Ripple has recently repeated its stance on successfully becoming carbon net-zero latest by the year 2030. This is part of a continuous initiative to be able to prevent worst-case situations pertaining to climate change, similar to various efforts being made by numerous nations all over the world. Unlike Ripple, however, these countries have set 2050 as their respective deadline.
As per the statement made via Twitter, Ripple will hence be working alongside various leading universities and related institutions in an attempt to drive new research about the subject of energy consumption evaluation across cash, credit card networks as well as digital assets in general.
Ripple wants to do its part to help build a ‘sustainable future’
Ripple claims that the digital asset and blockchain industry shall be playing a vital role in constructing a future that is sustainable in the context of global finance. To this end, Ripple desires to contribute towards achieving this goal and has therefore made a pledge to accomplish the aforementioned carbon-net zero as per the stated target deadline of 2030. Furthermore, it has also partnered up with Energy Web, Rocky Mountain Institute, and the XRP (Ripple’s native token) Ledger Foundation to help further the efforts being made to successfully have the public blockchains be decarbonized.
Energy Web had posted a blog towards the end of September last year which detailed the XRP Ledger being decarbonized. The blog post also stated that this indicated the inaugural extensive decarbonization of any kind of public blockchain, which simultaneously signified an important environmental and ecosystem related challenge being addressed for various blockchain technologies all across the world.
Global economy to benefit from reduced carbon emissions
As such, Ripple shall be investing several resources and sparing no expense as it contributes towards becoming more ‘clean and renewable’. The carbon footprint of Ripple itself shall also be measured and subsequently reduced. Carbon removal technology, along with numerous other initiatives, will also be invested in.
Furthermore, Ripple also believes that by adopting more sustainable and environmentally friendly measures across a variety of different industries, carbon emissions can be significantly reduced, which will also have a positive impact on the world’s economy. This global economy can, therefore, potentially save up to approximately $26 trillion if the deadline of 2030 is met.
Lastly, Ripple accused Bitcoin (BTC) of not being environmentally friendly at all, claiming that the flagship cryptocurrency’s vast carbon footprint is disconcerting and that it also consumes nearly the same amount of energy as Portugal per annum.
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