Blockchain Infrastructure Carbon Offset Working Group (BICOWG)

The Blockchain Infrastructure Carbon Offset Working Group (BICOWG) is seeking to reshape the narrative around the ecological impact of blockchain technology. Today, blockchain is often referred to as an energy wasteful industry - along with other unsavory characteristics - that overshadow the transformative impact blockchain is and will have on contemporary life. We seek to raise awareness that blockchain is taking responsibility for its carbon footprint through carbon offsetting and development of industry wide, protocol level opportunities to reduce its ecological impact. In order to do this, we are exploring carbon measurement methodologies and proper carbon offset incentivization mechanisms. The working group has designed preliminary drafts for a system designed to incentivize offset of carbon footprint through the use of tokenized carbon credits and integration into existing yield generating opportunities in DeFi and indexes. The working group is comprised of leading operators at the intersection of blockchain, climate, and crypto in Web2 and Web3.