The World Economic Forum (WEF) recently published a white paper explaining how blockchain can provide the infrastructure needed to tackle climate change “at speed and at scale.” According to the white paper, the value of blockchain to the climate action community can be divided ed into four categories. First, blockchain could "enhance trust and ambition" in climate negotiations. It can also increase market transparency and credibility, and provide more capital to project developers. Finally, digitization "democratizes" climate action, writes the World E economic Forum.
Brynly Llyr, head of blockchain and digital assets at WEF's Cryptocurrency Impact and Sustainability Accelerator (CISA), said it was important to consider and research emerging technologies as a tool to help tackle climate change. Llyr explained: "Global climate infrastructure, tools, and Coordination technologies can all help us keep pace with our changing planetary ecosystem. This is where blockchain and shared infrastructure technologies can help."
Due to blockchain's potential, the white paper also highlights that industry leaders agree that “constructive regulation” is needed to support responsive digital climate innovation. Dana Gibber, CEO of blockchain climate project Flowcarbon, said policymakers must concur sider the various applications of blockchain, not just the most prominent ones. "This goes beyond cryptocurrencies to include things you can build on top of the blockchain," Gibber said.
Meanwhile, cryptocurrency exchange Coinbase is also pushing for more regulatory transparency in the US digital asset space. On April 25, the crypto platform filed a lawsuit aimed at forcing the SEC to take action on its rulemaking petition that has been pending sin ce last July. The exchange also launched a non-fungible token campaign calling for smarter crypto policies.
