Blockchain for Sustainability Newsletter #33
Blockchain for Sustainability Newsletter #33
New Projects, Funding updates, and Industry Events
Blockchain for Sustainability Impact
Success Story
We would like to start this newsletter by highlighting an enterprise blockchain project that has turned into a success story by positively impacting multiple sustainability dimensions. In 2019, Greiner Packaging and Plastic Bank came together in their fight against plastic waste that enters the oceans. Since then Greiner Packaging has supported the launch of five Plastic Bank collection sites in Manila, Philippines. This has resulted in the collection of 331.5 tons of plastic waste, which is equivalent to 16.5 million plastic bottles. Plastic Bank uses a blockchain-based platform to record collections by Ocean Stewards and secures their payments, incentivizing them to collect more plastic. So while this initiative is preventing plastic from entering the oceans, it is also creating a steady supply of recycled plastic material for use by the packaging industry, and at the same time contributing to the socioeconomic well-being of the community in the Philippines. The success of this project has prompted Greiner Packaging to extend its relationship with Plastic Bank in November 2022. | more
New Projects
Climate Action
Carbon dioxide is among the most important commodity that governments and corporations should be worried about. While governments around the world are imposing aggressive taxes and fees on carbon emissions, the price of carbon is not being decided by any global free market, and this acts as a hindrance to the funding of sustainability projects. Therefore, efforts must be made to design indices that represent global production, consumption, and trading of carbon. At the same time, consumers should be allowed to offset the carbon footprint of products that they are buying. Some of the Climate action projects this week are focusing on these topics.
Companies Involved: IMPT, Nike, Gamestop, nChain, NAGEX
Carbon Credits on the Blockchain? New Sustainable Crypto Adds Nike and GameStop as Affiliate Partners | more
nChain Signs Agreement With NAGEX to Develop Blockchain-Based Carbon Exchange Platform | more
Responsible Supply Chain
Ensuring supply chain traceability and transparency in apparel and textile industries is a challenge, especially when they are sourced from countries that have a questionable track record when it comes to human rights and health and safety. Similarly, the luxury apparel industry is also known to be largely opaque when it comes to its supply chain. However, some responsible brands are taking initiatives that are providing transparency in their supply chain using blockchain-based platforms.
Companies Involved: Beximco, FibreTrace, Monica Vinader, Ennovie, Topl
Beximco opts for Verified transparency | more
Monica Vinader launches passport pilot to enhance traceability | more
Waste Management
Waste management and recycling are increasingly getting deserving attention from corporations around the world, driven by increasing awareness and strengthening regulatory requirements. Electronic waste or e-waste is a problem for all companies involved in the digital economy. This week we have identified projects that are using blockchain-based solutions to improve recycling and waste management.
Companies Involved: Advanced Info Service Plc (AIS), Thailand Greenhouse Gas Management Organization (TGO), Denso International Asia (Thailand), Chulalongkorn University, Thammasat University, Ngern Tid Lor, Government Savings Bank, Kasikornbank.
AIS joins e-waste initiative | more
Sustainable Investing
In order to address the various sustainability challenges, solutions that leverage emerging technologies must be embraced. However, technology and sustainability-focused start-ups face challenges in raising funds, due to their highly innovative business models and lack of predictability. Therefore, dedicated investment hubs that facilitate transparent fundraising using blockchain-based platforms are required.
Companies Involved: WAHED, LBank
LBank Exchange Will List WAHED Token | more
Biodiversity
Manufacturing of wooden furniture creates a significant negative impact on biodiversity, therefore, ensuring proper use and longevity of wooden furniture is essential to reducing this negative impact. Tracing furniture lifecycle digitally on the blockchain can inspire consumers to ensure proper care, repair, and recycling of the furniture.
Companies Involved: SPACE10 (IKEA), WINT Design Lab, Zünc
This Unique Nft Concept Cares For Our Physical Furniture To Help Us Stay Sustainable | more
Funding Updates
Recent Fundraising Activity
Cyvers: Keeping the web3 infrastructure secure proactively is extremely important infusing trust in decentralized and smart contract-based applications and for wider adoption, of web3 technologies. An AI-based security startup that offers real-time detection and prevention of crypto threats for Web3 and a decentralized economy, has raised an $8 million funding round. The round was led by Elron Ventures and was supported by other investors including Crescendo Venture Partners, Differential Ventures, HDI, Cyber Club London, and Cyber Future. | more
Varaha: India-based climate tech startup Varaha, which operates across six Indian states, has secured seed funding of $4 Mn in a round led by Orios Venture Partners. The funding round also saw participation from Omnivore, RTP Global, Better Capital, and CRED founder Kunal Shah. The company will use the fresh funds to hire talent and expand its operations across South Asia. | more
Ureca: Singapore-based climate tech firm Ureca said it has raised US$1.5 million in pre-seed money. Launched in Mongolia, Ureca is working on a blockchain-powered carbon credit marketplace. By using blockchain tech, it can provide transparent and accessible transactions for carbon offset certificates. The company will use these funds to scale its operations across Southeast Asia and accelerate the launch of its marketplace. | more
Urbie: UAE-based start-up Urbie, is focused on purifying indoor air using blockchain, biotech, and crypto. It allows users to earn green crypto coins based on the number of hours of purification. These coins can be used to plant trees, and build water wells in an effort to curb the negative impact of climate change. The company is currently fundraising on Eureeca for its $250,000 round. | more
M&A
Axsess Acquires Carbon.Credit | more
Carbon.Credit is a marketplace exchange for carbon credits, energy contracts, and other asset-backed securities that are tokenized on a blockchain. It has been strategically acquired by Axsess, an innovative fintech company with proven experience in trading systems, building marketplaces, and exchange technology. This will allow Carbon.Credit to provide secondary market trading on carbon, and environmental assets.
Upcoming Events
World Crypto Conference: 13-15 January 2023, Zurich, Switzerland.
Keynote speech from the most prominent women leaders in the web3 industry celebrating active women participation in the industry
ICIOTBB 2023: 17th International Conference on Internet of Things Based on Blockchain: 16-17 January 2023, Zurich, Switzerland.
Paper discussion on patient health record data securely shared through IoT and blockchain and using blockchain to extend the vendor-managed inventory for sustainability.
Female Disruptors: 18 January 2023, Online.
Celebrating women's participation in metaverse, NFTs, and web3.
Fintech Retreat: 30 January 2023, SF, United States.
Session on responsible innovation from the founder of The Association of Women in Crypto.
CariNext 2023 - Caribbean Blockchain & Tech Summit: 30 January- 2 February 2023, Bahamas.
Keynote on sustainability in the blockchain industry. Specifics are yet to be decided.
Blockchain Solutions World: 30 January- 2 February 2023, Barcelona, Spain.
Session on blockchain and AI in healthcare, agriculture, and food industry, climate crisis, decentralizing energy & utilities, making Public Health more effective, building trust and transparency in manufacturing, supply chains, transport and logistics, and more.