way for inventive solutions to bolster climate-focused ventures, renewable energy programs, and initiatives to capture and store carbon.

The recent decline of over 70% in the value of web3-related assets is indeed disconcerting. However, the focus should not be on their volatility. The fundamental technological advancements that have enabled web3 should be the highlight. These innovations are set to impact many sectors of the global economy and serve as a locomotive for reaching sustainability goals.

BE[IN]CRYPTO Global Crypto and Web3 Sustainability Report

Sustainable Growth & Reducing Climate Impact

“Blockchain innovation and tokenized carbon credit have the potential to transform the way carbon is traded”

The blockchain industry is taking urgent steps toward addressing climate change by promoting sustainability and reducing carbon emissions in multiple sectors. Blockchain can revolutionize the management of carbon credits, offsetting and measuring carbon footprints.

Efficient Carbon Trading Enabled by Blockchain’s Streamlined Renewable Energy Integration

Carbon trading is commonly used to meet international emissions reduction targets, including those outlined in the Kyoto Protocol and the Paris Agreement. Carbon credits also serve as certificates representing the right to emit one tonne of carbon dioxide or its equivalent. Under a carbon trading scheme, companies that emit less than their allocated carbon credits can sell their surplus credits to companies that exceed their emissions limit. This situat

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Author: Vugar Adigozalov

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