What do cryptocurrencies and carbon credits have in common? It’s not the beginning of a joke… Instead, there are genuine similarities that one fund manager has eluded to.
Initially kicked off in 2009 with the creation of Bitcoin , it has taken over a decade of building an entire ecosystem to bring crypto to the masses.
However, it wasn’t until 2012 that Australia brought in the Carbon Pricing Mechanism, which is the country’s form of an emission trading scheme.
Following a few years after the origination of crypto, Cleary expects carbon credits will likely take a similar route to adoption.
It’s got a long track record of project development, particularly on the mining side.
That’s much like the early days of Bitcoin trading, which would sometimes involve meeting in person and exchanging details.
You can buy crypto on your iPhone, you can get derivatives, margin, open accounts in minutes.
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