Crypto wallet: Phease deploys carbon offsetting

Faced with global warming, Phease participates through its project in the growing global efforts to protect the climate. The ultimate goal ? Achieving carbon neutrality by 2050 and this mainly involves carbon offsetting. Good news, Phease has just deployed a new tool that will allow everyone to participate in ecological compensation programs.

Phease: Finance green projects with confidence

NGOs, foundations and associations which work for the protection of the environment and which fight against global warming need money. But in this donation process, there is a systemic problem that can slow down these key players in their efforts: the lack of trust. Reason why Phrase has been created. The aim is to help these NGOs not only to obtain donations, but also to gain the trust of donors.

To achieve these goals, Phease relies on the blockchain. Technology is decentralizing the donation system and allowing everyone to participate in ecological projects. But above all, the blockchain guarantees the total transparency of donations. Phease is developing end-to-end solutions for organizations to receive crypto or fiat funds and provide traceability of funds and clear insight into their uses. The launch of this solution is scheduled for September.

Make your transactions greener

While many crypto users are already aware of the impact of their transactions on the environment, some are still unaware that cryptocurrency mining uses a lot of energy. Phease has therefore created a scanning tool (already available) which makes it possible to measure the carbon footprint of crypto wallets and smart contracts (different blockchains very quickly available). The idea is to help users understand the environmental impact of these transactions so that they can then compensate for them.

Phease has just rolled out carbon offsetting. The latter involves the purchase of a volume of carbon units reflecting its associated carbon emissions. The units purchased correspond to an investment in a recognized and accredited CO2 saving project.

Phease thinks in particular of causes such as the safeguard of the Amazonian forest, the purification of the oceans or the planting of corals and the reconstruction of coral reefs. Replacing charcoal with biofuel in Africa is also part of it. In any case, the team makes sure to work with long-term and authenticated projects.

Using this tool, users can purchase carbon credits through Coinbase. Phease also works in partnership with SmartB to ensure the traceability of these credits. Each carbon credit purchased goes hand in hand with a carbon certificate which certifies that a project has effectively made it possible to contain or avoid the emission of C02 into the environment.

Phease: An upcoming donation platform

To complement the carbon scan and offset tool, Phease also plans to launch a second tool soon. It is a fully transparent donation platform. The launch is scheduled for September this year. The tool will allow users to track donations through the blockchain, how and by whom the donations are used. Phease goes further by allowing donors to know the real impact of donations made on the environment thanks to socialproof.

The tool also offers access to the DAO, which will allow the community to have the right to see and vote on the environmental projects to be financed or the new projects to be integrated into Phease. Going forward, the team plans to expand its network of partners with DEXs, NFT platforms and other protocols to take social proof to the next level. Eventually, Phease will launch its token and develop other tools to improve the transparency and efficiency of the platform.

Conclusion

Through carbon offsetting, Phease contributes to slowing down climate change. The platform also and above all makes it possible to show the real impacts of projects financed by users and to gain the trust of donors by playing the card of transparency.