Kora, a project that rewards users who reduce their carbon footprint with tokens, has received an investment from the Tezos Foundation. Kora has also selected Tezos, which is known for its energy-efficiency, as its blockchain platform of choice.
By providing a unique set of incentives, Kora is attempting to address the issue of individuals lacking the motivation to change their habits and reduce their carbon emissions because they feel like their impact is insignificant in the grand scheme of things.
The Kora app has a simple premise—users earn 1 Kora token for every 100 grams of CO2 they reduce. For example, users can earn Kora tokens by choosing to ride their bicycle or walk instead of driving their car. The app provides a marketplace where Kora tokens can be spent to buy sustainable products and services at discounted prices.
In addition, Kora gives users option to offset their carbon footprint through investments in projects such as reforestation initiatives that reduce carbon emissions. By offsetting emissions, users can also earn additional Kora tokens.
As one of the most widely adopted blockchains using the energy-efficient Proof-of-Stake consensus model, Tezos is suitable for environmental projects. For example, the Tezos blockchain has also been selected by Cambridge University’s Cambridge Centre for Carbon Credits (4C), which will use it to launch a decentralized marketplace for carbon credits.
Gilad Regev, the CEO of Kora, said that Tezos was an obvious choice for the project since it has one of the lowest carbon footprints in the crypto and blockchain industry. Regev also stated:
“Kora is becoming the most accurate real-time platform for measuring and validating behavior change. Ensuring that our users’ data and payment information is safe and secure has been a critical milestone in developing our platform. Furthermore, the low-carbon Tezos blockchain enables secure validation of climate action.”
Regev also commented on the investment from the Tezos Foundation, saying that it represents a “pivotal moment” for the Kora project:
“The support from the Tezos Foundation of Kora is a pivotal moment in the growth of Kora, one which will help propel it as both an app- and a movement- to new heights and we look forward to working with Tezos in this exciting chapter of our development.”
In September, the Tezos blockchain was successfully improved through the Kathmandu upgrade, which was the 11th upgrade of the Tezos protocol. The Tezos blockchain features on-chain governance and the protocol can be upgraded without requiring a hard fork.
David is a crypto enthusiast and an expert in personal finance. He has created numerous publications for different platforms. He loves to explore new things, and that’s how he discovered blockchain in the first place.