A bill has been proposed in the Rhode Island House of Representatives (USA) that would credit a house builder in green coin cryptocurrency for reducing the carbon footprint of the project.
If passed, it will be called the Green Housing Public-Private Partnership Act, informs the portal Gadgets 360.
Under the bill, any real estate project that proves to be carbon efficient will be given a certain amount of green coin token.
It is not yet clear which energy efficient blockchain network will be chosen to support this green coin. It will likely be the less costly Proof of Stake (PoS) network favored by mainstream environmentalists these days.
The money for this initiative will come from donations of $500 million from local private banks and $125 million from the state. If the fund is created, it will be called the "Green Housing Fund".
The bill comes at a time when demand for housing in Rhode Island has surged in recent months. With their initiative, the authorities seek to ensure that construction is in line with the environmental goals of the region.
However, this is not the first time cryptocurrencies have been included in real estate projects. Austin, Texas, a program called USDC.homes, provides loans to new home owners in USDC and MATIC altokines. This gives new homeowners the opportunity to make an upfront deposit in staking cryptocurrency to earn the borrower an amount of interest that can be used to pay off the principal.
Before EcoPolitica reported that on the island of Taiwan in the city of Taipei is coming to an end construction of a unique skyscraper. A spiral building in the form of a DNA strand will be able to absorb up to 130 tons of carbon dioxide.