Last week, Thallo’s Head of Partnerships and Policy Nicolas Alexander spoke at two panels at the Sustainable Blockchain Summit EU organised by FileCoin and Protocol Labs, with support from the UNFCCC.
Speakers explored themes including the future of tokenized carbon within the Voluntary Carbon Market (VCM) and how Web3 can reorient incentives to drive sustainability outcomes.
Many candid views were exchanged, existing relationships strengthened, and new partnership opportunities made.
But three takeaways stuck with us coming out of this important ReFi moment:
- Web3 players operating within the VCM need to be better at working with incumbent and legacy players. Although Web3 is driving innovation like never before, we must carry others alongside us. For the VCM, this means engaging with carbon project developers, corporate off-setters, standard setters, and carbon registries. We cannot create parallel ecosystems. Real collaboration with existing players is the only pathway by which Web3 can help meet the world’s climate ambitions.
- The advantages of blockchain technology must be translated into tangible and real-world benefits. The Web3 ecosystem has a different lingua franca. We also have a tendency to speak in abstraction. When engaging with our stakeholders outside the Web3 or ReFi world, we must focus on what matters to them: the concrete benefits for them, their communities, or the environment. We must speak a common language.
- There is so much going on in the Web3 space, particularly ReFI, that is driving sustainability and impactful outcomes. Business models are being upended. Markets are being re-thought to be more transparent, efficient and decentralised — to the benefit of all. It’s fantastic to see the creative thought and innovation going into this space. It’s a great time to be alive.
The overall lesson being: be inclusive and work with all stakeholders in your respective ecosystems, focus and communicate with real-world impact, and continue harnessing the fantastic entrepreneurial energy emanating from this space.