Ripple supports the development of a model for carbon credits on the XRP ledger

Ripple

Ripple is cooperating with Xange to support the UN-registered stock exchange in developing a procedure for CO2 certificates on the XRP ledger

According to its website, Xange is working closely with the UN to create and manage the first ever stock exchange for companies committed to sustainable development. Xange says it focuses on companies that meet the criteria of social responsibility and act in accordance with the SDG 2030 roadmap of the United Nations.

Xange focuses on mitigating the effects of climate change. It also means preventing illicit financial transactions by enabling more anti-carbon initiatives. This goes hand in hand with creating transparency in emissions reporting by eliminating double counting of carbon emissions reductions. XRPL is one of the first major carbon-neutral blockchains to enable sustainable blockchain operations. This is in line with Xange’s campaign against carbon emissions.

“Xange.com chose the XRP ledger because it is powerful, scalable and naturally green. The XRP ledger was developed with sustainability in mind and is one of the first major climate-neutral blockchains. Thanks to its federated consensus algorithm, the XRPL is significantly more energy-efficient than proof-of-work blockchains and ensures cost-effective transactions. “

Ripple ledger sustainability ensured the partnership

In relation to the guidelines implemented by the industry’s leading working group, including the InterWork Alliance (IWA), an initiative of the Global Blockchain Business Council (GBBC) and the Taskforce on Scaling Voluntary Carbon Markets (TSVCM), the Emission Certification- Solution from Xange to XRPL later lead to the issuance of tokenized emission certificates. The basis of the Xange solution for CO2 certificates will be the IWA token taxonomy framework and the InterWork framework. The IWA’s token taxonomy framework is used to define the token standard, while the InterWork framework is used for the smart contract standard.

The performance, scalability and environmentally friendly nature of XRPL were the reason for this partnership. The XRP ledger was designed with sustainability in mind and is one of the first major carbon-neutral blockchains.

“Thanks to its special consensus algorithm, XRPL is significantly more energy-efficient than proof-of-work blockchains and guarantees cost-effective transactions.”

The sustainability of the XRP ledger has initiated a number of collaborations. Earlier this year, Ripple announced a $ 250 million fund to help developers explore new use cases for NFTs on the XRP ledger.

“We are convinced that the XRP Ledger is ideally suited to offer an excellent user experience with NFTs and tokenization in the broader sense. In combination with the right tools and resources, the inherent performance advantages of the XRPL and its native digital token XRP will provide developers with the best possible qualifications for NFTs. “

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