With technology a key focus at COP26 in Glasgow , blockchain is taking some major sustainable strides . Blockchain for Climate Foundation launched the BITMO Platform , an innovative tool to help countries achieve their climate goals . The platform allows signatories to the Paris Agreement to issue and exchange carbon credits as non-fungible tokens ( NFTs ) on the Ethereum blockchain , and enables a quick start of international carbon trading under the Agreement .
With the emphasis on digital transformation and environmental protection , blockchain and sustainability are both in fast-forward mode .
October saw Ethereum notch 40 % in gains , and hit a market cap six times the size of the second-largest altcoin , Binance Coin . Analysts from Goldman Sachs are predicting that Ethereum could rally by 80 % to reach $ 8,000 .
While blockchain technologies are still in their infancy – and questions remain about security , scalability , and governance – blockchain ’ s ‘ trustless ’ transactions ruled by incorruptible algorithms give it enormous potential in a sector historically encumbered by myriad trading and clearing systems , according to McKinsey .
“ Be it through lower barriers to entry , more efficient power allocation based on
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