- Polkadot to help Shell, Vodafone, and Volkswagen to achieve their decarbonization goals together with Energy Web.
- Polkadot price has reacted to this announcement with a 5 percent surge in the last 24 hours.
Decarbonization has been the latest target for most heavyweight companies as they seek to achieve a net zero-emission energy business. According to the latest report, Polkadot (DOT), a blockchain designed to support other blockchains has been drafted to assist this course. Together with Energy Web, Polkadot would assist Shell, Vodafone UK, and Volkswagen in their decarbonization strategies.
1/ 🚨🚨 Enterprise adoption is truly an unstoppable force in this ecosystem!
Polkadot and @energywebx will together help big names like @Shell, @VodafoneUK and @Volkswagen on their path to decarbonization in an exciting new development. pic.twitter.com/qnVGpPqzPz
— Polkadot (@Polkadot) June 20, 2023
Energy Web is described as the leader in achieving cleaner energy solutions. With its experience, Energy Web would leverage the superior blockchain solution of DOT to enable its partners to meet their energy goals.
CEO of Energy Web Jesse Morris commented:
Polkadot excels at offering best-in-class core technology, enterprise-grade security, and seamless upgradeability to ensure a safe and future-proof environment. We couldn’t be more excited.
As demanded by the partnership, electric utilities would reportedly get the needed support to digitize and also integrate distributed energy resources. Also, deeper transparency and verification will be brought to green supply chains like sustainably-produced Bitcoin, renewable electricity, etc. On two panels at Polkadot Decoded and a main stage discussion on Energy adoption, Energy Web representatives would appear together with Vodafone, Aventus Network and Heathrow Airport.
CEO of Parity Tech and leading contributor of Polkadot Network Björn Wagner also commented:
We’re especially pleased to see Polkadot bring competitive advantages to initiatives & enterprises making a positive environmental and social impact.
Shell Working on Decarbonization, Energy Web Transitioning to Polkadot
Shell has over the years targeted to become a net-zero emissions energy business by 2050. Achieving this means that a company would reduce emissions from operations, as well as those from fuels and other energy products sold to customers. In October 2021, Shell set the target to reduce emissions by 50 percent by 2030. By 2025, the routine flaring of gas which generates carbon emissions from upstream operations would be eliminated.
Its methane emission intensity of below 0.2 percent goal was met in 2022.
We are partnering with customers, businesses, and others to address emissions, including in sectors that are difficult to decarbonize such as aviation, shipping, road freight, and industry. Partnering with others includes supporting government policies to reduce carbon emissions, sector by sector. We will continue to drive innovation to provide the low-carbon energy that our customers need.
Energy Web is currently seeking to transition to Polkadot where it has already applied to become a parachain. For now, it decides to take part in the protocol’s “shared security model.” Energy Web seeks to accelerate the tools available at its disposal as part of the effort to mitigate or eliminate polluting products. With the Polkadot transition, the company has two main areas of focus according to Morris.
tapping Web3 technology to create a “network effect” for “really big electric utilities” to let them have digital tools” to tie together the likes of electric vehicles, air conditioners, and electric batteries.
DOT currently has a bullish market sentiment with a 5 percent surge in the last 24 hours. As of press time, DOT was trading at $4.69.
