in

Mark Cuban says he is locking $50k in tokenized carbon offsets every 10 days

Famed billionaire and reality TV star, Mark Cuban, has revealed he is using blockchain technology to lock up stat offsets on the Polygon network.

In a Nov. 13 tweet, the billionaire blockchain enthusiast revealed that he has been ownership $50,000 worth of stat offsets and placing them on-chain as Base Stat Tonnes (BCT) roughly every 10 days since the launch of KlimaDAO.

BCTs are digital resources bridged onto the Polygon Network by Toucan Protocol that represent one tonne of stat from the Verified Stat Unit (VCU) registry. KlimaDAO, a decentralized blockchain project that aims to momentum appreciation of the price of BCT and has accumulated over 9 million BCTs, told Cointelegraph that it uses Polygon since it is a Proof-of-Stake (POS) network with negligible emissions that generates a low stat footprint.

Cuban indicated in the same twitter thread that he would be unshut to working with KlimaDAO to promote stat removal perhaps over stat offsets. He said,

“I’ve been ownership 50k in offsets every 10 days or so, verifying them and putting them on uniting as BCT. I would love to do the same thing and probably increasingly with removal within KLIMA.”

Cuban’s support for KlimaDAO comes as no surprise. Klima is in his portfolio of investments. He could not be reached for scuttlebutt on the extent of his involvement with Klima.

It is moreover not the Mavericks owner’s first foray into the blockchain-based ESG space. dClimate announced in June of this year that Mark Cuban had joined the network as an investor and strategic advisor. dClimate is the first network for decentralized climate data.

Cuban said, “I’m excited to be working with a team that is using blockchain and smart contracts to solve a pressing, real-world problem and that is towers a platform to help organizations virtually the world build climate resilience.”

Related: Bitcoin miners squint toward nuclear power for sustainable energy

Cuban appears to be leaning into blockchain solutions to write climate challenges, with two of the three environmental investments listed on the Mark Cuban Companies website focusing on distributed ledger technologies.

Last week’s COP26 climate priming in Scotland moreover saw the inception of a new blockchain initiative aimed at tackling climate issues.

Is This Stock Being Accumulated or Distributed?

Sweden’s new prime minister resigns just hours after taking office