Slowly but surely, the Amazon rainforest is disappearing in front of our very eyes. Over 20% of the rainforest has been lost already, and an extra 15 football fields of nature disappear every 15 minutes. This is only one example of the actions society needs to undertake to address climate change. Moss, as a global environmental platform, aims to combat this decline through blockchain technology.
Taking Action While we Can
It is a well-known fact that something needs to be done to save our planet from irreparable damage. It will be a matter of years before the point of no return is reached at the current rate of decline. Current estimates by scientists indicate this can happen as early as 2050. There is still some respite, but the sooner people act, the better.
Solving this problem requires a unique approach and out-of-the-box thinking. Moss is in a good position to make a difference, as it is the largest global carbon credits platform. Its focus on using innovative technology may offer a viable solution to which anyone in the world can contribute.
The Moss Progress so far
Using blockchain technology to tokenize carbon credits may seem strange at first. Simultaneously, this novel approach ensures both consumers and corporations can offset their carbon emissions if they desire to exert that option.
Even though this process was only introduced in Q1 of 2020, there has been a lot of interest in what Moss brings to the table. Moss is currently the leading global voluntary carbon credits in the world. The team has forged core partnerships to acquire a 20% global market share in this industry, resulting in unprecedented growth.
In terms of volume, Moss recently surpassed the threshold of buying and selling 900,000 tons of CO2. A more than respectable amount for a relatively young venture. At the same time, there is still a lot of work to be done. Dozens, if not hundreds, of conservation efforts, can benefit from this blockchain-based revamp of the carbon trading industry.
Anyone can participate in this mission by obtaining the MCO2 token. Currently listed on Brazil’s FlowBTC exchange, the token is attracting attention. Perkins Cle and CertiK have also audited it. Further audits by EY and Armanino are currently underway, with results expected soon.
The Purpose of MCO2
Tokenizing carbon credits can lead to some unusual use cases. Making it easier for consumers and corporations to compensate for their carbon emissions can make a difference down the line. To date, over $10 million in proceeds has been contributed to Amazon forest conservation efforts. As more projects are added to Moss’s ecosystem, many goods can be done in the years to come.
More importantly, $10 million is a milestone for these conservation efforts. Up until now, no private party has pledged so much money to Amazon forest conservation projects. Moss is the first one to do so. None of this would have been possible without the use of blockchain technology. It allows for an analog and inefficient industry to be transformed into a crucial aspect of the global economy.
The tokenization of carbon credits serves a secondary purpose. The MCO2 token acts as a more secure and transparent way of conducting carbon credit transactions. Leveraging blockchain technology for this purpose creates a stable foundation to keep building on toward the future.
More importantly, it also allows for integrating MCO2 and its carbon-offsetting purpose into other blockchain products and services. In this modern era, distributed ledger technology has the potential to address many inefficiencies. The carbon trading industry is just one example.
At the time of writing, MCO2 has a market cap of nearly $40 million.
Creating a Future for Carbon Credits
Speaking of the future, Moss’s team wants to enable innovation and the development of carbon credits-related applications. What those applications will look like has yet to be determined. As the MCO2 token is issued on the Ethereum blockchain, it can be incorporated into other projects with relative ease.
Additionally, Ethereum’s ecosystem provides access to smart contracts and decentralized applications. As these tools gain more recognition, it becomes easier to interweave different products and services. This may result in new use cases for these tokenized carbon credits for both consumers and small businesses.
Conclusion
Unlike most tokens that exist in the cryptocurrency world, MCO2 was never created with speculative value in mind. Instead, it is a powerful tool to help modernize carbon credit offsetting and allow anyone in the world to partake in these efforts. Although it is only traded on the FlowBTC platform today, the team has confirmed that global trading platforms will soon roll out support for MCO2.
For the Moss team, MCO2 embodies utility, programmability, and composability. The team has gained a dominant global position and done something no one else has been able to. It has taken years to get people interested in carbon credits, yet the industry never allowed new entrants to make a difference. That situation has now changed for the better.
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