Crypto solutions provider Ripple has pledged $100 million towards the climate change fight. According to the announcement, the funds from Ripple will go towards the modernization and scaling of carbon markets while supporting long-term, high-quality carbon removal solutions. Acknowledging the increasing demand for such solutions and the need for cross-industry cooperation, Ripple CEO Brad Garlinghouse commented, “Our $100 million commitment is a direct response to the global call to action for companies to help address climate change by deploying resources including innovative technology, strategic capital and talent. While reducing emissions and transitioning to a low-carbon future are paramount, carbon markets are important for meeting climate goals. Blockchain and crypto can play a catalytic role in allowing carbon markets to reach their full potential bringing more liquidity and traceability to a fragmented, complex market.” The Role of Blockchain in Scaling Carbon Markets Blockchain technology and cryptocurrencies have long been criticized for their perceived environmental impact. Often overlooked is the industry’s ability to add value to carbon markets. Blockchain’s decentralized nature makes it easy to create, validate and launch products. It would also bring more scalability and transparency to carbon markets. Tokenisation can be used to create value for buyers while ensuring accurate prices. Ripple’s $100 million fund...
