Tron Founder Speaks about the $1 Million Greta Thunberg Donation

News / 31.12.2019

A report by Cointelegraph on December 18 talked about the public pledge of Tron (TRX) founder Justin Sun to donate $1 million to Swedish activist Great Thunberg. Sun’s donation is towards letting the world know about the climate crisis.

He expressed his commitment after the COP25 UN Climate Conference in Madrid.

Despite his pledge to donate $1 million to the campaign of the environmental activist, it was not clear how crypto would assist in reducing carbon footprints through decentralized settlements.

As regards this, Sun informed Cointelegraph that computers on cloud computing systems run decentralized settlements and decentralized finance platforms. Hence, ledger documentation on paper is not needed.

Besides, cloud computing systems are digital-based so they are not dependent on physical transportation infrastructure. The travel sector is responsible for 8% of worldwide carbon emissions. People can travel less with these systems, thereby relieving the burden of the travel sector on the environment.

Likewise, according to Sun, the use of a Point of Sales (POS) system may limit energy consumption observed in conventional Proof-of-Work (POW) mining approaches utilized by BTC. According to a study in recent times, BTC mining emits more than twenty-two megatons of carbon dioxide yearly, in comparison to the aggregate emissions of cities like Las Vegas and Vienna.

In conclusion, Sun noted that the availability of decentralized financial systems worldwide is beneficial. He emphasized the limitations of conventional finance system:

“Today, the traditional finance system is limited, expensive and not cost effective. Enormous resources and steps are required just to open an account. Imagine having to serve a heavily populated country and all the wastage that ensues. I truly believe blockchain must be in our future if we want to eliminate wastage and make a difference.”

 

Featured image courtesy of Coindesk. Source: Cryptopress.

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Born in Bucharest, Marius is the founder of Crypto Adventure. Since his first contact with Bitcoin and cryptocurrencies, he never stopped believing that they are one of the most important innovations of our time, which will forever change the way business is done.