Famed billionaire and actuality TV star Mark Cuban has revealed he’s utilizing blockchain expertise to lock up carbon offsets on the Polygon Community.
In a Saturday Twitter thread sharing a Cointelegraph story on KlimaDAO, the billionaire blockchain fanatic said that he has been shopping for $50,000 value of carbon offsets and inserting them on-chain as Base Carbon Tonnes (BCT) roughly each 10 days because the launch of KlimaDAO.
BCTs are digital property bridged onto the Polygon Community by Toucan Protocol that characterize one ton of carbon from the Verified Carbon Unit registry. KlimaDAO, a decentralized blockchain challenge that goals to drive appreciation of the worth of BCT and has gathered over 9 million BCTs, instructed Cointelegraph that it makes use of Polygon as a result of it’s a proof-of-stake community with negligible emissions that generates a low carbon footprint.
Cuban indicated in the identical Twitter thread that he can be open to working with KlimaDAO to advertise carbon elimination maybe over carbon offsets. He stated:
“I’ve been shopping for 50k in offsets each 10 days or so, verifying them and placing them on chain as BCT. I might like to do the identical factor and doubtless extra with elimination inside KLIMA.”
Cuban’s help for KlimaDAO comes as no shock — Klima is in his portfolio of investments. He couldn’t be reached for touch upon the extent of his involvement with Klima.
It is usually not the Mavericks proprietor’s first foray into the blockchain-based environmental, social and company governance house. DClimate introduced in June of this yr that Cuban had joined the community as an investor and strategic advisor. DClimate is the primary community for decentralized local weather information.
Cuban stated, “I’m excited to be working with a crew that’s utilizing blockchain and good contracts to resolve a urgent, real-world drawback and that’s constructing a platform to assist organizations around the globe construct local weather resilience.”
Associated: Bitcoin miners look towards nuclear energy for sustainable vitality
Cuban seems to be leaning into blockchain options to deal with local weather challenges, with two of the three environmental investments listed on the Mark Cuban Corporations web site specializing in distributed ledger applied sciences.
Final week’s COP26 local weather convention in Scotland additionally noticed the inception of a brand new blockchain initiative aimed toward tackling local weather points.