Ripple News Today – Ripple Promotes Carbon Neutrality with Latest Sustainability Agenda – October 1st, 2020

  • Ripple Takes the Lead in Sustainability Agenda to Achieve Carbon Neutrality By 2030
  • Reducing Carbon Emissions Will Save the Global Economy $26 Trillion by 2030 

Ripple News Today – When it comes to providing enterprise solutions, few blockchains can stand toe to toe with Ripple. While the firm has made it clear that they intend to take over the global financial industry, they have recently shown interest in providing solutions for reducing carbon emissions to net-zero. Yesterday, the company unveiled initiatives specifically to champion clean global finance that is carbon-neutral. They also announced the launch of their open-source platform that helps blockchains decarbonize.

Ripple News Today – Ripple Commits to a Carbon-neutral Global Financial Economy

By taking the lead in the latest agenda, Ripple has become the first blockchain firm to venture into the global emission problem. Ripple’s interest in reducing carbon emissions is not a surprise since blockchain technology will take the lead in the upcoming financial revolution but it also happens to depend significantly on energy consumption. Studies have shown that the next three years are crucial for blockchain adoption. Ripple and other blockchain companies need to ensure that their technology is sustainable long-term. They are working with the Rocky Mountain Institute and REBA. Jules Kortenhorts, the CEO of the Rocky Mountain Institute said;

“Global finance is a key driver on the path to achieving a zero-net emissions energy future industry-wide. Blockchain and digital assets are transformative technologies and will play a pivotal role in the future of finance. Ripple is taking the lead to ensure fintech is part of the effort to build a sustainable future that is not only transformative for banks and consumers, but also beneficial for the planet.”

As part of its clean finance agenda, Ripple has joined forces with the Energy Web Foundation to develop an open-source tool for blockchain decarbonization that allows them to purchase renewable energy in local markets across the globe. You need to be a blockchain executive to access the tool. All blockchain developers are free to use it. The XRP Ledger has announced that it is going to be the first to use this tool and the renewable energy it purchases will be used on the XRP Ledger. This tool and other similar ones will help the global economy save $24 trillion by 2030 by reducing carbon emissions. To this end, Brad Garlinghouse said;

“While the mainstream adoption of blockchain and crypto is encouraging, we must constantly evaluate how we innovate to ensure the future of global finance is sustainable. As digital payments continue to evolve, we need to make long-term systemic shifts as an industry to ensure digital transformation doesn’t come at the cost of our planet. We are leading this change and urging all crypto players to hold themselves accountable–monitoring their energy consumption to make greener choices.”

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.


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