Due to worries over environmental changes brought on by the atmospheric emission of greenhouse gases, climate change has become an essential topic of discussion. Even in the world of cryptocurrencies, blockchain technology is being looked at as a potential method to cut carbon emissions. 

One blockchain innovation that aims to lower carbon emissions is IMPT, a crypto platform that links with carbon trading.

While cryptos like Ripple XRP fell short of the SEC’s compliance, bringing an abrupt stop to its bull run during the green market, the government may find favourable ground for the eco-friendly IMPT token.

Launched in 2012, XRP is built atop the idea of a distributed ledger network that requires various parties to participate in validating transactions rather than any singular centralised authority. 

It's been ten years, and Ripple is yet to cross the $1 mark. Many crypto investors may have lost appetite to invest in XRP especially given that they are still under the scrutiny of the SEC, and other blockchains have sprung up as competition.

Find out in this article why we think IMPT will hit $1 before XRP.

What is  IMPT? 

IMPT is a brand-new project that strives to use blockchain technology to make the world more sustainable. It is an excellent nominee for the "greenest" cryptocurrency of the year. 

Blockchain Environmental Impact and the Role of IMPT in Carbon Removal

Right now, in 2022, the government and its agenda are all about going green, climate change, and anything that benefits the immediate environment at the very least. Any project/blockchain positioning itself to fit that extra work has some head-start with the government and other proponents of a greener environment.

Previous innovations exist for corporate bodies and organisations to purchase carbon credits. However, hardly is there any project that focuses on allowing individuals to take active and convenient participation in reducing the environmental impact of carbon emissions like IMPT does.

Mechanism of The IMPT Project

In carbon trading, the carbon pumped out by fossil fuel-related emissions, which adds to global warming, is given a value. This means you can trade it between companies, individuals, and countries. Someone who purchases carbon or at least a carbon token that represents a certain amount of carbon has certain rights to release carbon emissions. 

Once you sell your carbon credit, you give up that right. You can charge more for the token if you can store carbon effectively and not release it into the atmosphere. 

Incidentally, when countries get involved in the carbon trade, it is usually industrialised nations that pump out a lot of CO2 that are the buyers, and countries with fewer carbon emissions are the sellers. 

The carbon trade uses tokenisation, the idea that something that you can trade somethings means you can pretty much trade anything by turning them into a token with a certain value. With tokens being a crucial part of cryptocurrency, it was perhaps inevitable that at some point, someone would come along and combine blockchain with carbon credits which is what IMPT is designed to do. 

How to Exchange IMPT

According to the IMPT whitepaper, the process of value exchange with IMPT can be summarised in these simple steps.

1. Buy IMPT

2. Convert IMPT to carbon credit and vice versa. 

3. Burning IMPT gives you an NFT

4. List and trade your NFTs in their marketplace 

Why Should You Be Bullish on IMPT?

• • IMPT will make earning carbon credits affordable for each member of society.
• • Users won’t need to go through complex procedures to purchase a carbon credit.
• • IMPT is in partnership with scores (up to 10,000) of other impact projects worldwide.
• • The IMPT NFT scheme encourages individuals and organisations to contribute to positive climate change. They do these by giving them collectible NFTs for retiring their carbon credits and establishing the IMPT score, where users can earn points for their efforts and measure how impactful they are.
• • Through the blockchain tamper-proof and immutable mechanism, it avoids the problem of double spending; from the moment of tokenisation, the carbon credit will exist only in the form of NFT, which will be displayed in a decentralised registry and can be tracked by users.

Now, Who Would Want to Miss Out On Such Amazing Innovation?

The first round of IMPT presale is live, and you can participate by buying into it before they are listed on Coinmarketcap and Coingecko.

Despite the rough patch that characterises the crypto markets during this time of the year, IMPT has already scored some enviable milestones.

A few days into their presale, they have raised over $3.2 Million, with retail investors and VCs participating.

If you would love to participate in the first presale round, read this guide on NewBTC.

You can also check out their official website for more information on IMPT.

Bitcoin's yearly energy usage has been said to be larger than that of developing countries like Argentina, Pakistan, and others. This large carbon footprint can be curbed with IMPT and other similar innovations.

After all, Ethereum, the world's second-largest blockchain, recently completed its much-heralded switch from POW to POS, dramatically reducing the energy it uses.

Disclaimer: Crypto-asset or cryptocurrency investments are subject to market risks such as volatility and have no guaranteed returns. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.