“How do we fix this? How do we solve problems—not just make it ‘less bad’? When I look around at the approaches that people are taking towards climate change, it’s all mitigation. It’s all trying to make things ‘less bad’ than they’re going to be. Everyone seems to accept it that this is going to happen, and we’re just going to have to deal with the effects. Well, I don’t. I don’t accept that.”
Nori (formerly Geagora) seeks to solve the problem of climate change by reversing the process that got us into this mess. We’ve burned fossil fuels and emitted gasses into the air. So why can’t we simply remove these same gasses from the atmosphere and put them somewhere—in the soil, in drywall, or even tennis shoes? The Nori team developed their idea for the ConsenSys Blockchain for Social Impact hackathon. Their concept is to build a carbon removal marketplace on the blockchain that enables customers to pay other people to remove carbon dioxide from the atmosphere, eventually lowering the overall concentration of CO2 to 350 parts per million.
On the inaugural podcast, Ross and Christophe are joined by Nori CEO Paul Gambill to discuss the concept of carbon removal and the scope of the problem presented by climate change. Paul addresses Nori's approach to reversing climate change, explaining the necessity of removing carbon from the atmosphere rather than simply reducing emissions. They also cover the basics of the blockchain and cryptocurrency, revealing how Nori would use tokens to eliminate the problems presented by the current cap and trade system. Listen and learn how Nori's carbon removal marketplace would function, how technology could be used to validate sequestration activities, and how companies are innovating around carbon removal.
[5:24] The concept of carbon removal
[9:31] Why carbon removal is necessary
[11:10] The carbon levels that would put us in the ‘danger zone’
[12:36] Paul’s take on fixing climate change
[18:40] Shortcomings of the cap and trade system
[33:35] The mechanics of Nori
[37:18] How sequestration activities are validated
[38:31] The Carbon Harvest project example
[41:46] How companies are innovating around carbon removal
[42:56] How third parties could develop in the ecosystem
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