At the COP26 press conference in Glasgow, Scotland on Wednesday, a group of experts from the field of technology and environment spoke Introduce global citizens around the world how to use blockchain technology to improve coordination and support for climate action.
The GloCha United Citizens Organization (UCO) Climate Empowerment Initiative was launched at COP26 as a blockchain-based quasi-international organization based in Klagenfurt, Austria. It will now seek to use blockchain technology to advance climate change goals that are consistent with the United Nations (UN) Sustainable Development Goals (SDG).
UCO is rooted in the Climate Empowerment Action Innovation Project (ACE_AT) and the Global Challenge Action Empowerment Alliance (GloCha). It helps to promote open discussions about society’s collective vision for climate action and enhance the capacity for large-scale resource mobilization.
GloCha has partnered with the UN’s Habitat Youth Program and Climate Chain AllianceAmong other things, cooperate with the Youth Climate Organization to build the technical and institutional infrastructure needed to meet the United Nations Sustainable Development Goals through an impact-oriented entrepreneurial model.
Hosted by Miroslav Polzer, founder of GloCha, guests include Romi Sumaria and Dairou Sidiki, And Kristina Cornèr, editor-in-chief of Cointelegraph, representing UCO’s media partners.
The co-founder and CEO of Oblique Life Romi Sumaria talked about the opportunity to mobilize financial and human capital for climate change initiatives through the implementation of blockchain technology, noting:
“Blockchain will enable us to ensure that those who invest in these projects can understand where their money or time is spent, what the exact metrics they are looking at, and understand their return on impact (ROI). “
The organization’s roadmap outlines its goal of publishing a white paper report in late February 2022, and then providing registration services in early April 2022.
Other considerations include the allocation of carbon footprint compensation Cryptostamps, the mobilization of resources through the Decentralized Autonomous Organization (DAO), and the support of multiple social participation projects.
UCO will work with their respective government systems to establish these partnerships in the coming months, and deployment is expected to begin at COP27 hosted by the African continent in November 2022.
Dairou Sidiki, CEO of APCD Chad and long-term partner of GloCha, commented on the importance of involving African citizens in sustainable development issues and promoting the development of innovative solutions:
“We believe that implementing this partnership, especially raising funds and mobilizing resources for climate action in Africa, and considering the solutions that Africans can have and helping them implement them on the ground is a brilliant idea.”
During the COP26 conference, many thought leaders in the environment and crypto ecosystem expressed legitimate concerns about the increasing energy-intensive activities on blockchain networks such as Bitcoin.
The leading digital assets are discouraged Climate experts, because it relies heavily on fossil fuels to maintain the production of mining activities, which is the basic pillar of its establishment and operation.
Earlier this year, an expert research team at the University of Cambridge Publish The Bitcoin Electricity Consumption Index calculated that Bitcoin consumes 121.36 terawatt-hours per year, which is an earthquake figure and is higher than that of the entire country such as Argentina in terms of energy consumption.
In recent months, many cryptocurrency companies dedicated to research and development of decarbonization solutions for blockchain activities have also received attention.
Jack Dorsey’s Square partnered with Ark Invest this year, publicity A memo argues that Bitcoin provides a unique opportunity to promote the innovation and adoption of a green grid powered entirely by renewable energy.
The solution to this problem is an ecosystem in which solar/wind energy, batteries and Bitcoin mining coexist, forming a green grid that runs almost entirely on renewable energy. This is not only feasible, but also possible without jeopardizing the profitability of the industry.
— Square encryption (@sqcrypto) April 21, 2021
The report cited analytical data indicators, such as energy levelling costs or LCOE and transmission capacity to determine the ease of transition to green production, and concluded:
“Bitcoin and the energy market are converging, and we believe that today’s energy asset owners may become tomorrow’s miners.”