Since BTC seems to create insane incentives to consume energy - I've been wondering if it would be possible to create an arbitrary cryptocurrency whose "mining" is tied to the verified removal of C02 from the atmosphere. Instead of getting governments to set a price for the carbon, consumer demand for the currency would drive the demand.
Kim stanley robinson’s “ministry for the future” discusses something similar to this dubbed “carbon coin” at some length, together with possible pros, cons, issues, opposition, etc. Worth the read.
Interesting thought - not quite sure how to develop it into a viable concept though. We are working on technology to capture CO2 from seawater while simultaneously producing green hydrogen from seawater without desalination using off shore wind energy ( initially mostly surplus). We are pre-seed pre-revenue but with lots of interest from offshore wind operators particularly since Biden's ambitious plan. If said currency could help fund scaling such technologies... just wondering