The HOOXI social network, created by the W-Foundation, will be one of the main projects that will help reduce carbon emissions
For some years, The United Nations (UN) has made great efforts in ecological matters with the firm idea of combating climate change, reducing the emission of greenhouse gases and developing alternatives to preserve the natural resources of the planet. In this regard, The UN has promoted different projects and initiatives that seek to improve the climate levels in the short and medium term. The most recent measure was announced a few days ago and will involve blockchain technology in order to lower greenhouse gas levels.
In a recent announcement made by The United Nations, it was informed that an important alliance, known as the Memorandum of Understanding (MoU), has been signed with the important South Korean non-profit organization W-Foundation, in order to generate concrete actions that seek to improve the environment conditions.
In this sense, it is known that there will be various projects that will be evaluated in order to take action against the deterioration of the planet’s climate. The Secretariat of the United Nations Framework Convention on Climate Change (UNFCCC) will be responsible for promoting ecological projects with the W-Foundation. One of these ideas is to use a compensation system with cryptocurrencies for companies and those who make efforts to reduce the emission of greenhouse gases.
But, specifically, the MoU agreement has the original meaning of using the potential of blockchain technology through the HOOXI application, which was created by W-Foundation. The tool is a social network which is available for smartphones, and compatible with Android and iOS. The platform is a social panel that seeks to motivate efforts for people to reduce pollution, invite others to conservation projects and take actions to reduce carbon emissions. Performing these actions through HOOXI is rewarded with points used in a classification system for users.
Another particularity that this eco-friendly application has is that each month users are rewarded with the W Green Pay cryptocurrency (WGP) and20% points, as a support measure for the use of the application. HOOXI is not the only project that is being supported by the MoU agreement, since there is a series of other applications that will be supported by new technologies. For instance, the formation of a methodology oriented in an Activity Program related to the HOOXI portfolio, in addition to other projects that would use distributed ledger technology (DLT) for all carbon offset.
Blockchain As A Tool of The UN
In previous occasions, The United Nations has directly supported initiatives that involve blockchain technology and its variables. The international organization used blockchain technology in a system to monitor the supply chain for refugees in the Middle East, monitoring the movement of food from a concentration point to their destination in Ethiopia. Also, it relied on an Ethereum system for the transfer of funds to refugee camps in Jordan.
The UN does not discriminate the tools that can be very useful for its humanitarian aid projects. For this reason, during some years the organization has already enabled direct channels for fundraising with cryptocurrencies and other reception methods.
By María Rodríguez