Crypto.com (CRO) has announced its goal of becoming carbon negative within 18 months.
According to reports, Crypto.com (CRO) is committed to offsetting more carbon than what’s generated by all activities across the organization using a multi-phased approach.
https://t.co/vCNztATkNg is committed to becoming Carbon Negative within the next 18 months.https://t.co/vCNztATkNg and https://t.co/FaauJb9Cyz Chain users can rest assured that we're building a more sustainable future together.
— Crypto.com (@cryptocom) May 27, 2021
The proposed plan will take three phases and it’s expected to be completed within 18 months.
- The first phase will be aimed at assessing the carbon generated through cryptocurrency trading, deposits. As well as, the withdrawal activities on all Crypto.com’s platforms (which includes the app, exchange, NFT, DeFi, and Crypto.org Chain).
- The second phase is expected to detect the most effective ways to offset the carbon generated. It will utilize the support of accredited organizations with specialty in offsetting and sequestration of carbon.
- The third phase assesses the carbon generated through business activities conducted by Crypto.com that exclude trading. They include activities such as marketing activities, workplace services, business travel, etc.
After completing the assessment, the figures will be added into Crypto.com’s carbon offsetting and sequestration program which will reportedly offset more carbon than what’s generated.
Besides, a third-party auditor will be required to offer accountability to Crypto.com’s customers and the broader public.
Crypto.com’s Intentionality Towards Climate Change
In trying to resolve the climate crisis, becoming carbon negative is a major step Crypto.com is taking.
Two months ago, the Crypto.org Chain was released to the public following over two years of research and development The Crypto.org Chain is a fully decentralized blockchain that is built on the Proof of Stake (PoS) model, which reportedly over 90% more energy-efficient than Proof of Work (PoW) blockchains. The first two use cases that were released in Q2 2021 are emission-free NFT Minting, as well as, support for the migration of Ethereum (PoW) based protocols via the Crypto.org Ethereum Virtual Machine (EVM) Chain.
Kris Marszalek, co-founder and CEO of Crypto.com said: “The climate crisis is the most pressing issue of our time… Committing to becoming a carbon negative company is just the beginning of our efforts. As we further invest in building out the Crypto.org Chain Ecosystem we will offer the industry a path towards clean crypto.”
About Crypto.com (CRO)
Crypto.com was created in 2016, set out with the vision of helping the public gain control of their money, data, and identity. The cryptocurrency company is headquartered in Hong Kong with a team of over 900 personnel. Crypto.com is reportedly built on a solid foundation of security, privacy, and compliance. It is also the first cryptocurrency company in the world to have ISO/IEC 27701:2019, CCSS Level 3, ISO27001:2013, and PCI:DSS 3.2.1, Level 1 compliance. The platform was also awarded a Tier 4 rating; the highest level, for both NIST Cybersecurity and Privacy Frameworks.
Before now, Popular chain-agnostic platform, Cartesi (CTSI) announced that CSTI will be listed on the Crypto.com exchange. The announcement also stated that the Crypto.com exchange platform and mobile app will give access to their 10M+ users.
As of the time of publication, Crypto.com Coin’s price was $0.115123 with a 24-hour trading volume of $77,436,310. CRO price also fell by 3.32% over the last 24 hours. Besides, it has a circulating supply of 25 Billion CRO coins, as well as, a max supply of 30.3 Billion.
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