Australian exchange aims to make cryptocurrency "greener"

The carbon footprint of cryptocurrency mining is enormous. Finding new solutions to offset this problem has not been straightforward. Australian trading platform Independent Reserve may have come up with a creative solution. 

Several reports have been published regarding the climate impact of Bitcoin mining. It requires a ton of electricity to do so. As such, the carbon footprint of cryptocurrency mining is often a topic of debate. Actively searching for a solution is not all that easy.

The Double Play by Independent Reserve

Independent Reserve, the Australian exchange, tries its hand at doing its part. Their new “partnership” with Climeworks is rather novel. The latter firm, based in Switzerland, aims to capture CO2 from the air through proprietary technology.

The exchange will now try to capture at least 1 tonne of CO2 per year as well. It is the first step toward making the cryptocurrency industry “greener”. Such a novel effort alone will not be sufficient to make any real impact, however.

Independent Reserve acknowledges betting on one horse is never a smart idea. The Australian firm has applied for corporate membership of Trillion Trees.

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Source: Australian Exchange Aims to Make Cryptocurrency “Greener” » The Merkle Hash