MakerDAO to pivot back to ETH as co-founder hopes to address climate change

MakerDAO co founder Rune Christensen has shared his beliefs that the protocol could be the needed vehicle to address climate change
MakerDAO co founder Rune Christensen has shared his beliefs that the protocol could be the needed vehicle to address climate change

MakerDAO co-founder, Rune Christensen has shared his beliefs that the protocol could be the needed vehicle to address climate change. He shared this in a lengthy post submitted to the MakerDAO governance forum on October 5.

MakerDAO co-founder plans to address climate change and pivot back to ETH

According to MakerDAO co-founder Rune Christensen, he thinks the protocol should strive hard in ensuring that all if its collateral is made up of assets that are environment friendly. That is, the firm must always consider the long-term effects if its financial activities, in the environment.

In achieving this, Christensen opines that the protocol must start investing its collaterals into sustainable real-world assets (RWAs). He explains further that MakerDAO can do this, by taking senior credit positions in projects that build wind turbines, batteries, recharging stations, solar farms, and other renewable energy solutions. He then added that his firm can even take over supply chains as well by investing in sustainable resource extraction and recycling.

In his statement, Christensen revealed that MakerDAO already has everything it needs to begin scaling RWA exposure. He boasts of cash to the tune of hundreds of billions of USD and even more, which he claims to be in full compliance with financial regulation.

MakerDAO must go back to ETH— Co-founder

Meanwhile, Christensen also says MakerDAO must return to its commitment to decentralized collateral. That is, the protocol must go back to relying on the Ethereum network and Ether token.

Initially, MakerDAO was giving support to Ether only. However, since its expansion, it has gone on to support many more assets. With the likes of Wrapped Coin, Basic Attention Token, and the USD Coin all being supported at the moment.

What are your thoughts and opinions about Christensen’s views? You may please share in the comments section below.