Decarbbitcoin Labs, an environmental think-tank founded by the Community Electric Corporation, is taking a hands-on approach to fighting climate change in California and using Bitcoin (BTC) mining as its prototype.

Decarbbitcoin Labs builds on the California Environmental Rights program, whose mission is to protect communities suffering from disproportionate pollution, and is developing the first prototype in Los Angeles not only to remove carbon from society, but also to demonstrate sustainability. Bitcoin will be mined.

Austin Davis, co-founder of Community Electricity, told Cointelegraph that environmental sanitation communities across the state are receiving more than $ 1 billion to fund various carbonization businesses, including clean electricity for the real estate and transportation sectors. “These facilities represent lower costs and clean local electricity, and of course they reduce investment [the cost of capital] to sell assets,” he said.

Decarbbitcoin Labs brings all of these features together and uses them in a new strategy based on Bitcoin mining. Davis explained:

DecarbBitcoin Labs is implementing the first such prototype in Los Angeles that will extract 100% of green bitcoin in place of origin at a very competitive price for mining. The coupon will be 1 MW. ”
Despite introducing one of the most transparent monetary systems ever created, Bitcoin has come under fire for its carbon footprint. It is estimated that Bitcoin’s health and safety operations generate 45.34 megatons of carbon dioxide annually.

California was one of the first states to legalize environmental justice. The state also offers Environmental Equality Small Grants that provide funding for nonprofits up to $ 50,000.

Decarbbitcoin Labs is a party to a climate crypto agreement with blockchain-focused companies such as CoinShares and ConsenSys. The agreement, whose mission is to reduce the carbon footprint of the fast-growing digital currency industry, was inspired by the 2015 Paris Climate Agreement – a legally binding international treaty on climate change adopted by 196 parties.

Among the agreement’s various initiatives is to achieve net zero carbon emissions by 2030.

Source: CoinTelegraph