Decentralized finance (DeFi) is a game-changing subsection of financial technologies, or fintech. People may be familiar with the terminology relating to cryptocurrency and how all transactions are distributed and verified in a peer-to-peer fashion instead of through a bank. However, people know doing everything online is energy-intensive and results in emissions. This is where carbon credit trading comes in.
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What Is DeFi and How Does It Relate to Carbon Credits?
Decentralized finance (DeFi) is a technology that removes the need for banks. A purchase or trade no longer needs a third party. Instead, DeFi uses these assets to give people the power to monitor their monetary activities:
- Blockchain: A digital database, or ledger, made of block-like links that can keep track of, verify, and encrypt transactions. It is the backbone of many…
