Climate change experts believe that Ripple (XRP) Ledger has the ability to distinguish between low-quality and value-added carbon credits.
In this recent period, the concept of sustainability is very important as far as the blockchain industry is concerned, and therefore many companies have begun to evolve in this respect.
For instance, consider Ethereum, which earlier this year, abandoned its PoW consensus mechanism and moved to a more environmentally friendly PoS mechanism.
Also moving with bold steps in the direction of sustainability is Ripple. At its annual conference last month in November, speakers discussed various blockchain-themed solutions to make sustainability the company’s key focus.
Ken Weber, the man in charge of Ripple’s sustainability projects, explained what role the company can play in improving transparency, accountability and tracking of greenhouse gas emissions.
Ripple’s (XRP) new idea to change the world
Mark Herrema, CEO of Newlight, explained during the conference how the company has harnessed the power of blockchain to push the use of carbon-negative materials for various industrial use cases.
Companies and institutional buyers looking to offset their remaining emissions can purchase these credits. However, Mark Herrema explains that not all credits are the same. Thus, they need different prices. Mark sees a future in which carbon credits are less commoditized, more differentiated, and value-added. His words:
“Just as there is this huge differentiation between stocks, there is also that in carbon reductions. One of the things we find very important about the blockchain, and particularly the XRP ledger, is the ability to differentiate and have an identified value for carbon credits. I think that is something that is important for the development of the carbon market.”
Ripple‘s goal is a bold one and that is to eliminate low-grade carbon and higher-impact carbon for the environment, a point made by Reilly O’Hara of CarbonCure who explained to microphones at the conference:
“I think this is where Ripple has really emerged as a leader. But 50 gigatonnes means we need 10, 50, 100 Ripples and they need to invest in ten thousand CarbonCures and Newlights. It’s going to take big bets and investment so that by 2030-2050, these technologies are off the bench and removing carbon from the atmosphere on a large scale.”
Ripple is currently confirmed as one of the great companies fighting for the environment, one of the big steps toward a sustainable future that can make sure to save many people.
Ripple vs SEC lawsuit: Cardano founder worried about side effects
We have finally reached the end of one of the legal battles that has marked the crypto world: Ripple vs Securities Exchange Commission (SEC). Cardano founder Charles Hoskinson commented on the potential outcome of the lawsuit, and according to him it could prove catastrophic for XRP and the entire crypto market.
“I have heard some rumors that the Ripple case will be settled on December 15, and this could have catastrophic implications for the industry one way or another. Regardless of what happens, this is a decentralized ecosystem. The United States of America cannot say whether Cardano will live or disappear, you and the world will, that’s the purpose of a decentralized ecosystem.”
This is how Cardano’s CEO put it in a video, raising many concerns about the outcome of the lawsuit. The effect of the statements, triggered participants in the Ripple community, but Charles Hoskinson, the CEO of Cardano, explained that his words were misinterpreted and that he is not predicting any catastrophe.