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Saturday, September 30, 2023

UNFCCC Has Weighed In The Usage Of Blockchain To Combat Climate Change

The UNFCCC or the United Nations Framework Convention on Climate Change, along with several entrepreneurs recently delved into a debate that discussed the role of technologies like blockchain in helping solve issues of climate control.

During the press conference that took place under the banner of DigitalArt4Climate, Kristina Corner, the editor-in-chief of Cointelegraph, went on the state to firmly understand the various initiatives of blockchain that would be actively fighting climate change. The discussion was started by Anna Dart, a digital avatar who shared the idea of bringing several artists to inspire climate change. 

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UNFCCC’s Scheme For Climate Change Would Help NFTs As Well

As a part of this initiative taken up by the UNFCCC, the digital arts of the chosen finalists would see them be exhibited as clean NFTs across several UN initiatives that were related to climate change. The founder as well as CEO of IAAI, Miroslav Pozer, went on to bring about the explanations for the next phase of the initiative- which would involve mobilizing the funds or the resources. 

Polzer went on to explain that the sale of clean NFT under the UNFCCC scheme would definitely support the youth-focused Sustainable Development Goals initiative that the United Nations had in mind. This would also lead to around 15% of the revenue going towards the artists, and 35% moving towards the Youth Climate Action Fund. The remaining 50% will then be dedicated to the technological and institutional infrastructure for most of the non-party stakeholders that including the United States Organizations DAO setup. 

The CEO of Global Youth Climate Action Fund Institution, Dolphin Magero, also highlighted the importance of bringing out artists in the initiative that UNFCCC had taken up.

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