- Filecoin goes deeper into the ReFi market with the launch of carbon offset platform C02.storage
CO2. Storage is the first ever Web3 data storage solution that allows for transparency for comprehensive environmental attributes underlying carbon offsets. It is a free storage utility that seeks to tackle the inadequacies of traditional storage solutions for all kinds of digital environmental assets, which include carbon offsets, renewable energy credits, and others.
As a Protocol Labs initiative, CO2 Storage aims to decarbonize the Filecoin network, an open-source, public cryptocurrency and digital payment system. It provides blockchain-based cooperative digital data storage.
Speaking on the CO2 storage initiative, Flowcarbon Co-Founder, Phil Fugel, believes CO2 storage is focused on improving market efficiency by connecting corporations, individuals, and developers in order to incentivize climate change actions through a vigorous carbon market.
According to a recent report, the production of climate-friendly, responsible digital assets are a priority for the current United States government administration, as initiatives like CO2 Storage increase the environmental impact of web4 technologies.
Also lending his voice to the subject, Alan Ransil, Ph.D., founder of Filecoin Green at Protocol Labs, says CO2 storages go beyond the traditional web2 carbon market infrastructure towards improving the authenticity of “carbon credits” and “interoperability” between different systems. He further says Filecoin Green and its partners use web3 tools to lay the foundation for a more transparent and scalable carbon market. His aim is to “usher in the next generation” of ReFI systems that would make climate and environmental efforts “as impactful as possible.”
“Filecoin Green’s CO2.storage solution uplifts our mission to bring carbon credits into a regenerative economy”, says John Hoopes, co-founder at Toucan, as to him, it utilizes Web3 features to take climate action to the next level.
Filecoin Greencurrrently in league with partners who align with their dream for a sustainable climate-friendly regenerative technology. Some of these partners includes; Toucan, KlimaDAO, Flowcarbon, Moss, dClimate, Hyphen, Nori, Regen Network, BitGreen, Senken, Thallo, Ripple, the HBAR Foundation, Envision Blockchain, Return Protocol, and Gainforest.
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