- Uphold exchange highlights Ripple and RMI’s partnership to establish Centigrade.
- Centigrade is a carbon-focused firm that aims to bring accountability to carbon markets.
- Ripple envisions blockchain as a driving force in propelling global nature markets.
In a recent tweet, Uphold, a U.S.-based exchange known for supporting XRP, spotlighted Ripple’s recent endeavor into combatting climate change.
The exchange mentioned to its community on X that Ripple entered a new partnership to establish Centigrade, a carbon-focused firm. Aside from being founder partners, Uphold highlighted that Ripple would operate as an investor in the climate change initiative.
Early this month, Ripple and the Rocky Mountain Institute (RMI) announced undertaking a significant collaboration towards reshaping the global energy landscape. The collaboration gave rise to Centigrade.
This newly established firm aims to usher in a new era of transparency and accountability within carbon markets. The ultimate goal is to accelerate the transition toward a cleaner, zero-carbon future.
Furthermore, the press statement noted that Centigrade’s core objective is to empower carbon and nature market developers. Centigrade will give the developers an accessible avenue to showcase their projects to the public.
Moreover, the report emphasized the persistent challenges of carbon markets, including efficiency and scalability. It noted that the existing market’s shortcomings in quality supply and outdated mechanisms have impeded its full potential. Centigrade seeks to transcend these obstacles by introducing innovative solutions.
Notably, the integration of blockchain technology was also a focal point in the carbon initiative. Ripple foresees blockchain, particularly its XRP Ledger (XRPL) solution, as a driving force in propelling global nature markets toward their maximum potential. The company highlighted that its blockchain technology has achieved a net-zero carbon emission status by using renewable energy sources.
Meanwhile, amid Ripple’s continuous development endeavors, an XRP enthusiast sees hidden potential in XRP, given its association with Ripple.
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