{"id":26561,"date":"2023-12-13T09:36:03","date_gmt":"2023-12-13T09:36:03","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/dfinity-founder-says-blockchain-can-bolster-efforts-to-fight-climate-change\/"},"modified":"2023-12-13T09:36:05","modified_gmt":"2023-12-13T09:36:05","slug":"dfinity-founder-says-blockchain-can-bolster-efforts-to-fight-climate-change","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/dfinity-founder-says-blockchain-can-bolster-efforts-to-fight-climate-change\/","title":{"rendered":"Dfinity founder says blockchain can bolster efforts to fight climate change"},"content":{"rendered":"

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Dominic Williams, founder and chief scientist at Dfinity, says blockchain technology and its decentralized and trustless nature, gives it a unique ability to assist in the fight against climate change.\u00a0<\/p>\n

Williams told Cointelegraph there are three ways in which blockchain can address climate challenges. Blockchain networks can support the creation of trustless infrastructure that offers incentives for climate action, increases efficiency and provides an alternative to traditional information technology, which has a \u201chuge carbon footprint.\u201d\u00a0<\/p>\n

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ICYMI: #ICP<\/a> will be a part of Voluntary Recycling Credits (VRC) <\/p>\n

This is the first ever global standard to incentivize multi-material recycling \u267b\ufe0f#ICP<\/a> is being adopted by global institutions as we watch pic.twitter.com\/c1buH2buS7<\/a><\/p>\n

\u2014 Internet Computer (@ICPinfinite) December 9, 2023<\/a><\/p><\/blockquote>\n

As an example of how blockchain can be used for the environment, Williams highlighted the Voluntary Recycling Credits (VRC) initiative. VRC is an incentive system to counteract the solid waste footprint. The platform was recently presented at the COP28 summit and is built on the Internet Computer (ICP) network. Williams said:\u00a0<\/p>\n

\u201cThe VRC runs on the Internet Computer in its entirety. That is, it is fully on-chain and has no dependencies on traditional tech like cloud services. This means there are no backdoors or gatekeepers, and its international participants, who mint and purchase recycling credits, can absolutely trust what they see.\u201d<\/p><\/blockquote>\n

According to Williams, blockchain networks like the ICP provide trustless infrastructure that eliminates third parties and allows for secure and transparent data verification. \u201cThis can be leveraged to ensure proper recycling and handling of waste materials by tracking them from origin to destination,\u201d he added.\u00a0<\/p>\n

Related: <\/em><\/strong>COP28: Blockchain projects make push to decentralize climate markets<\/em><\/strong><\/p>\n

In the case of the Voluntary Recycling Credits exchange, the ICP powers auditable and secure transactions between waste offsetters and recycling companies. With this, waste producers and recyclers can \u201ctrust the veracity of the credits they purchase, sell or trade.\u00a0<\/p>\n

Williams noted that the \u201cICP guarantees the VRC operates in a transparent and tamper-proof manner.\u201d The executive told Cointelegraph that credits that are minted and sold are auditable and secure records of recycling credits and transactions.\u00a0<\/p>\n

Magazine: <\/em><\/strong>Real AI use cases in crypto: Crypto-based AI markets, and AI financial analysis<\/em><\/strong><\/p>\n<\/div>\n