Climate & Crypto. The blockchain will be used to fight the climate crisis

Sanneke Kloppenburg recently co-authored an extremely informative article (Climate & Crypto) in which she and her two colleagues conduct an investigation into what they dubbed “climate cryptocurrency governance.”

They analyzed documents from various international organizations dealing with climate governance and found a large number of theses that underscore the immense transformative potential of the blockchain.

Good plans galore, Paris Climate Agreement, Sustainable Development Goals of the UN and this summer a National Climate Agreement for Holland. Municipalities, provinces, water boards and NGO’s create local climate policy.

Companies have increasingly real and stringent commitments. Local energy cooperatives and other initiatives strive for an energy transition and greening of the neighbourhood. But are those plans realistic enough and does everyone know what to do?

Forget big change, it is all about tiny habits” says B.J. Fogg in his famous TEDtalk. So, divide large goals in smaller parts and make clear who needs to do what and when.

Markets and financialization more broadly do seem to continue to play an important role in forming the climate imaginary, with or without blockchains…

Yes, there are people arguing that blockchains could help achieve climate objectives by facilitating the trading of climate-oriented tokens and cryptocurrencies.

Climate-oriented tokens and cryptocurrencies are disseminated with a climate-related philosophy, but unlike the blockchain-based solutions which focus on existing carbon markets, token supply and price are not directly coupled to carbon metrics.

For example, the SolarCoin cryptocurrency incentivises the production of solar energy by rewarding solar producers with an energy-referenced currency.

Or the Energycoin, which seeks to reward climate-friendly choices through digital tokens. These digital tokens represent a consumer’s avoided CO2 emissions and would have an exchange value in a local community.

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