The concept of carbon neutrality is one that is often talked about in terms of carbon-reduction, or even carbon-offsetting, but what if we went further? What if we lived in a world where it didn’t matter if we gained or lost weight, or if we were a little faster or slower running, we didn’t have to worry about ever increasing our carbon footprints? This concept is not so far-fetched after all, as a company called Ripple does plan to achieve carbon neutral status within the next 10 years.
Ripple, a digital currency created by an American cryptocurrency company, Ripple, has announced its plans to tackle the growing threat of climate change in a bid to reduce carbon emissions globally.
All of us know that global warming is terrifying, but we might not know that it will affect us all. Carbon emissions and pollution from our transportation, industry, and energy system are the primary causes of global warming. So, if we want to have a chance at a stable climate, we must tackle the problem of carbon emissions.
San Francisco-based Ripple plans to make its entire business carbon neutral by 2030. The company unveiled its plans for the next ten years, during which it aims to achieve zero carbon emissions. The company’s main goal in achieving zero carbon is that it wants its contribution to support the sustainability of the cryptocurrency industry. The US blockchain payments giant has unveiled its future carbon neutrality plans, saying it will partner with the Rock Mountain Institution, Energy Web (an energy-focused blockchain project) and the XRP Ledger Foundation (a non-profit). The goal of these partnerships is to use the open source tool EW Zero to help decarbonize public blockchains. In addition, the company says it is working with several major universities to identify the energy used in transactions involving digital assets, cash and credit cards. The company also stated: We are investing more resources in initiatives that accelerate industry efforts, including :
- Comprehensively measure and reduce Ripple’s carbon footprint by purchasing clean, renewable energy for all our offices and operations worldwide.
- Invest in innovative carbon removal technologies to eliminate all remaining emissions by 2030 – and introduce the next generation of decarbonization technologies across the country.
Bitcoin (BTC), the world’s largest digital asset by market capitalization, is already facing criticism in the cryptocurrency community over the issue of energy consumption. The CEO of Tesla recently announced that it would no longer accept bitcoin payments for this reason. Therefore, Ripple is trying to reduce its impact on the environment. The blockchain giant is also accused of causing confusion over bitcoin’s power consumption.For the last five years, Ripple has been working to build a distributed financial system that will disintermediate the middleman and enable global transactions for real-time value transfer. The company’s xRapid pilot program, which launched at the beginning of this month, has been designed to allow banks to instantly process cross-border payments while reducing the cost of remittance payments by more than 50 percent.. Read more about xrp carbon footprint and let us know what you think.
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