Blockchain continues its commitment to Carbon Neutrality

20.02.2023 – The company collaborates with ClimateTrade to have the least possible carbon impact in order to fight the climate crisis.


Offsetting the last quarter of carbon emissions

Over the course of 2022, the Milan-based software house Blockchain has offset its carbon emissions with the help of ClimateTrade. Once the company delivers the required data, ClimateTrade is able to calculate carbon emissions and provide all the tools to offset them.

Blockchain, in order to be carbon neutral, decided to support two environmental sustainability projects:

• Reforestation in Spain – The project concerns an area in Vilardevos (Ourense) that suffered a severe wildfire in 2005. The aim is to restore the tree cover it once had.
Together with the municipalities, the project aims to revitalize the area from an environmental and touristic point of view.

• Wind Energy in Brazil – A company called VTRM Energia Participações is aiming to set up and run wind power plants in Brazil. These plants will provide electricity to the Brazilian National Interconnected System without producing any harmful emissions.

Why offsetting with ClimateTrade

ClimateTrade is a cutting-edge climate technology company that, thanks to blockchain, manages to provide transparent and traceable carbon offsetting. Having this kind of trust in a carbon offsetting company is what matters for Blockchain every carbon offset is traceable and can be monitored whenever there is a need by the client.

Nothing happens by chance: since April 2021, ClimateTrade has been in a partnership with Algorand, the greenest blockchain built by the Turing award winner Silvio Micali. Algorand has a clear vision of how to be a carbon-negative blockchain, having implemented its own consensus mechanism, Pure Proof of Stake, which has a lower carbon footprint than other consensus mechanisms such as Proof of Work. Thereafter, several collaborations have been established that aim to invent and create new sustainable approaches for the environment as, in primis, ClimateTrade.

ClimateTrade, through a sustainable oracle called the Green Treasury, calculates the carbon footprint of every transaction within the Algorand blockchain. This means, for example, that every carbon emission that blockchain emits within Algorand is counted and ready to be offset. ClimateTrade also supports companies outside the blockchain environment through carbon footprint calculators and offsetting services, so everyone can do their part in a world that needs to change.

A long-term commitment

The partnership with ClimateTrade started recently with the offsetting of emissions from 2022. This is a big start and blockchain will continue even in 2023 to be ambitious in its efforts to offset emissions. With the help of ClimateTrade, it will continue to analyze its emissions with ever-increasing granularity to ensure that it is taking the most effective carbon offsetting decisions and making a real difference in the fight against the climate crisis.

Blockchain on the rise

Founded in 2018, Blockchain immediately showed great potential in the Italian and international blockchain market. The start-up has doubled its income from a turnover in 2020 of 1,336,245€ to 2,761,395€ in 2021, first estimates of 2022 turnover are around 4.3 million and plus 1 million from ebitda. These goals were possible thanks to the entire team who managed to bring innovative products to the market and carefully communicate them to
their customers, and do so with a sustainable impact on the environment.

The future looks bright for Blockchain as the team is constantly working to further expand its reach, collaborating with large companies in the country and developing new partnerships. In addition, the team is working on the development of new products that will help revolutionize the blockchain sector. With these initiatives, Blockchain is sure to continue its impressive rise in the Italian and international blockchain market.

About Blockchain

Blockchain Italia is a Milan-based software house specializing in fintech and blockchain solutions. Its mission is to optimize processes by digitizing using innovative protocols. Thanks to its high specialization and achievement of tangible results, Blockchain Italia has developed and packaged several solutions for Italian and international clients, launching a multitude of products on the market for notarisation, tokenization and payment systems. The company owns the Format Blockchain Forum Italia, which has been bringing together professionals and companies from the blockchain and fintech world every year since 2018.

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