EIT Climate-KIC partners with IOTA, ETH Zurich and Edgeryders in a bid to tackle climate change

• EIT Climate-KIC is a Knowledge and Innovation Community (KIC) that is working towards a carbon-free economy.
• The firm will be working with Edgeryders, ETH Zurich and IOTA to tackle climate change in Europe.
• IOTA’s Tangle was chosen since it can transfer value without impacting the environment.

EIT Climate-KIC has recently said that it will work with Edgeryders, ETH Zurich and IOTA to tackle climate change in Europe. EIT Climate-KIC is a European-based Knowledge and Innovation Community (KIC) that is working towards a carbon-free economy by leveraging innovation and developing capacity. Through systematic interventions, the firm aims to change mindsets and behaviors for long-term economic and climate changes. 

A major part of the new partnership is to redefine economic value by using blockchain technology and focusing on Long-termism Deep Demonstration. While curfews and lockdowns caused by the coronavirus pandemic are expected to be lifted soon, the emergence of a “new normal” and a subsequent societal reorganization is just around the corner. A change will demand the reassessment of guiding values. 

EIT Climate-KIC has chosen IOTA’s Tangle as the base layer where communities can trustlessly create and transfer value without affecting the environment. ETH Zurich will help in community incentivization and launch novel solutions like provisions of personal data markets for early implementations. Edgeryders will be responsible for creating policies through which a deployable economic model can be pushed out through a permissionless system.

Marcus Dapp of ETHZ University, says: 

Instead of a mono-dimensional, monopolistic system of money, we need to consider multi-dimensional incentives to create more robust financial systems and we need decentralised communities rather than monopolies to create and distribute currencies.