Ripple has added its voice to the ongoing crypto sustainability pool by announcing that it aims to reach net zero carbon by 2030. It has partnered with several sustainability leaders to achieve this goal.
in a tweet Shared on May 15, Ripple (XRP) linked to a post on their website. The page described a number of aspects of their environmental strategy. This included a list of their partners, which already includes the Bill & Melinda Gates Foundation, Mercy Corps, the Mojaloop Foundation, and the Institute for Business and Social Impact.
Overall, Ripple has NGO partners in more than 80 countries.
Now, sustainability leaders such as the Renewable Energy Buyers Alliance (REBA), the Energy Web Foundation and Watershed have joined their ranks. The page also explains:
“Our current global financial system is not meeting the needs of the 1.7 billion unbanked people.” Digital assets and distributed ledger technology (DLT) have the potential to transform how the unbanked population access essential financial services and send and receive money across borders, making them more Easy to access, affordable and safe.”
The report on the website also notes how green XRP has impacted, compared to the leading cryptocurrencies Bitcoin (BTC) and Ethereum (ETH). More specifically, XRP only uses 63,000 gallons per 100 million transactions. Meanwhile, BTC uses approximately 4 billion gallons per 100 million transactions. ETH uses another 239 million gallons.
Sustainability and coding
The environmental effects of cryptocurrencies have been the subject of much controversy in recent weeks. Not least in light of Elon Musk raising the issue of the fossil fuel emissions incurred by bitcoin mining.
The entrepreneur has taken such a strong stance on this issue that he has suspended BTC as a currency option for purchases at Tesla. This decision led to a rapid drop in the price of BTC, as it fell below the $50,000 threshold.
However, Musk’s decision was not met without criticism. Tim Draper, for example, noted that the current banking system has caused its share of environmental issues. The global investor suggested that, according to Musk’s philosophy, he should stop accepting fiat currency purchases as well.
Meanwhile, other countries are taking other measures to protect the environment from bitcoin mining. On May 15, it was reported that Iranian authorities would impose fines on anyone caught mining household electricity.
Other updates on XRP
It’s an eventful time for Ripple right now. As a pending case against the US Securities and Exchange Commission (SEC) continues. the Next big event In the case scheduled for May 17, mainly about the John E. Deaton Intervention Movement. Deaton is due to respond to Ripple and the Securities and Exchange Commission’s positions on his proposal. The Securities and Exchange Commission will also respond to Ripple’s position on the intervention movement.
But it’s not all bad, as on May 16, data indicated that XRP rose by 12% in a 24-hour period. XRP is currently ranked as the 5th most valuable cryptocurrency by market capitalization.