GBBC Commends Ripple’s XRP Ledger For its Low Carbon Footprint

Crypto Analyst Predicts XRP Price in the Next 2 Years; Here’s How?

Ripple has been recognized by the Global Blockchain Business Council (GBBC) for being at the forefront of the push toward a more sustainable future by leveraging XRP Ledger (XRPL) as the foundation for its products and services. The council lauded Ripple’s XRPL as the world’s first major carbon-neutral blockchain.

According to the most recent annual report from GBBC, “Ripple uses the XRP Ledger (XRPL), the world’s first major global carbon-neutral blockchain (since 2020), as a foundation for its products and services.” 

With over 200 ambassadors from over 100 nations and disciplines, the GBBC is the largest industry association for the blockchain technology and digital assets sector. It was founded in 2017. Notably, the development was first shared by @WKahneman in a recent tweet.

Related Reading: Security of XRP Asset Assured as Ledger Address Live Application Error

Ripple’s Efforts to Achieving Carbon Neutrality by 2030

The company has been working to reach this objective earlier than anticipated since Ripple declared its intention to become carbon neutral by 2030. Through its $100 million pledge to address the carbon problem, the largest one made in the cryptocurrency industry to date, Ripple has further proven its dedication to a low-carbon future.

The report claims that Ripple has proven its dedication to reducing climate change by working with organizations like the Alliance for Innovative Regulation (AIR). The blockchain company has collaborated with these organizations to push the cryptocurrency sector toward net-zero emissions and 100% renewable energy utilization.

In May last year, Brad Garlinghouse, CEO of Ripple, stated that this fund was a “direct response to the global call to action for companies to help address climate change.” He stressed further the importance of carbon markets for meeting climate targets and how blockchain technology and cryptocurrencies may improve these markets by bringing more liquidity and transparency.

Ripple has previously suggested “tokenization” as one of the most effective approaches to combat climate change. According to the company, businesses can perform transactions that lead to more accurate prices and fair returns for suppliers, advancing climate goals by employing tokenization and decentralized governance.

Read Also: Understanding Deaton’s Perspective on Why Ripple Might Settle Even After Winning Against SEC

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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