According to a report by The Wall Street Journal
, millions of credits for greenhouse gas emissions are now tied to a new altcoin project, attracting fast-growing DeFi projects and investors like billionaire Mark Cuban. As Kriptokoin.com , we are citing the highlights of the report and Cuban’s explanations.
Altcoin project attracts big investors like DeFi entrepreneurs and Mark Cuban
Proponents say the altcoin project could bring more transparency to carbon credits stemming from projects like building renewable energy bidollarcycles. Many companies buy them to offset their emissions. However, projects receive third-party certification, while loans are traded in unregulated markets. Among the market participants, the report highlighted Toucan, a DeFi project that allows users with carbon credits to link to tokens called BCT, which was launched in October. BCT stands for Base Carbon Tonne and the tokens can be traded on cryptocurrency exchanges. The report says that more than 17 million carbon credits are tied to BCT tokens.
Mark Cuban shared that he is an Air Conditioner investor
Dallas Mavericks owner Mark Cuban He said he was an air conditioner investor, but didn’t share how many or whether he was making a profit. “Although anonymity is not optimal and this is a bit of a learning experience, the environmental impact can be significant if it works,” Cuban told WSJ. Credits are almost tied to newly created tokens, and some market participants say the technology creates incentives for projects aimed at helping the climate, according to the WSJ’s report released Monday. The enormous amount of energy used in bitcoin mining has resulted in an environmentally poor reputation on cryptocurrencies.