The Watr Foundation, in partnership with blockchain platform Algorand, recently launched a project to provide ESG scores for different commodities, with a particular focus on climate change. While the project has a clear environmental focus, the platform will also label everything from how the company treats its employees to the number of people participating in the asset's ecosystem by gender.
Maryam Ayati, chair of the Watr Foundation council, said in a statement:
“We believe that the next iteration of the resource model should be co-creation in a jointly owned profit model. Being able to work with pioneers in decentralized technology, blockchain, industrial and environmental products will transform this blockchain ecosystem into a It's an honor and a relief to be realistic."
Algorand COO Sean Ford said: "Watr's vision is to build a commodity market based on transparency, environmental responsibility and motivation of all participants, which is consistent with Algorand's leadership as a carbon negative network."
In September, Algorand released a protocol upgrade to improve their smart contracts and announced a $300 million fund for DeFi projects.
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