Google, Meta Join Forces
Google, Meta, and crypto analytics firms unite to combat illegal wildlife trade at Prince William's forum
Major technology and cryptocurrency companies pledged to combat the illegal wildlife trade during London Climate Action Week, according to a report released on Monday.
A Concerted Bid To Save Wildlife This commitment was made at a business forum convened by Prince William and The Royal Foundation’s United for Wildlife, reported Reuters.
Blockchain analytics and payment companies, including PayPal Holdings Inc. (NASDAQ: PYPL ) , TRM Labs, Chainalysis , and Luno , have committed to “disrupt financial flows” that support this illicit trade.
In addition, tech heavyweights such as Alphabet Inc. (NASDAQ: GOOG ) (NASDAQ: GOOGL )-owned Google , Meta Platforms Inc. (NASDAQ: META ) , TikTok , and Alibaba Group Holding Ltd (NYSE: BABA ) pledged to halt trafficking on their platforms.
A Growing Menace Illicit wildlife trade generates an estimated $7 billion-23 billion each year, according to the Global Environment Facility, placing it among the major global criminal markets alongside narcotics and human trafficking.
According to Chainalysis, funds generated by wildlife trafficking can be converted into cryptocurrencies, transferred across borders quickly, and cashed out via exchanges.
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