XRP Ledger To Become A Carbon-Free Powered Blockchain

Ripple and XRP have been making headlines a lot this year despite the global crisis.

Ripple has been working really hard to boost the XRP ecosystem and also to push the mainstream adoption of the digital asset XRP.

XRP Ledger to become one of the first carbon-free blockchains

Now, it’s been revealed by more crypto outlets that the XRP Ledger is about to become one of the first carbon-free blockchains.

This was revealed the other day by the XRP Ledger Foundation, Ripple, and Energy Web.

It’s been reported that the Foundation has purchased energy attribute certificates (EACs), similar to renewable energy certificates (RECs) in order to cover the power used by the network for the next year.

It’s also important to mention the fact that the certificates funnel money to renewable energy providers, and they subsidize their electricity generation.

“With this announcement, we’re turning the ‘blockchains use too much energy’ issue completely on its head by converting entire blockchain networks into direct investors in zero-carbon renewables,” according to Walter Kok, CEO of Energy Web, the renewable energy blockchain organization.

The XRP Ledger Foundation is a new organization that has been set up last week in order to support the Ledger’s functioning.

Ledger Insights online publication notes that “we’d speculate that one of the reasons for creating the Foundation is to demonstrate that Ripple doesn’t control XRP.”

Ripple is working to connect financial institutions

In other news, it’s been just revealed that Ripple appears to be working to connect a long list of financial institutions through a digital matchmaking effort.

As you probably know by now, Ripple is focused on connecting financial institutions in order to boost the crypto-based payments network, ODL.


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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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