Blockchain for Sustainability Newsletter | #31
New Projects, Funding updates, and Industry Events
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With COP 27 underway at Sharm El-Sheikh, Egypt, Climate Action is top of everyone’s mind and its importance cannot be emphasized enough. In line with this sentiment, we saw several important projects announced in different parts of the world, by small and big companies. While tokenizing carbon credits remains the primary theme where blockchain-based solutions are helping sustainability solution providers, bringing existing data oracles on-chain to create on-chain carbon marketplaces that can embed trust and transparency in carbon trading transactions. We also included an interesting project, where the blockchain-based solution is being used to store the oil industry’s GHG emissions.
Companies Involved: MetaVerse Green Exchange, Chainlink, Abu Dhabi National Oil Company (ADNOC), Siemens Energy AG, Envision Blockchain, HBAR Foundation, InfraBlocks Technologies, Asian Development Bank, and Druk Holding & Investments (DHI).
ADNOC, Siemens Energy to track carbon with blockchain ledgers | more
MetaVerse Green Exchange Partners with Chainlink to Connect Web2 and Web3 Carbon Markets | more
Newly Launched Service Enables Orgs to Mint Emissions and Offset Tokens to Reduce Fraud in the ESG Industry | more
InfraBlocks and DHI partner to launch a national carbon credit aggregation platform in the Kingdom of Bhutan | more
ESG initiatives have grown at a rapid pace over the past few years due to increased governmental pressure and consumers demanding sustainable actions. However, large-scale sustainability initiatives require significant capital investment. Although the legacy green financing market addresses this concern, the current financing gap demands a more secure, rigid, and autonomous environment, which blockchain can support. Some of the salient features of blockchain perfectly correspond to the current challenges faced by the green finance market, which is demonstrated in the project below.
Companies Involved: Prontoblock and EPIC ESG
Prontoblock and EPIC ESG Partner to Launch a DAO and Issue On-Chain Green Bonds to Finance Clean Energy Solutions | more
Preservation of the biodiversity-ecosystem is a crucial element for the well-being of everyone on the planet. This encourages corporations and communities to initiate sustainable measures concerning the protection and prevention of biodiversity like tree plantation. However, various companies find it difficult to keep the active involvement of participants, due to which the project doesn’t translate to the desired results. In addition to this, the traditional fundraising methods are too cumbersome to execute, creating friction in the fundraising operation. Blockchain can provide an interactive and immersive project experience, while also allowing companies to securely raise funds, which is demonstrated in the following recent projects.
Companies Involved: Dunamu, 2nd block, Kalta, Hendrikka Waage, and Ivy Cash.
Dunamu holds forest tending campaign on metaverse platform | more
Katla unveils new NFT collection for ocean regeneration | more
The mining industry has one of the biggest environmental impacts as compared with other industries, which makes ensuring sustainable mining a pivotal task for mining companies. Extracting, refining, minting, and transporting exerts a heavy environmental footprint, controlling which becomes difficult for these companies as they are the primary operations. Blockchain can help eliminate these operations by tokenizing the in-ground or un-mined metals, which is showcased in the following project.
Companies involved: TanzRoc Mining Group and Element United
Tanzanian Gold Mine Valued at Potential $400B Gives Exclusive Digitization Rights to Blockchain Startup Element United | more
Responsible Supply Chain
Supply chain traceability is crucial for a sustainable and efficient supply chain of any product. However, in industries like food and apparel, where supply chains can be extremely diverse and complex, companies can find it challenging to keep an eye on every aspect of their supply chain. This can allow intermediaries and corrupt actors in the supply chain, which ultimately compromises the profitability or sustainability of products in the supply chain. Blockchain can facilitate supply chain traceability in many industries by storing supply chain data safely and securely, which is demonstrated in the project below.
Companies involved: Fratelli Piacenza, Quadrans Foundation, and Truebit.
Platform leverages blockchain for product traceability in the textile and food industries | more
Financial Inclusion remains a widespread problem in many countries because financial institution feels that certain communities in the population are too risky to cover in financial services, like farmers due to uncertain weather conditions, making insurance premium expensive for farmers to afford. This can create a challenge in times of unforeseen circumstances. Blockchain paired with other emerging technologies like remote sensing can create an accurate flow of information, which can mitigate the risk and uncertainty of farmers’ insurance coverage, as demonstrated by the projects covered in the past two weeks.
