Carbon Sequestration-Based Cryptocurrency

Description

Gustav Peebles and Ben Luzzatto:

""We know that we need to actively remove carbon from our atmosphere; mitigation alone (i.e., reducing carbon footprints) will not be enough. The creation of a digital currency (a so-called “stablecoin”), which would be backed by solidified and safely-sequestered carbon that has been “mined” by a global army of prospectors, could serve as a vital step in this removal process. Based on the arguments we make below we believe that such a currency is possible and that providing it would activate a broad swath of hopeful people who are already motivated to fight climate change but have felt largely powerless to do so. Instead of feeling hopeless as they watch governments and industries continually fail to solve our looming crisis, the introduction of a new currency and new technology would, we argue, be able to meaningfully contribute to a global solution." (http://www.publicseminar.org/2019/09/more-precious-than-gold/)