The San Francisco based startup, Aerial, has just launched a tool for offsetting the carbon emissions of cryptocurrency.
With Aerial’s crypto offset tool, users can sign-in with their Coinbase to see an estimate of their Bitcoin and / or Ethereum collections’ carbon emissions, and then offset those emissions by making a contribution to verified carbon removal projects, using either a credit card or cryptocurrency.
Explains Aerial co-founder, Andreas Homer, “According to some estimates, a single Bitcoin transaction has the same carbon footprint as 1,870,875 Visa transactions. And as cryptocurrencies continue to become more normalized and ubiquitous, their outsized impact on the environment is only going to get worse.”
“While carbon offsets are by no means a perfect solution, they do give people a way to take immediate action,” adds Aerial co-founder, Ari Sawyers. “Long term, we hope that more sustainable cryptocurrency and blockchain technologies will make a tool like ours obsolete. But until then, crypto users can utilize our tool to offset their wallets - and support some amazing projects in the process.”
Contributions made through Aerial’s crypto offset tool will be distributed between two initiatives: the Kootznoowoo Improved Forest Management Project, an American Carbon Registry verified forest conservation program that’s owned and run by native Haida and Tlingit communities in Prince of Wales Island, Alaska. And Charm Industrial, a San Francisco-based company that converts captured CO2 into a harmless bio-oil that’s injected deep underground or used as a clean fuel.
Prior to their crypto offset tool, Aerial launched a NFT offset tool that has been utilized to offset the NFT launches of CNBC News, Ellen DeGeneres, ASICS, The Jerry Garcia Foundation, renowned street artist Mr Brainwash, and world-famous DJ, Calvin Harris, among others.
Says Aerial co-founder, Ebby Amir, “The success of our NFT offset tool showed us that, as NFTs and crypto’s transition from niche to normal has ramped up, so too has the demand for cleaner tech. And while the world waits for that tech to be delivered, we’ll keep coming up with ways to help mitigate the damage being done now.”
Aerial’s crypto offset tool is now live at www.aerial.is/crypto