DeFi Can Be Used For Environmental & Social Governance - Mark Cuban.

DeFi Can Be Used For Environmental & Social Governance - Mark Cuban.

2021-11-17 | Eddy Morgan

DeFi Can Be Used For Environmental & Social Governance - Mark Cuban.

Mark Cuban, a well-known businessman, and reality TV star has stated that he is utilizing blockchain technology to disable carbon offsets on the Polygon Network and believes that DeFi degeneracy can be used for environmental and social governance. Recently, the article's Twitter account at KlimaDAO, a millionaire blockchain activist, stated he was buying carbon offsets worth $ 50,000 and chaining them like Base Carbon Tonnes (BCT) practically every 10 days since KlimaDAO's launch. BCT is a Toucan Protocol-bound digital asset representing one tonne of carbon from the Verified Carbon Unit registry that is tied to the Polygon Network. KlimaDAO, a different blockchain initiative that wants to drive BCT price information and gather over 9 million BCTs, has stated that it is adopting Polygon because it has a low-proof output network with a minimal carbon footprint. In the same tweet, Cuban stated that he is willing to collaborate with KlimaDAO to promote carbon emissions over carbon offsets. He stated:  "I've been purchasing 50k offset every 10 days or so, checking it, and putting it in BCT." "I'd like to achieve the same thing, if not more, with removal within KLIMA." KlimaDAO's Cuban support is unsurprising given that Klima is part of his financial portfolio. He was unable to be reached for comment. And it is not the first time a Mavericks owner has entered a blockchain ecosystem based on environmental, social, and commercial considerations. In June of this year, DClimate revealed that the Cuban had joined the network as an investor and strategic consultant. DClimate is the first distributed weather data network in the world. "I am happy to be collaborating with a company that uses blockchain and smart contracts to address a demanding, realistic, and constructive task to assist organizations throughout the world in building resilience to climate change," Cuban stated. Cuban appears to be counting on blockchain solutions to address climate concerns, with two of the three environmental ventures featured on the Mark Cuban Companies website emphasizing distributed leverage technologies. The COP26 climate meeting in Scotland last week also witnessed the inauguration of a new blockchain program targeted at addressing climate issues.

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