Companies Involved: Igloo, PVI Insurance, Vietnam Meteorological and Hydrological Administration (VNMHA), SCOR, Shamba, and Chainlink
Igloo launches blockchain-based weather index insurance for rice farmers in Vietnam | more
Shamba Integrates Chainlink Oracle Technology to Protect Vulnerable Farming from Climate Change across Africa | more
Recent Fundraising Activity
Return Protocol: The developer of an environmental offsetting protocol for web3 wallets, enabling users to have an end-to-end automated offsetting system for transactions on their wallet. The company recently closed its Pre-Seed funding round, raising $2.5 million. The round was led by Cherry Ventures, and other investors include Blue Bear Capital, Possible Ventures, Allegory, and more.
Elusiv: The company enables users to send and receive crypto in a secure and private way, allowing users to fully enjoy their on-chain privacy. The company recently raised $3.5 million through a Seed funding round, co-led by Staking Facilities and LongHash Ventures, with other marquee angel investors also participating. The newly injected cash will be utilized to create an in-house development team and manage security audits. | more
project44: The company provides end-to-end supply chain traceability solutions, through leverages advance technologies. The company recently raised $80 million, pushing its valuation close to $2.7 billion. This round was co-led by Generation Investment Management and A.P. Moller Holding. Goldman Sachs, TGP, Emergence Capital, and many more also participated. The new funds will drive several key initiatives like measuring and mitigating supply chain emissions globally. | more
Dhiway: The provider of blockchain-based credentials, Dhiway enables companies to track their supply chain operations in a secure, easy, and replicable format. The company recently raised $1 million in a pre-seed investment round led by Cornerstone Venture Partner Fund, SUNiCON Ventures, and other undisclosed investors. The newly injected cash will enable the company to address market expansion and continuous strengthening of the product roadmap. | more
Funding Ecosystem News
Topl announced the launch of its first-ever developer grant program, which will fund designers, visionaries, and changemakers that are focusing on impact as a key driver while building solutions in the Web3 ecosystem. Topl will provide $500,000 in cash and $500,000 in tokens for projects built on Topl’s blockchain network. The sustainability and Impact of NFTs will be one of the key drivers for determining the winning projects. | more
Stat of the week
$2.41 billion is the amount raised by environment-focused tech companies through 121 capital raising rounds so far in 2022, according to GlobalData. While, this is much higher than mere $534 million raised in 2021. | More
Texas Blockchain Summit: 17-18 November, Texas, United States. Includes session on crypto energy consumption and ways to control it.
AIM Summit: 21-22 November, Dubai, UAE. Includes session on cryptocurrency energy consumption and how to handle it and mining crypto with a green footprint.
Next Block Expo - The Blockchain Festival of Europe: 23- 24 November, Berlin, Germany. Includes session on blockchain for sustainability and women's participation in the web3 community.
The Blockchain Revolution Italian Summit: 23- 24 November, Italy. The event covers the topic of the consumption and production of renewable energy using upcoming technologies including blockchain.
DCentral Miami: 28-29 November, Florida, US. Includes session on philanthropy using crypto by Philcoin, blockchain and AI in healthcare, and privacy in the blockchain ecosystem.
Algorand Decipher: 28-30 November, Dubai, UAE. Includes session on women participation in web3 and greener, safer, and more prosperous: how blockchain is delivering on “smart cities”.
Women Web3 Miami: 30 November- 1 December, Florida, United States. Includes session on ways and methods to break the glass ceiling for women participation in web3.
Puerto Rico: BUIDL HERE: 5 December, Puerto Rico, United States. Includes session on women in web3 and innovating community microgrids through blockchain.
Taipei Blockchain Week. 12-17 December, Taipei, Taiwan. Includes session on how to manage privacy and security in the blockchain ecosystem.
If you are attending or conducting a conference, event, or webinar that deals with blockchain for sustainability topics. Please submit the details to us at: firstname.lastname@example.org