How PayPal And Tron Might Have Influenced European Crypto Policy

PayPal and Proof-of-Stake (PoS) protocols like Tron may have sought to influence European policy-making by commissioning reports, particularly concerning the upcoming Markets in Crypto-Assets regulation. It also examines the role of the Crypto Carbon Research Institute (CCRI), active in Crypto-ESG reporting since 2021, aiming to promote the idea that Proof-of-Stake is more environmentally friendly than Proof-of-Work.

The Origin: 2021
Dutch central banker and blogger Alex DeVries, along with Ulrich Gallersdörfer, Lena Klaaßen, and Christian Stoll, authored “The True Cost of Digital Currencies: Exploring Impact Beyond Energy Use” in 2021. This report illuminated the adverse effects of bitcoin beyond its energy consumption. Subsequently, Gallersdörfer, Stoll, and Klaaßen established the CCRI, focusing on contract research, IT services, and sustainability consulting.

2022: Involvement of PayPal and PoS Protocols
In 2022, the CCRI collaborated with South Pole, a company specializing in developing comprehensive emission reduction projects and strategies. Together, they published a joint report, crafted in consultation with PayPal. This report involved researching industry methodologies, identifying gaps in existing guidance, and gathering feedback from cryptocurrency and Greenhouse Gas accounting stakeholders. The collaboration resulted in the formulation of potential allocation solutions, which were then reviewed and synthesized into a proposed framework.

Source: forbes.com

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