Ripple partners with Rocky Mountains Institute (RMI) to launch Centigrade, an open data platform to transform carbon markets and fight climate change.
In a recent tweet, Ripple announced a groundbreaking partnership with the Rocky Mountain Institute (RMI) to revolutionize the global energy landscape and tackle climate change head-on.
The two entities proudly revealed their role as founding partners of Centigrade, a pioneering open data platform set to transform carbon markets. According to Ripple, Centigrade is poised to bring transparency, trust, and integrity to these markets, driving the evolution toward a clean and zero-carbon future.
Ripple and @RockyMtnInst are proud founding partners of @CentigradeEarth —a new open data platform that brings increased transparency, trust, and integrity to carbon markets.
Centigrade powers the next evolution in carbon markets: https://t.co/zI1kyQg55m
— Ripple (@Ripple) August 7, 2023
Centigrade echoed this sentiment in a tweet, highlighting its launch as a pivotal moment for the voluntary carbon market. With the support of Ripple and RMI, Centigrade aims to foster greater trust and engagement within the market, thereby encouraging more active participation and collaboration.
Ripple Chairman Reacts
Chris Larsen, the Co-founder and Executive Chairman of Ripple, weighed in on the significance of Centigrade’s launch. Larsen emphasized the crucial role that the voluntary carbon market plays in combatting climate change. Additionally, he applauded Centigrade for addressing the need for an overdue upgrade in the market’s infrastructure.
The voluntary carbon market is a key component to fighting devastating climate change…but has been long overdue for an upgrade. Congratulations to @CentigradeEarth on today’s launch! https://t.co/i8549h72wi
— Chris Larsen (@chrislarsensf) August 8, 2023
Centigrade
Ripple’s official blog provided further insights into the collaboration. It noted Centigrade as a collaborative effort between Ripple and RMI to introduce an open data platform catering to global carbon markets.
This platform aims to empower carbon and nature credit developers by providing an accessible pathway to bring their projects to the public. The platform seeks to open credit markets to developers of all sizes and locations, facilitating the growth of carbon removal projects.
The motivation behind Centigrade’s creation is clear. The report highlighted that while carbon markets can fight against climate change, they have been hindered by confidence, efficiency, and scalability challenges.Â
Moreover, it mentioned the existing market’s lack of quality supply and outdated mechanisms have hampered its ability to reach its full potential. Additionally, the narrow focus on carbon has overlooked the diverse range of climate-positive activities across various natural elements.
Centigrade seeks to address these challenges by proposing innovative solutions.Â
With Ripple’s active involvement, Centigrade aspires to create a vibrant and dynamic carbon market that delivers on its environmental and economic objectives.
Role of BlockchainÂ
Furthermore, the role of blockchain technology in this transformative endeavor is evident. Ripple envisions blockchain as a catalyst to propel global nature markets toward their full prospect.Â
Ripple noted that its blockchain technology solution, the XRP Ledger (XRPL), has achieved net zero status in carbon emission through renewable energy.
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