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International Animal Rescue (IAR) is set to stop accepting crypto donations from any currency after an internal policy review.
Source: International Animal Rescue
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Even though cryptocurrency transactions have become popular, there are underlying issues about the environmental sustainability of these blockchain technologies.
IAR has an issue with blockchain technologies like other organizations due to its use of a massive amount of energy to verify transactions, which is not environmentally friendly.
IAR stated that they seek to work on a technology framework that significantly reduces power consumption to limit global warming to 1.50C.
There have already been efforts to cut the environmental impact of these emerging financial technologies, but there is no blockchain that has practically addressed the issue.
Meanwhile, IAR acknowledged that numerous crypto and NFT communities are motivated in conservation and wildlife protection.
The non-profit organization advised for more innovation from the sector to be developed in a sustainable way before they start accepting crypto donations again.
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