Justin Sun Donates $1M To Greta Thunberg, Explains Why

On December 18, we reported in the Tron news about the founder of the Tron Foundation and how he publicly pledged to donate $1 million to the Swedish activist Greta Thunberg and raise global awareness of the climate crisis. As Justin Sun donates $1 million to the child’s foundation, he now decided to explain the rationale behind his move.

After the COP25 UN Climate Conference in Madrid, Sun tweeted:

“As a young entrepreneur, I share @GretaThunberg’s passion to change the world. Crypto will contribute immensely on reducing carbon footprint by implementing decentralized settlement. I would like to personally commit USD$1 Mil to @GretaThunberg ’s initiative. #cop25”

The tweet received many responses and praises. However, while Justin Sun donates $1 million to the Greta Thunberg campaign, it is still left unclear as to how cryptocurrency would help and reduce the carbon footprints through the creation of decentralized statements.

When it comes to this, Sun told the media that decentralized settlements and finance platforms are run by computers on cloud computing systems. According to his opinion in the latest crypto news, this eliminates the need for paper documentation as he said:

“Decentralized settlement and decentralized finance are completely run by computers on cloud computing systems, thus eliminating the need for ledger documentation and management records kept on paper.”

In addition to this, cloud computing systems do not rely on physical transportation infrastructure. Systems like these could allow people to travel less, easing the travel sector’s burden on the environment which accounts for 8% of global carbon emissions.

As Justin Sun donates the money to the foundation, he explained how crucial it is to eliminate unneeded processes. He also pointed out that using a Proof-of-Stake (POS) system could reduce energy consumption seen in the traditional Proof-of-Work (POW) mining methods used by Bitcoin.

“By adopting a POS system, it drastically reduces the massive energy consumption used in traditional POW mining method used by Bitcoin.”

Lastly, Justin Sun donates $1 million and is confident that decentralized financial systems are beneficial in that they are readily available around the world. He concluded with this statement:

“Decentralized finance systems are available to everyone in the world! Bank the unbanked. Today, the traditional finance system is limited, expensive and not cost effective. Enormous resources and steps are required just to open an account. Imagine having to serve a heavily populated country and all the wastage that ensues. I truly believe blockchain must be in our future if we want to eliminate wastage and make a difference.”