The IOTA Foundation has reportedly said it will co-host and sponsor Hack4Climate, a blockchain hackathon developed in collaboration with the United Na
The IOTA Foundation has reportedly said it will co-host and sponsor Hack4Climate, a blockchain hackathon developed in collaboration with the United Nations COP23 climate conference.
The hackathon will be held in the period between November 12 and November 16 during COP23, the world`s international climate change conference, as cryptocoinnews.com informed in a recent report.
The climate conference will take place in Bonn, Germany. State Secretary Walter Lindner of the German Foreign Office commented as quoted by the event`s official website:
“Climate change often causes water and food shortages, leads to conflicts over land and resources and consequently gives rise to refugee and migration crises. The UN Climate Change Conference in Bonn is therefore of particular global relevance. And once again, Bonn has an opportunity to demonstrate its caliber as a UN city and as a conference location.”
As for the hackathon, it wil give competitors the chance to develop blockchain-based solutions to some of the most prominent challenges that threaten environmental sustainability.
For example, entrants will try to develop a system that integrates Internet of Things (IoT) technology into a distributed ledger to track carbon emissions throgh the global supply chain and facilitate a P2P carbon exchange, as cryptocoinnews.com wrote,.
“We aim to prototype ideas that leverage Blockchain & DLT to fight climate change – to mitigate climate change, improve adaptation, and increase climate finance!”, as the organizers of the hackathon explained on the event`s website.
The event organizers will select 100 people to compete for 75,000 euro in prizes.
According to IOTA founder David Sønstebø, the organization was inspired to co-sponsor the hackathon because distributed ledger technology could possibly present a new way to solve the issue of climate change, as cryptocoinnews.com noted in their article.