Gitcoin, a platform funding open-source projects, partners with Shell to incentivize renewable energy adoption via blockchain-based funding and hackathon, advancing sustainability and transparency in carbon markets.
Key Points
- Gitcoin partners with Shell for renewable energy adoption & carbon market transparency.
- Collaboration includes donation to Gitcoin fund, hackathon on blockchain energy use cases.
- Gitcoin Grants Program has distributed $50M for DeFi, Climate, Open Source projects.
- Shell’s commitment to sustainability reflected in blockchain-driven collaboration.
Gitcoin, a platform known for funding and building open-source projects, has announced its collaboration with Shell, a leading global energy company.
The partnership is aimed at finding innovative ways to incentivize the adoption of renewable energy sources and provide transparency and verifiability for carbon markets.
Collaboration Details
The collaboration between Gitcoin and Shell involves a donation to the Gitcoin matching fund, which will support the next four Climate Solutions rounds in the Gitcoin Grants Program.
Additionally, a hackathon will be organized in the fourth quarter of this year, focusing on blockchain-related energy use cases.
We’re happy to share that we’ve entered a collaboration with Shell to accelerate open-source innovation in the energy sector. Together, we’re driving sustainable solutions and making a positive impact on the world. Let’s dive in!https://t.co/QG7QMOHN1t
— Gitcoin 🟢 (@gitcoin) August 14, 2023
The Gitcoin Grants Program is a quarterly initiative that utilizes Quadratic Funding to distribute resources according to community needs.
This program has already distributed over $50 million to early-stage builders working on various projects related to DeFi, Climate, Open Source, and more.
Azeem Khan, Gitcoin’s Head of Impact, expressed the company’s excitement about the collaboration, stating, “We’re excited to announce this collaboration with Shell as another key example of the real-life potential to scale transparent funding allocation via blockchain technology for real-world solutions.”
Shell’s Commitment to Sustainability
Shell’s partnership with Gitcoin reflects its commitment to contributing towards sustainable development in its business processes and decision-making.
The organization aims to deliver more sustainable and cleaner energy solutions responsibly, while considering economic, environmental, and social factors in the short- and long-term.
Vikram Seth, Blockchain & Web3 Manager at Shell, highlighted the significance of the collaboration, saying, “Working with Gitcoin is a great way to discover and support cutting edge projects from all around the world and to leverage innovative funding mechanisms to harness the wisdom of the crowd.”
The collaboration between Gitcoin and Shell represents a significant milestone in the utilization of blockchain technology to address complex coordination challenges in the energy industry.
By fostering the development of open-source software for climate solutions, the partnership aims to create a more transparent and sustainable future.
This collaboration exemplifies the growing recognition of blockchain’s potential to drive real-world solutions, particularly in sectors that require seamless coordination and transparency, such as energy and climate.
