Blockchain technology offers another sustainable investment option

Blockchain technology could provide another investment option for fossil fuels, as the future of once-stable assets such as coal and oil is becoming increasingly uncertain
.

Blockchain technology offers another sustainable investment option

As John Henry Clippinger, chief innovation officer and founder of digital developer Swytch, said, the company is offering a blockchain-based incentive system to encourage mass divestment
.

Clippinger said the goal of the system platform is to accelerate the transfer to sustainable assets and drive the expansion of
technologies such as solar and battery storage.

Climate risks do not properly account for the cost of fossil fuel energy, which he sees as contributing to increasing desertification, rising sea levels and record temperatures
.

Clippinger argues that fossil fuels have reached the upper limit
of nature on which humans depend.
He pointed to Cape Town's water scarcity and that some Asian cities have become uninhabitable
due to air pollution.

The Swytch blockchain saw investors buy a clean energy-verified eco-friendly sign as an alternative
to buying shares of the petrochemical giant.

Clippinger said: "This is a global incentive mechanism that does not usurp specific sovereign interests or private interests
.
You have sovereign wealth funds with $4 trillion-$5 trillion in fossil fuel investments that at some point will depreciate rapidly and should accelerate their transformation into sustainable assets
.
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