Something needs to be done to address global climate change. Innovative technologies, such as a blockchain, can be of great value. Uphold is introducing Universal Carbon or UPCO2, a tradeable carbon token.
What is UPCO2 About?
It is a well-known fact that carbon trading is a very intriguing industry. Most people can’t access it, as it is designed for corporations and governments first and foremost. Uphold wants to change that narrative by introducing the Universal Carbon token, or UPCO2. An intriguing initiative and one that warrants a closer look.
What Universal Carbon does is allow users to trade carbon tokens on a public blockchain. Uphold claims it is the first token of its kind on a public chain, but that is not the case. MCO2 is a token that exists on Ethereum for several weeks now. It is also publicly tradable on FloWBTC, effectively beating UPCO2 to the punch.
That said, an effort like this deserves to be applauded. Introducing a new solution to trade carbon credit is a crucial development. Our world needs to find a way to restore, but that is much easier said than done. Finding a permanent solution to help our climate is not easy these days. Digitizing carbon credit trading will be an exciting experiment.
Users who obtain UPCO2 from Uphold make the world a cleaner place. This token is the product of a collaboration between the Universal Protocol Alliance and leading carbon credit managers. Certified REDD+ carbon credits back every UPCO2. Currently valued at $10.84, it may prove to be an exciting token to watch.
Looking Beyond Speculation
Contrary to most tokens created on blockchains, UPCO2 has no speculative value. It is designed to make the world a cleaner place by helping to preserve the planet’s rainforests. Initiatives like these are vital, and everyone is now able to participate in achieving a greener future.
Uphold aims to give its customers access to diverse assets. UPCO2 is a different asset class and caters to the needs of modern investors. Tradable carbon credits will always have some value, as it is a globally exchanged commodity. Through the Voluntary Carbon Credit market, people can make significant changes to our climate.
The price of UPCO2 is determined by the value of a Voluntary Carbon Unit. Demand for these assets is likely to rise, as many companies want to become carbon-neutral over the coming years. At the same time, demand may decline when economic hardship is in place. It is volatile yet cannot be considered to be a speculative asset.
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