Digital Asset Exchange OKX Joins Ethereum Climate Platform to Foster Sustainability
OKX Ventures, the investment arm of cryptocurrency exchange OKX has joined the Ethereum Climate Platform (ECP) to partner towards sustainable climate goals.
In a Dec 6 press release, the company announced the decision to join the platform and highlighted plans targeted to decarbonize the web3 ecosystem amid recent climate reports on the sector’s energy usage.
According to the release, the firm in partnership with the exchange team plans to utilize advanced technology to expedite the decarbonization of blockchains and support more sustainable energy use in mining and trading-related activities.
“OKX Ventures, with the support of the OKX Web3 team, joined a coalition of companies dedicated to expediting decarbonization and amplifying climate action through the deployment of cutting-edge technology and the cultivation of digital environmental assets.”
In reducing greenhouse gases and increasing climate benefits, the company cited its approach using proof-of-reserves to track and validate on-chain as a way of lowering emissions.
OKX now joins big technology corporations like Microsoft, Polygon, and the Near Foundation to collaborate in climate action towards web3 firms.
Industry executives continue to support recent climate initiatives to pivot to renewable energy solutions like the setting up of solar-powered Bitcoin mines and switching to immersion cooling systems.
