Cleantech Disruption News: 2018 will usher in the green cryptocurrency revolution
Headlines sounding the death knell of fossil fuels and the internal combustion engine do not quite add up to the birth of a global green economy. For that, we need green money as much as we need clean technology.
Green cryptocurrencies will rise in 2018 – and with them, a new form of financing that is as transformative as common stock issues were in their day. This will come from a marriage of technologies such as blockchain and smart contracts with better environmental data and growing corporate interests in raising finance for green-frontier investments. In turn, these cryptocurrencies will incentivise innovation and leadership, reward cleaner purchases and help tackle some of the thorniest policy issues.
With blockchains, supply-chain information from different economic sectors can be pooled into a global, trusted dataset that is fully interoperable. This level of specificity (and transparency) will make it possible to quantify specific environmental benefits – whether that’s clean jet fuels, green proteins or renewable power – and turn them into market commodities.
Such data will be included in the “smart contracts” already supported by Ethereum, for instance, which provides a mechanism for exchange, not only of payments but also the life-cycle implications of production processes. That the Enterprise Ethereum Alliance, an open-source blockchain alliance, has attracted companies such as BP, Microsoft and UBS also signals its readiness for widespread adoption.
Read Full Article at WIRED