• EIT Climate-KIC is a knowledge and innovation community (KIC) working for a low-carbon economy.
• The company will work with Edgeryders, ETH Zurich and IOTA to fight climate change in Europe.
• The entanglement of IOTA was chosen because it can transfer value without impacting the environment.

The EIT Climate-KIC has recently stated that it will work with Edgeryders, ETH Zurich and IOTA to tackle climate change in Europe. EIT Climate-KIC is a European Knowledge and Innovation Community (KIC) which works for a low-carbon economy by harnessing innovation and building capacity. Through systematic interventions, the company aims to change mentalities and behaviors for long-term economic and climate change. 

An important part of the new partnership is to redefine economic value using blockchain technology and focusing on long-term in-depth demonstration. While the curfews and blockages caused by the coronavirus pandemic should soon be lifted, the emergence of a "new normal" and of a societal reorganization that is imminent. A change will require a reassessment of the guiding values. 

EIT Climate-KIC chose TOTAL from IOTA as the base layer where communities can confidently create and transfer value without affecting the environment. The ETH Zurich contribute to the Community incentives and launch new solutions such as the personal data of markets for the first implementations. Edgeryders will be responsible for creating policies through which a deployable business model can be moved across a system without permission.

Marcus Dapp of ETHZ University, says: 

Instead of a one-dimensional, monopolistic monetary system, we need to consider multidimensional incentives to create more robust financial systems, and we need decentralized communities rather than monopolies to create and distribute currency.