. In order to harness the rising demand for a new regenerative economy, we need to turn toward emergent technologies such as DeFi. Vinay Gupta said it best when he said that “crypto wins by solving problems that nobody else can solve, profitably.
And no place is better suited and more ready for its effects than the voluntary carbon market. The VCM has long been plagued by issues of accessibility and quality. It is nearly impossible for an individual to get an account at one of the major carbon registry bodies, preventing them from even participating in the market. The market is also illiquid and opaque.
All in all, the quality of carbon projects is a hotly contested issue. There are many instances of projects overestimating emissions reductions; additionally, permanence and leakage are notoriously difficult to measure. To date, various ReFi projects have emerged to address these issues, from the angle of infrastructure for tokenized credits, protocols for verifying carbon project data and so many others., different actors can address different parts of all sorts of problems in an interoperable and permissionless way, without contending with the many gatekeepers and roadblocks historically involved.
All existing ReFi projects are beginning to interact with each other, and this ecosystem is poised to explode in a way that will happen much faster thanks to Web3. With more of an emphasis than ever on sustainable practices in virtually every sector in the world, ReFi-centered growth will be exponential, and 2023 will be the year we look back on as the time when it all took off.
Philfog Bitstamp This is a critical and innovative approach to addressing the climate crisis. Thank you for sharing and for the important work you do Philfog
Philfog Bitstamp I love this! it's time to focus on what web3 was meant to be. building a method of wealth and independence generation for the common man and the vox populi to enact real change unlike never before. down with celebrity pump schemes!