Cardano and HUH Token are planting trees, while Brazil has reached its highest level of deforestation in 15 years
from Analytics Insight
January 14, 2022
With data from the National Institute for Space Research recently showing that deforestation in Brazil’s Cerrado region and the Amazon has reached its highest level since 2015, the Brazilian government announced that it would end monitoring. The decision was blamed on a lack of funds, and environmentalists around the world were angry at the move that appeared to cry out for government negligence.
The decision is believed to be related to the signing of an international pledge by President Jair Bolsanaro to end deforestation by 2030 at COP26, which took place between October 31 and November 12, 2021. As deforestation increases during Bolsanaro’s rule, maintaining the Brazilian trees would put an end to the commercial opportunities previously approved by the president. Deforestation is also a disproportionately high threat to the Brazilian indigenous communities. These tribes rely entirely on the forest for their needs for food, medicine, and shelter.
Although cryptocurrencies have gained momentum over the past year, they carry the negative climate change connotation passed on to them from their founding father – Bitcoin. At a time when climate change is of growing concern, Bitcoin’s enormous energy consumption, which has been equated with Norway’s annual consumption, has come under fire. Elon Musk withdrew his own bitcoin investments amid the worrying issue and is reportedly working with the Dogecoin developers to make the memecoin greener. Given Musk’s colossal impact on the crypto market, altcoins are competing to go greener to escape the stigma of Bitcoin and attract more investors.
Two of the largest cryptocurrency reforestation initiatives are those of Cardano and HUH Token. Both run on proof-of-stake networks, which are a more environmentally friendly alternative to mined cryptocurrencies. Cardano is committed to this cause and has set up its own charitable foundation (aptly called The Cardano Foundation). According to its website, the foundation aims to pave the way for decentralized economic empowerment by working with regulators in different jurisdictions to define blockchain legislation and commercial standards, while also enabling the Cardano community to use the Cardano protocol to use to address real-world challenges.
The Cardano Foundation recently achieved its first goal of planting 1 million gates. Frederik Gregaard, CEO of Cardano, stated on Twitter that the afforestation initiative aims to help restore land and improve the local ecosystem. With a focus on Kenya, all trees planted are to be recorded in the Cardano blockchain in order to increase transparency and to serve as public evidence of these activities.
Meanwhile, newbie HUH Token has done things a bit differently by teaming up with Eden Reforestation Projects. Eden takes a bottom-up approach and engages local communities, often suffering from extreme poverty, in a number of countries, including Brazil, to plant and care for trees. Eden works on the coast, the Amazon and Cerrado. For the Cerrado, Eden is reforesting land that has been devastated by massive agricultural fields and slash and burn. In addition, Eden seeks to prevent desertification in Brazil’s “water tank” that feeds the Amazon and other reservoirs.
Needless to say, Cardano and HUH tokens have set high standards for the rest of the crypto market. As the climate crisis approaches humanity at an accelerating pace, investors will begin to prioritize crypto, which frankly gives priority to our ecosystem. The question is, will other cryptos follow suit and start their own eco-positive initiatives?
Information about the HUH token can be found here:
HUH Official Exchange https://swap.huh.social/
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Analytics Insight is an influential platform dedicated to insights, trends and opinions from the world of data-driven technologies. It monitors developments, recognitions, and achievements of artificial intelligence, big data, and analytics companies around the world.
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