BitMex has come through following its commitment to go carbon neutral, becoming the first crypto exchange to enable carbon-neutral blockchain transactions. The platform has announced that they have spent $100,000 on the purchase of 7,110 tonnes of CO2 credits to cover the environmental footprint of BitMex’s Bitcoin transactions, along with the servers powering the platform for the next year. BitMex has further revealed its plans for the amalgamation of cryptocurrency technologies and environment conservation methods as the exchange understands that merely purchasing CO2 Credits will not be enough in the long run.
BitMex Research Program
BitMex crypto exchange’s upcoming strategy for sustainable crypto adoption will be two-fold. According to the exchange’s website, they will begin by investing in research and education regarding the “true environmental impact” of Bitcoin along with other virtual currencies. While the company is focused on deciphering a more eco-conscious way, they also aim to radically increase the public’s awareness about crypto’s “revolutionary potential” to improve livelihood.
“We also want to deepen understanding of the revolutionary potential – and societal value – of crypto, and how it can change people’s lives for the better. A holistic effort needs to include research into environmental impact, but also fundamental education about the possibilities unlocked by crypto technology. We’ve started by contributing this piece by BitMEX Research about how we calculated our environmental footprint, which we hope substantively adds to the discussion about calculating the impact of Bitcoin transactions.”
Furthermore, BitMex is determined to extend its reach by micromanagement of the Research Program, wherein the platform intends to work with individuals and organizations that are already working on developing innovative and technologically advanced techniques to reduce cryptocurrency’s unsustainable effects on the environment.
“Through our patron membership in Global Digital Finance, an international industry group, and other connections, we’ll be contributing our time, expertise, and resources to ensure we and other industry players integrate sustainability into their daily decision making.”