DAO & environmental protection
Let’s find out more about DAO, and how it can be put to use for environmental protection. We would like to share with you some projects that are using technology to prevent or slow the climate crisis. But first, let’s get through the basic terms, and what’s new when it comes to carbon footprint in the evolution of DAO.
What is DAO?
DAO is a digital Decentralized Autonomous Organization and a form of investor-directed venture capital fund. Launched in 2016 as a result of a successful crowdfunding campaign. The key feature of digital currencies is that they are decentralized. It means they are not controlled by a single institution like a government or central bank, but instead are divided among a variety of users, networks, and nodes. Thus, the level of privacy and security is potent in contrast to standard currencies and their transactions.
Ethical DAO
Like any technology, DAO can also help with the preservation of natural resources, reducing carbon footprint, and other pressing matters. However, in mainstream media, the discourse focuses on the power-consuming mechanism of proof-of-work (PoW) that some cryptocurrencies (Bitcoin) are still relying on. They may consume as much electricity as a small country, but blockchains are evolving. There are now more energy-efficient tools e.g. proof of stake (PoS) that encourage some of the cryptocurrencies to shift towards (Ethereum). All in all, we found some DAOs projects worth checking out. All of them concern environmental ethics.
Examples of ethical DAOs
ethanks
ethanks allows people to be rewarded for their good actions and to receive ethanks tokens based on the donations made towards non-profit organizations. The project is based on the tnks token, created to reward people for their social cause’s support. All the ethanks in circulation will be generated by donations made within the ethanks platform.
KlimaDAO
They say it’s financial activism for the climate. By increasing access and demand for carbon offsets, we make pro-climate projects more profitable, while forcing companies to adapt more quickly to the realities of climate change.
The basic idea of CarbonDAO is to use this decentralized revolution for rebuilding financial infrastructure all over the world. Additionally, they would like to make the environment a beneficiary, not a victim. CarbonDAO connects the Voluntary Carbon Market (VCM) and smart contract-enabled public blockchains.
This Network is a blockchain platform for soil regeneration. They claim it’s infrastructure for the climate crisis. You can register a project as Land Steward or purchase credits via the blockchain.
For all of you curious people, we wrote more. Check out our blog post about NFT.