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May 2022
Digital Insights sign MOU with global blockchain heavyweight think-tank to reduce carbon footprint of blockchain industry

Digital Insights Ventures (Digital Insights) has signed a Memorandum of Understanding (MOU) with the Blockchain Convergence Research Center (BCRC), at the (Advanced Institute of Convergence Technology (AICT), a research institute at Seoul National University. The MOU calls for Digital Insights to advise BCRC in the development of the REOBITs project which aims to counter the estimated 75 megatonnes of yearly carbon emissions due to Bitcoin mining and the 44 megatonnes of yearly carbon emissions due to Ethereum Mining. This will be done through the incentivising of carbon negative projects using blockchain technology and cryptocurrencies. Under the guidance of Digital Insights, the BCRC is also currently exploring the creation of their own proprietary layer-1 blockchain protocol that will focus on the minting and tracking of environmentally sustainable credits.

 

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