Could blockchain find the tools to combat climate change? Insurance company Lemonade_Inc partners with the industry for the Lemonade Crypto Climate Coalition, a DAO to protect farmers from climate change by offering blockchain-based insurance.
Insurance company Lemonade has partnered with prominent blockchain companies to form the Lemonade Crypto Climate Coalition decentralized autonomous organization to protect farmers from climate change by offering blockchain-based insurance.
The insurance firm founded Lemonade Foundation, a nonprofit focused on creating social and environmental change with the use of blockchain-enabled technologies. The foundation will work closely with members of the L3C including Chainlink, Avalance, DAOstack, Etherisc, Hannover Re, Pula and Tomorrow.io.
The climate insurance will take the form of a decentralized application on the Avalanche platform. The DApp will also enable farmers to make and receive payments using crypto or with their local currencies. According to the announcement, the DApp will be rolled out to Africa in 2022. Daniel Schreiber, director at the Lemonade Foundation, said that the foundation was created to build technologies that are exponentially impactful. With this, they “expect to harness the communal and decentralized aspects of web3 and real-time weather data to deliver affordable and instantaneous climate insurance to the people who need it most,” said Schreiber.
The move is expected to impact around 300 million farmers in Africa. Rose Goslinga, co-founder of Pula, a Kenya-based insurance tech firm says that “the majority face real climate risks to their livelihoods, as traditional, indemnity-based insurance is often unaffordable or unavailable to them.” Goslinga notes that an on-chain solution will have a scalable positive impact on the region.Chainlink, a founding member of L3C, also plans to contribute its team and tech to the cause.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Germany’s trees are dying. A fierce debate has broken out over how to respondGermany invented “scientific” forestry. But a huge dieback triggered by climate change has ignited a fierce debate over how the nation should manage its trees. InternationalDayOfForests
Read more »
SEC asks companies to divulge pollution and climate risksClimate change could be taking a toll on profits already.
Read more »
Latest Bitcoin, Blockchain and Ethereum newsThings are looking up today with some unexpected altcoins grabbing the headlines. After a rough 2021, ETH Classic has been rocketing recently, surging 14.7% in the past 24 hours and 68.4% in the last seven days. Get the full picture here:
Read more »
Blockchain Education Hub Platinum Crypto Academy Partners with Cardano’s BashoswapPlatinum Crypto Academy, one of the leaders in crypto education, strengthens its position in Cardano’s ecosystem
Read more »
Stratospheric sulfur after the Chicxulub impact may have extended climate change, contributing to mass extinctionWhile the popular Netflix movie 'Don't Look Up' has raised public consciousness to the potential catastrophic effects of asteroid impact to planet Earth, new research sheds light on how the Chicxulub impact 66 million years ago resulted in extinction of 75 percent of animals on Earth, including the dinosaurs.
Read more »
Researchers find places in Yosemite National Park naturally protected from climate changeWhat they are finding out here in Yosemite could provide a road map for protecting not just National Parks nationwide, but any kind of land being threatened by warming temperatures.
Read more »