Buda.com sets example reducing CO2 emissions. So, who’s next?

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Contxto – Chilean cryptocurrency exchange platform Buda.com is stepping up its game. Although this time around it’s not a matter of scaling or an additional feature. But rather it’s setting a good example in terms of caring for the environment.

This week, the startup announced it’s modified its operations and received the Carbon Neutral Certification. 

Moreover, when users withdraw Bitcoins from the platform, they’ll have the option of donating between US$1 to US$2. These proceeds will all go directly towards environmental organizations like the Legado Chile Foundation.

Bitcoin mining pollution

According to the startup, Bitcoin mining consumes 80 terawatt-hours (TWh) of electricity a year, “which is the equivalent to what’s consumed in countries like the Philippines or Belgium.” Other sources report it’s around 95.27 TWh.

Regardless of who has the right answer, with those numbers, for Buda.com, it’s unacceptable that there are flashy tech innovations everywhere, but the environment and future generations take a back seat.

In the Southern Cone, the startup is a relevant player when it comes to exchanging digital tokens. And at the moment it’s found handling cryptocurrency transactions in Colombia, Argentina, Peru, as well as its native Chile. 

What’s nice to see though is that it wants to take the lead in this eco-friendly initiative. Buda.com even made a call for other businesses to reduce their own carbon footprint while also rallying consumers to demand that companies consider the environment in their operations.

Be the change and go green

“We believe that any company that sells products or services should handle the waste its operations generate,” stated Guillermo Torrealba, the startup’s CEO. 

“Not doing it is the equivalent to not picking up your own garbage, which means someone else will have to do it for you in the future. In the same vein, Bitcoin, like all technologies, has its own waste. And at Buda.com we’ve decided that as a company and industry we’re accountable for ours.”

But wait, here comes the clincher:

“This is not an act of charity. It is a duty.”

Sorry not sorry for the lengthy quote. But what the executive said was just too bold to paraphrase.

Nonetheless, it’s worth pointing out that a significant portion of the heavy lifting is passed onto its users. Particularly in their willingness to donate. 

I guess we’ll have to wait and see what happens.

In any case, I’m looking forward to writing about more startups following suit. And I don’t care whether they’re doing it to cut down criticism for the pollution levels crypto mining generates, nor as a PR strategy. 

So long as it gets done.

Related articles: Tech and startups from Chile!

-ML