The scoop: The sustainability of Web 3 ties closely to the real world. A large portion of our world depends on energy also needed to run the web.
There are some outside factors you may not be aware of that can drastically change how Web 3 influences sustainability around the world (not just on the web).
- Only about 12% of the energy in the US comes from renewables right now. This needs to change in order to provide a more sustainable energy source for Web 3 applications.
- Web 3 applications can offset its energy consumption by making other aspects of our economy more sustainable.
- It’s still early. We are likely to see unexpected solutions come from unexpected areas. Buckle up for the ride.
What’s next? Rather than trying to predict the future, spot trends that influence the sustainability of Web 3 to better gauge its progress.
Dig deeper → 5 min
If you want to decarbonize the economy, carbon offsets don't work. Here's why.
Despite doubling in price the last 18 months, carbon offset prices are cheap (relative to the cost of reducing emissions). Carbon offsets should and will be much more expensive. For now, because they're so cheap, carbon credits act more like a marketing tool than a social good.
The little secret?
Dig deeper → 3 min
Busy? Try the speed read.
The scoop: Uphold, a digital trading platform, released a digital carbon credit coin called UPCO2.
On a mission to democratize carbon: Think of corporations and governments as the gatekeepers of carbon credit markets. Using blockchain technology, UPCO2 hopes to ease the barrier to entry for ordinary people. UPCO2 can also help standardize carbon prices on a global level using voluntary carbon credits (VCUs).
Should you buy one? UPCO2 coins help reforestation efforts in areas like the Amazon, Congo Basin, and Indonesia. Carbon prices (like any commodity) are pretty volatile, but I predict durable demand for this asset. Everyday people want more ways to take climate action. This is one.
Dig deeper → 4 min