Tron Founder Justin Sun Opens up about US$1M Donation to Greta Thunberg

Asia Blockchain Review
January 23, 2020

In December 2019, Tron (TRX) founder Justin Sun pledged to donate US$1 million to Greta Thunberg, the young Swedish environmental activist who has made headlines around the world. Sun recently explained his rationale for adopting blockchain technology and promoting cryptocurrency as solutions that can help address the climate crisis.

Alleviating the Climate Crisis with Blockchain Technology

According to Cointelegraph, Sun said that as decentralized finance platforms and decentralized settlements are carried out using cloud computing systems, paper documents are no longer a necessity.

“Decentralized settlement and decentralized finance are completely run by computers on cloud computing systems, thus eliminating the need for ledger documentation and management records kept on paper,” he revealed.

Moreover, with information stored on a digital system, there is less need for transportation, which accounted for 8% of total carbon emissions worldwide.

“These types of records require postal mailing which is done through transportation. The whole Know Your Customer process also requires face-to-face interaction, which sometimes makes it necessary for people to travel. All of this will not be compulsory when decentralized finance is utilized,” Sun added.

Lowering Energy Consumption with Proof-of-Stake System

Additionally, Sun disclosed that by using a Proof-of-Stake (PoS) system instead of the Proof-of-Work (PoW) mining methods, a large amount of energy consumption could be cut.

“By adopting a [PoS] system, it drastically reduces the massive energy consumption used in traditional [PoW] mining method used by Bitcoin,” he said.

Sun also emphasized that decentralized financial systems can be accessed from anywhere in the world.

“Decentralized finance systems are available to everyone in the world! […] I truly believe blockchain must be in our future if we want to eliminate wastage and make a difference.”

Source: https://cointelegraph.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

    Related Article
    Disrupting the Blockchain Landscape with EMURGO – The Official Commercial Arm of Cardano
    Asia Blockchain Review recently spoke to Ken Kodama, CEO of EMURGO — the official commercial and ven...

    December 9, 2019

    Lightbulb Capital Founder on the Future of Blockchain in Finance
    Asia Blockchain Review recently spoke to Daniel Liebau, Founder of Singapore-based Lightbulb Capital...

    November 18, 2019

    Tackling the Challenging Scalability Issue with Matic Network
    Asia Blockchain Review recently spoke to Chandresh Aharwar, VP of Marketing and Strategy at Matic Ne...

    November 3, 2019

    Developing the Proof of Believability for Decentralized Networks
    Asia Blockchain Review recently spoke to Terrence Wang, co-founder of IOST, an ultra-fast, decentral...

    November 2, 2019

    We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us