It is no longer news that the United States has restated its commitment toward lowering carbon emissions and taking an active part in the quest to normalize environmentally friendly measures on the global scene. This drastic shift in policymaking will spur the introduction and establishment of more stringent approaches to climate change. Undoubtedly, the reentering of the United States in the climate change conversation is indicative of the seriousness of this crisis and the drastic decisions countries would likely make to meet the environmental goals set in Paris, known as the Paris Agreement. At the heart of this political and …

Prominent online art portfolio platform ArtStation has caved in to pressure from artists and environmentally-conscious users hours after announcing a series of non-fungible token, or NFT, drops from several notable artists. On Mar. 9, the platform announced the program was scheduled to begin today and featured works from artists including Halo Infinite art director Nicolas “Sparth” Bouvier, retired NASA astronaut Nicole Stott, Assassin’s Creed franchise art director Raphael Lacoste, painter Craig Mullins, and Magic: The Gathering illustrator Alena Aenami. Following a furious bombardment of criticism, all mentions of the announcement were pulled down and replaced with a short message on …

For the first time ever, the World Economic Forum’s Global Risk Report’s top-five global risks were all climate-related. From devastating wildfires in Australia and the Amazon to ravaging locust plagues on the Horn of Africa, 2020 was punctuated not only by the global COVID-19 pandemic but also a number of worrying reminders about the effects of climate change if left unchecked. Over the past year, we witnessed the severe effects of belated action amid impending crises. While the timeframe for climate change is not measured in days or weeks, climate change headlines over the coming decade may not look dissimilar …

The recent surge of Bitcoin (BTC) price has driven notable growth in the amount of electricity consumed by Bitcoin miners, spurring another wave of argument in the community over the ecology of the seminal cryptocurrency. According to the latest data from Digiconomist’s Bitcoin Energy Consumption Index, Bitcoin energy consumption has been at its highest historical levels since late 2020, with the estimated annual consumption level staying above 75 TWh for a record period of time. Bitcoin is now estimated to consume around 77.8 TWh per year, which is as much power as consumed by Chile. Bitcoin’s carbon footprint — the …

The push by many in Iran to establish the country as a mecca for crypto miners may be having some unintended environmental consequences. According to a Bloomberg report, the energy requirements of Bitcoin (BTC) and crypto mining in Iran coupled with the demand for heat in an exceptionally cold winter have contributed to a natural gas shortage, forcing power plants to allegedly burn "low-grade fuel oils" to meet the country’s electrical needs. The result has been "thick layers of toxic smog" across many Iranian cities and blackouts as some power plants have closed. Iran is already facing economic burdens as …

It would be fair to admit that after 2020 and all it has put us through, making any predictions for the upcoming year is most likely to be a game of blindfold. Meanwhile, I am certain that humanity has much to learn from its past transgressions, and will move forward by correcting our mistakes and weaknesses. That’s what we always do. Undoubtedly, the major driver of our development this year was the COVID-19 outbreak. The effects of the ongoing global pandemic on every aspect of our lives will form our future, and there are some tendencies we started last year …

The World Economic Forum is progressing with its blockchain-based project tracking of greenhouse gas emissions. According to a Dec. 15 announcement, the WEF’s Mining and Metals Blockchain Initiative, or MMBI, has released a proof-of-concept to trace carbon emissions for mining and metals firms. The initiative is a collaboration between the WEF and seven industry companies: Anglo American, Antofagasta Minerals, Eurasian Resources Group, Glencore, Klöckner & Co, Minsur, and Tata Steel. The project was initially announced in October 2019, aiming to build responsible sourcing and sustainability practices using blockchain. The initiative aims to accelerate an industry solution for supply chain visibility …

Blockchain marketplace Climatetrade will be building its new CO2 carbon offsetting platform on Algorand, a top-50 cryptocurrency project that is gunning for scalability and transactional performance. Climatetrade announced Wednesday that it has selected the Algorand blockchain to power its carbon offsetting marketplace, which is designed to help organizations achieve CO2 neutrality — a key pillar in the fight against climate change. Climatetrade is building on Algorand for its “flexible architecture, low transaction fees and scalability of transactional performance,” according to CEO Francisco Benedito. Algorand is the 49th largest cryptocurrency project with a total market of around $393 million. Its ALGO …

An alliance of crypto firms is introducing tokenized carbon credits for individuals to offset the amount of carbon dioxide they contribute. According to a Tuesday announcement, the Universal Protocol Alliance has launched a tradable carbon token on a public blockchain. The UPA stated that crypto users can “burn” the Universal Carbon token, UPCO2, to offset their carbon footprint. However, they also have the choice of holding the tokens or trading them like any other digital asset using Uphold, a major U.S. cryptocurrency wallet and trading platform that’s also a member of the UPA. One UPCO2 token represents a verified project …

Ripple CEO Brad Garlinghouse may be a critic of Bitcoin (BTC), but he still wants the original cryptocurrency to succeed in the long run. Appearing on a Nov. 19 episode of Fortune’s Brainstorm podcast, Garlinghouse reportedly said Bitcoin is not competing with Ripple and that he continues to hold the number one cryptocurrency: “I don’t view what Ripple is doing as somehow competitive with Bitcoin. I want Bitcoin to be successful.” He implied that, during the next bull market, a Bitcoin rally bodes well for other cryptocurrencies. Bitcoin has a large gravitational pull on other digital assets, including XRP, due …

Artificial intelligence specialist Fetch.ai and blockchain solutions provider Datarella have announced the launch of a “Smart City” infrastructure trial in Munich on Nov. 12. The trial will be centered around the Connex Buildings business center in the city and will use a multiagent blockchain-based AI platform to optimize parking space management at the building. This is designed to encourage reduced car use and, hence, reduced CO2 emissions. Autonomous economic agents will negotiate the “price” of parking spaces between the operators and users. Users will be rewarded for choosing less-popular parking spaces or not using the parking lot at all. Rewards …

The World Economic Forum, or WEF, believes that blockchain represents a core element of sustainable digital finance — a new paradigm that combines emerging technology with environmentally conscious business models. In a new report published Wednesday, UBS executive Karin Oertli lists blockchain technology along with artificial intelligence, mobile platforms and the Internet of Things as being the cornerstones of digital finance. These technologies, when combined with environmental, social and governance frameworks, could help governments and corporations reach their lofty sustainable development goals. Oertli writes: “We believe that sustainable digital finance will play an essential role in efficiently channeling this capital …