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Shell Global Solutions, an international gas company, has announced a partnership with the blockchain platform Gitcoin, marking a significant change in the use of blockchain technology for climate solutions.
The energy transition is a big challenge, and we need new solutions. First, we will host a hackathon focused on blockchain-based climate solutions with our friends from @supermodularxyz. Stay tuned for more information and opportunities to participate.
— Gitcoin 🟢 (@gitcoin) August 14, 2023
While blockchain technology is mostly associated with cryptocurrencies, its application is much more. Its potential to address complex global challenges, especially energy and climate change, is enormous. This newly formed partnership looks at the potential to use the potential, with a focus on the energy domain, offering ways for better transparency and the adoption of renewable sources.
Central to this alliance is Shell’s commitment to strengthen the gitcoin matching fund. The energy giant has pledged to support the upcoming four phases of Climate Solutions as part of the Gitcoin Grants Program. In addition, the collaboration will also witness a blockchain-centric hackathon later this year, specifically aimed at solving energy use cases:
“Blockchain, with the potential to solve complex coordination issues, is particularly suited to the energy industry, providing new ways to encourage the adoption of renewable energy sources, as well as transparency and verifiability for carbon markets.”
The Gitcoin Grants Program is known for its innovative model of Quadratic Funding, which is designed to allocate resources in line with the real needs of grassroots communities.
Vikram Seth, Shell’s point person for Blockchain and Web3, said, “Working with Gitcoin is a great way to discover and support the latest projects from around the world and use the bags -a funding mechanism to harness the wisdom of the masses.”
Gitcoin, despite being deeply rooted in the blockchain space, has successfully outgrown its core domain. Its Grants Program stands out as a huge success, facilitating more than $50m in funding to a number of trailblazing projects spanning various sectors.
And, while Gitcoin’s initiative to fund and support climate solutions through its Grants Program is undeniably progressive, the effectiveness and authenticity of Shell’s involvement remains under scrutiny.
Shell’s sudden interest in climate-driven actions and partnering with blockchain technology raises the question: is this a genuine step towards new climate solutions or a well-crafted PR attempt to shift the attention from Shell’s past controversies?
Since the start of its operations in the region, the Niger Delta has experienced widespread ecological degradation, attributed in part to Shell’s activities.
We are outside the Royal Courts of Justice standing in solidarity with the Ogoni and Bodo people of the Niger Delta, taking Shell to court. Shell oil spills have polluted the Niger Delta for decades – they must pay for the cleanup!#shutdownshell pic.twitter.com/AIfNPyzLjE
— Fossil Free London (@fossilfreeLDN) July 24, 2023
Numerous oil spills have plagued the area, destroying local ecosystems, polluting water sources and damaging the livelihoods of countless residents who depend on fishing and farming:
“Over 13,500 residents from Ogale and Bille communities in the Niger Delta have now filed claims against Shell demanding that the company clean up oil spills they say have destroyed their livelihoods , poisoning their wells, and polluting their land and water, which means they can no longer farm or fish.”
Shell has faced several lawsuits in Nigeria and internationally over its operations in the Niger Delta. A landmark case in 2009 saw the company agree to a $15.5 million settlement with the families of slain Ogoni leaders, including Ken Saro-Wiwa, although they did so without admitting any wrongdoing.
I like gitcoin but this is green washing, not green pilling.
Raised Shell. https://t.co/Hu7ibLfTh1
— scoopy (@scupytrooples) August 14, 2023