Filecoin Green has reportedly took the leading position in a new project to operate Web3 technology with verifiably clean energy. 

Specifically, Protocol Labs project reportedly works towards the goal of bringing down environmental impacts of FIlecoin and make it verifiably sustainable. 

Per the announcement, the firm is set to tackle the shortcomings of traditional carbon storage solutions via “marrying blockchain’s granular tracking functionality with the information-sharing infrastructure of Web3.”

Filecoin Green reportedly rolled out CO2.Storage, a Web3 data storage solution with a primary objective of allowing transparency for carbon offsets, as well as dealing with traditional storage solutions for all types of digital environmental assets, including renewable energy credits.

As included in the scope of the project, Filecoin Green reportedly claimed that it has teamed up with numerous firms having associations with tokenizing carbon offsets, nominally Toucan, Thallo, Ripple, the HBAR Foundation, Envision Blockchain, Return Protocol and Gainforest. 

The data storage solution will make it possible for carbon credit providers to establish definitions of their own data schemas and store this data via content-addressing on Filecoin and the InterPlanetary File System, consequently forming a transparent system for carbon credits.

Carbon emissions and carbon credits have turned into a prominent topic, with traditional organizations and governing agencies are starting to view blockchain as an appropriate tool for bringing down carbon emissions.

In 2021, the United Nations Environment Programme and other governing bodies convened at Middle East and North Africa Climate Week to run examination regarding blockchain’s potential in dealing with climate change.

Previously, organizations across the crypto sphere are also planning to enhance the ecosystem via blockchain-tracked donations to carbon removal initiatives, tokenized carbon credits and carbon-neutral blockchains.