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.
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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