On October 4, Ripple announced a partnership with Thallo, a web3 climate company, via twitter post to develop a marketplace that is built on blockchain technology. As per the sources, the main objective of this partnership is to reduce the amount of carbon footprints left by the cryptocurrency business.
The early adopters of blockchain technology are well aware of the harmful effects that carbon emissions have on the surrounding environment and are doing everything they can to mitigate those effects. In addition, very few people are even taking measures to mitigate and manage that, such as the transition that Ethereum is making to Proof of Stake (PoS).
According to Ripple, the Climate Pledge was initiated in September of 2022 with 375 other companies that are committed to working toward a more sustainable future. By using Ripple’s business readiness and the scalability of carbon-neutral XRPL, Thallo is democratising access to verified carbon credits for investors of all types, including retail and institutional investors.
Thallo is a new firm in the web3 domain that is concentrating on the development of a new market for high-quality voluntary carbon credits. At this time, it has struck collaboration agreements with 23 different companies in order to create a blockchain platform that is unlike any other. The Thallo teams are industry professionals from both probable climate and sustainability as well as web3.
The collaborations that Thallo has established have been classified into three categories: founding, integrity, and innovation partners. Ripple is a founding partner of Thallo, along with other companies that are responsible for “enabling Thallo to reach its North Star.”
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