Secretariat Under UN Agreement to Reward Users for Climate Action With Crypto
Helen Partz's original article for cointelegraph.com reduced by 42%
A climate change initiative of the United Nations signed a Memorandum of Understanding with blockchain firm W-Foundation to collaborate on climate action, according to a press release shared with Cointelegraph on May 16. In accordance with the new MoU, the Secretariat of the UN Framework Convention on Climate Change will work with South Korea-based W-Foundation to promote global climate action projects, including compensation of greenhouse gas emissions by using rewards in cryptocurrency. Specifically, the recent MoU mainly focuses on implementing the W-Foundation's blockchain application HOOXI, which is a blockchain-based gaming and mobile social network.
Available on iOS and Android, HOOXI app encourages people to take climate action on greenhouse gas emissions reductions in exchange for mission points that are used for a competitive ranking the users. The UNFCCC Secretariat and W-Foundation started working together on the initiative back in November 2018. The Secretariat first revealed its plans to use blockchain tech for climate change action back in 2017, as reported by Cointelegraph.
Recently, British car manufacturer Jaguar Land Rover announced its plans to use the Iota blockchain to reward drivers with crypto for data reporting.
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