Ripple News Today – Ripple Continues to Struggle With Tokenization Despite Successful Decarbonization Plans – October 3rd, 2020

  • Ripple Has Successfully Teamed of With Energy Web Foundation Promises a Carbon-neutral Blockchain
  • Carbon-neutrality is Achievable Near-term But Ripple Still Struggles with Tokenization 

Ripple News Today – In our Ripple News earlier in the week, we noted that the XRP Ledger has partnered with the Energy Web Foundation to ensure a sustainable and carbon-neutral future. The Energy Web Foundation has found a way to decarbonize blockchains but Ripple is still having challenges with tokenization. This problem with tokenization is also going to affect the decarbonization process. It’s not a surprise that Ripple has joined the list of companies that are taking a carbon-neutral approach. For one thing, carbon is one of the dangerous elements for our ozone layer and our ecosystem. Unfortunately, almost every form of energy and technological innovation leads to carbon emissions at one point or the other.

Ripple News Today – Challenges of Tokenization Must be Fixed for True Decarbonization

During an interview with Cointelegraph, Ripple’s head of social impact Ken Weber said that they are investing in carbon removal technologies, making more sustainable choices, and doing everything that they can do to make the blockchain carbon-neutral by 2030. Their partnership with Energy Web Foundation is part of this plan but it isn’t the only thing they are doing to meet their goals. Energy Web Foundation designed a platform known as Energy Web Zero. It is an open-sourced platform that decarbonizes blockchains using tokenization. Blockchain fonts like Ripple can buy tokenized renewable energy.

Weber said that people in the Philippines, the United States, and the United Kingdom will be able to use the platform effectively. With each purchase of renewable energy, energy attribute certificates will be issued. The platform will also establish digital identities that will be anchored to the Energy Web Blockchain for users. The CCO of the Energy Web Foundation, Jesse Morris, said that these energy certificates are important and Ripple will be the first organization to use this platform. In his words;

“We are using a blockchain to solve its own problems in a sense. Open source platforms are critical for transparency and trust, which is the big difference here. Companies like Google and Facebook have impressive sustainability targets and can make decisions on how to achieve their goals, but given the decentralized nature of blockchain communities, we can’t do that. Therefore, using tokenized EACs across a blockchain network is a powerful way to get a decentralized ecosystem to purchase renewables to offset energy consumption.”

Ripple isn’t the only company that is working on reducing its carbon footprint. Tech giants like Google and Apple are also working on getting a carbon-neutral ecosystem by 2030. However, none of these companies have been transparent about their methods or the results. Ripple’s blockchain ensures transparency and accountability.

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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