Filecoin Launches Initiative To Power Web3 Technology With Clean Energy

Filecoin Green, a Protocol Labs program aimed at reducing Filecoin’s environmental effect and making it more verifiably sustainable, has pioneered an effort to power Web3 technology with verifiably clean energy.

The startup plans to overcome the problems of existing carbon storage systems by marrying blockchain’s granular monitoring capability with Web3’s information-sharing architecture, according to the statement.

CO2.Storage, a Web3 data storage service created by Filecoin Green, aims to provide transparency for carbon offsets and address traditional storage options for all forms of digital environmental assets, including renewable energy credits.

As part of the campaign, Filecoin Green announced partnerships with numerous organizations working in carbon offset tokenization, including Toucan, Thallo, Ripple, the HBAR Foundation, Envision Blockchain, Return Protocol, and Gainforest.

Carbon credit suppliers will be able to establish their own data schemas and store them via content-addressing on Filecoin and the InterPlanetary File System, resulting in a transparent carbon credit system.

Carbon emissions and carbon credits have become a hot subject as conventional companies, and governmental bodies turn to blockchain technology as a potential way to reduce carbon emissions.

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