Justin Sun explained his intent about the $1M donation

by in Cryptocurrency News

Justin Sun and Greta Thunberg

In the mid of December 2019, Justin tweeted to officially announce this donation. He highlighted that the main reason that attracted him to donate in this cause. He believes that crypto would play a major role in decreasing the level of carbon in the atmosphere because it uses a decentralized structure.

In an interview, he further explained his stance and outlined several different reasons as per why he believes that crypto would be able to decrease the levels of carbon in the atmosphere by producing decentralized structures.

He stated that the decentralized structure solely works by computers on cloud computing systems. As a result, it removes the need for any paperwork or managing any such data through papers.

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He further said that this network of computers is digital which means that it doesn’t require any sort of transportation. This is a massive breakthrough as the harm to the environment because of transportation would reduce massively because of this. Sun also mentioned that this platform uses Proof-Of-Stake (POS) rather than the Proof-Of-Work (POW) used in the mining of bitcoin. It is another added benefit as a recent report displayed that bitcoin mining contributes to 22 megatons of carbon dioxide each year.

Finally, Justin Sun stated that decentralized finance is something that can be used by anyone who wants. He believes that blockchain has the capability to revolutionize the current financial model which is very restricted and extremely costly. He also said that this accessible nature of blockchain would help a country that has a very high population and wants more and more of its people to make use of the finance platform.