Crypto-as-a-solution solution provider has joined the World Economic Forum’s Crypto Sustainability Coalition, a part of the Forum’s wider Crypto Impact and Sustainability Accelerator.
The coalition aims to find ways to use blockchain technology to push positive climate action, and will specifically address the energy usage of the crypto sector, how web3 can facilitate climate action and the use of blockchain-based carbon credits.
Web3, a term coined by Etherium co-founder Gavin Wood, refers to a blockchain-based decentralised online ecosystem.
Zumo will contribute to the coalition’s working groups, developing guidance and toolkits for companies, regulators and startups to reach energy goals using blockchain.
Nick Jones, CEO of Zumo, says: “It is encouraging to see the level of coordinated activity that has emerged in this area since we started our own crypto decarbonisation journey.
“There is a lot left to do and a long way to go; what we are seeing, however, is the strands of this work in the crypto ESG space really coming together – and, perhaps, the beginnings of a shift in the narrative and the ability to see this technology not just as a problem, but as a potential force multiplier for good.”
Evin Cheikosman, lead of the coalition, adds: “Climate change is a global coordination problem. What is urgently needed are global coordination technologies that can transcend the mass bureaucratisation of climate action.
“This is where web3 takes up the torch. I’m excited to work with climate innovative companies, like Zumo, to showcase the impact journey that the Crypto Sustainability Coalition is spearheading from climate challenge to web3 solutions.”
