university, Yale openlab, will be utilizing the Social Alpha Foundation grant
to develop a carbon emissions tracking tool.
Social Alpha Foundation is a non-profit, grant-making platform which
provides funding to companies using blockchain.
This is a joint initiative between the Yale Business Centre for Business
and the Environment and the Tsai Centre for Innovative Thinking at Yale.
Foundation was founded in 2017 by Nydia Zhang and Jehan Chu. Its main focus is supporting blockchain
education and aims to reach as many people as possible. SAF provides funding to companies with no
strings attached and strives to educate communities about blockchain.
The founder of the Yale openlab and Innovator-in-Residence at the Tsai Cnetre, Martin Wainstein, PhD, said: “Climate change is a global issue that requires immediate attention. Our Earth’s atmosphere can hold a limited amount of CO2 emissions before the global average temperature rises above levels deemed as safe for humanity. At present, if emissions continue to be left unchecked, our limited carbon budget could be consumed in as little as 15 years. This challenge requires people and organisations to collaborate at an unprecedented scale, and reimagine traditional business models and paradigms.”
The grant will support two of Yale openlab’s
continued, “The Paris climate agreement has set the world on a path to zero
emissions by 2050, but we lack the global tools that can help us track our
environmental actions in a trustless and competitive world. We believe a
constellation of blockchain technology, data oracles, and internet-connected
sensors under open source protocols and standards may provide the fabric for
globally trusted procedures to emerge, and we are immensely grateful to Social
Alpha Foundation for allowing us to inspire and educate the next generation in
how to apply blockchain capably and ethically for environmental impact.”
Co-founder and Chairman of Social Alpha Foundation, said: “Yale openlab’s
unparalleled expertise in climate change research, longstanding credibility at
the governmental level, and its open innovation framework means new ideas,
products, and services will be conceived in a transparent and shareable, rather
than proprietary, format. We look forward to seeing how Martin and the Yale openlab team will
leverage blockchain and distributed ledger technologies to enable collaborative
projects which are part of this emerging third wave of the internet, and how
this will positively impact the environment.”
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