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Cryptocurrency and Blockchain Technologies Address Global Challenges, Including Environmental Crisis Through Carbon Offsets

  • The UN Environmental Programme considers blockchain a potential opportunity for the reduction of carbon emissions and other environmental impacts faced globally
  • Cryptocurrency and blockchain technology has the potential to create a positive environmental impact through the use of digital ledgers and carbon credits
  • Carbon credits are digital certificates purchased by companies and environmental projects certifying that they have reduced emissions by at least 1 tonne of CO2 or equivalent greenhouse gas in a given year
  • Companies can be considered carbon neutral if the number of carbon credits purchased equals their carbon footprint
  • The voluntary carbon offsets market was valued at $305.8 million in 2020 and is expected to reach $700.5 million by 2027

Since being introduced in 2008, cryptocurrency and blockchain have become an emerging technology trend making headlines and catching the attention of venture capitalists. Often used interchangeably, crypto and blockchain technology are not the same. Since inception, hundreds of cryptocurrencies have emerged, creating an alternative to fiat currency – a decentralized financial currency. On the other hand, blockchain technology has been considered one of the safest ways to store data since it cannot be altered once added to the chain. Blockchain technology is the digital ledger technology that allows transactions to be executed in a safe, more secure setting. One of the highest valued cryptocurrencies and the first blockchain technology application is Bitcoin. 

One of the biggest environmental debates in recent history (carbon emissions) has something in common with Bitcoin and blockchain technology, as environmentalists have expressed deep concern over the amount of energy consumed by Bitcoin miners and the increased carbon footprint it potentially leaves…

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About CryptoCurrencyWire

CryptoCurrencyWire (“CCW”) is a financial news and content distribution company that provides (1) access to a network of wire services via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets, (3) enhanced press release services to ensure maximum impact, (4) social media distribution via IBN (InvestorBrandNetwork) to nearly 2 million followers, and (5) a full array of corporate communications solutions As a multifaceted organization with an extensive team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CCW brings its clients unparalleled visibility, recognition and brand awareness. CCW is where news, content and information about crypto converge.

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