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Crypto Firm Polygon Seeks to Eliminate Carbon Footprint in 2022

  • Founder says crypto should help earth ‘rather than destroy it’
  • Industry’s electricity consumption has drawn scrutiny
Sandeep Nailwal
Sandeep NailwalPhotographer: Chet Strange/Bloomberg

Polygon, a software platform for developers utilizing the Ethereum blockchain, is pledging $20 million as part of a push to fully offset the impact of its carbon-dioxide emissions this year.

Sandeep Nailwal, the founder of Polygon, said more efforts need to be made by blockchain companies to form a “united front” to fund and “leverage technology that helps heal the earth -- rather than destroy it.”