DeFi and Oracles Can Help Fight Climate Change - Chainlink’s Founder by successforall

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· @successforall ·
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DeFi and Oracles Can Help Fight Climate Change - Chainlink’s Founder
https://static.coindesk.com/wp-content/uploads/2021/05/Sergey-Nazarov-710x458.jpg


Brady Dale reports in coindesk.com that "decentralized finance (DeFi) could be crucial to combating climate change, Chainlink founder and CEO Sergey Nazarov argued at Consensus 2021 Tuesday."

"Nazarov laid out two cases in particular where Chainlink 2.0’s hybrid smart contract model, where blockchains provide security and decentralized oracle networks collect data off-chain, could help."


"First, he spoke about how oracle networks can help expand regenerative agriculture. This is a form of farming that leaves the land healthier as farming takes place, deepens the soil and captures more carbon in it for a longer time."

He also mentioned about how decentralized crop insurance through insuretech protocols like Arbol that use things like Chainlink and Ethereum can help compensate the farmers from dramatic weather events such as droughts and flood.

Secondly, he noted how "oracle networks can help make carbon credit systems more reliable and trustworthy. You’re able to prove things that are meaningful about environmental outcomes, tracking things like reforestation and carbon capture. This will make carbon taxing and credits something more reliable and trustworthy."

Source credit and full story - https://www.coindesk.com/chainlink-sergey-narazov-defi-oracles-climate-change

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