XELS Launches Eco-Conscious Blockchain Platform for Carbon Offset Credits
Bitcoin Press Release: Blockchain-based carbon offset platform XELS provides global access to the decentralized carbon market and its ERC20 token will launch on Bittrex Global on April 8th, 2021.
7th April 2021, Tokyo, Japan — XELS is one of the leading startups tackling climate change by increasing participation and transparency in carbon markets, listed its eponymous XELS token on Bittrex Global on April 8th, 2021.
Tokenized Carbon CreditsXELS will provide both businesses and individuals access to a blockchain-based carbon offset platform, initially focused on tokenized voluntary carbon offset credits. These credits are increasingly attractive to companies that want to show consumers they’re serious about reducing their carbon footprint.
Tackling Fraud With BlockchainSince the birth of carbon markets following the Kyoto Protocol and Paris Agreement, fraud has hindered the effectiveness of carbon credit sales and trading. Bad actors sometimes sell fake or expired credits, and “recycling” fraud had led to the double spending of unretired credits. Carbon markets are the perfect use case for blockchain’s distributed ledger technology, as transactions cannot be modified, reversed, or duplicated. Tokenized carbon credits can also be “burned,” with a public transaction hash proving it has been retired forever.
XELS founder and CEO Takeshi Nojima explains the XELS vision:
“We believe that decentralization is the only way that carbon markets can work effectively. XELS will enable the industry to maintain open, transparent records – from generation, to sale, to retirement. Making it easy for corporations to transparently offset their carbon without fear of fraud will make them even more willing to combat global warming, and it will pay dividends as far as consumer trust that they’re truly intent on making a difference for the environment.”
The XELS TokenXELS will exist as a platform token that will be used to access a future suite of stablecoins that are pegged to various industry-standard voluntary carbon offset credits. In the future, the company also seeks to offer “compliance” credits, which are heavily regulated under national cap and trade agreements.
Japan lags behind European nations, where businesses are compelled to buy compliance credits to avoid heavy taxes. XELS is already in talks with numerous listed companies in Japan that are keen to get on board with Prime Minister Yoshihide Suga’s target of reaching net zero domestic emissions by 2050.
Reducing Blockchains Carbon FootprintWhile XELS will exist as an ERC20 token at launch, the company is cognizant of concerns surrounding the high energy consumption associated with Ethereum, Bitcoin, and other cryptocurrencies.
Later this year, XELS will migrate to a proprietary, low-energy blockchain that the company has been developing since 2017. XELS Chain takes a hybrid proof-of-stake and proof-of-work approach, while enabling users to run a full node on a basic laptop without the need for power-hungry mining hardware
From April the 8th, 2021 the XELS platform token will be available to trade on leading cryptocurrency exchange Bittrex Global.
Businesses or individuals interested in accessing the decentralized carbon market of the future with XELS, can contact [email protected] for more information.
Media Contact Details
Contact Name: Mitch Hammer
Contact Email: [email protected]
Contact Phone: +81 80 9400 0536
Learn more about XELS – https://www.xels.io/
Buy XELS on Bittrex Global – https://global.bittrex.com/
Follow XELS on Twitter – https://twitter.com/xels_PR
Join the XELS community on Telegram – https://t.me/xelscoin
Find XELS on Facebook – https://www.facebook.com/XELS-COIN-1867938109912219/
XELS is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
About Bitcoin PR Buzz
Bitcoin PR Buzz has been proudly serving the crypto press release distribution needs of blockchain start-ups for over 9 years. Get your Bitcoin Press Release Distribution today.
Source
Related News
Bitcoin Press Release: Redshaw Advisors will support XELS mission of increasing participation in carbon markets in Japan and beyond. 30th April, Tokyo, Japan — XELS, a revolutionary blockchain-based carbon offset platform has announced that it has joined forces with renowned carbon brokerage and risk management firm Redshaw Advisors. Under the collaboration, Redshaw Advisors will provide […]
PRESS RELEASE. Redshaw Advisors will support XELS mission of increasing participation in carbon markets in Japan and beyond. Tokyo, Japan — XELS, a revolutionary blockchain-based carbon offset platform has announced that it has joined forces with renowned carbon brokerage and risk management firm Redshaw Advisors. Under the collaboration, Redshaw Advisors will provide strategic advisory, consulting, and procurement of carbon credits for XELS. Immutable Carbon Offsets Initially focused on the voluntary carbon credit segment, XELS launched its blockchain platform and eponymous digital....
My Clean Sky, an innovative company out of Australia led by CEO Guy Lane, allows users around the world to offset their carbon emissions. Every time you drive or take a plane from point A to point B, you are creating excess carbon and contributing to global warming. In fact, every minute your computer runs, every time you download the blockchain: Carbon is emitted. Most of us have accepted this fact and don't think twice about it because not using cars, planes, or computers is not a possibility. For those whom would still like to quiet their burning conscious, My Clean Sky provides an....
With the negative stigma surrounding the amount of energy cryptocurrency uses, it’s about time crypto projects step up and start to make a difference from inside the industry. One project that entirely focuses on helping crypto go green is IMPT – a blockchain-based carbon credit ecosystem. Putting Carbon Credits on the Blockchain IMPT’s mission is to positively impact the environment by connecting socially responsible brands with businesses and individuals seeking to reduce their carbon footprint. In addition, they intend to provide a straightforward method for users to....
“Combine a digital asset with a rainforest carbon offset and give everyone in the world access." An alliance of crypto firms is introducing tokenized carbon credits for individuals to offset the amount of carbon dioxide they contribute. According to a Dec. 1 announcement, the Universal Protocol Alliance, or UPA, has launched a tradable carbon token on a public blockchain. The UPA stated that crypto users can “burn” the Universal Carbon token, UPCO2, to offset their carbon footprint. However, they also have the choice of holding the tokens, or trading them like any other digital asset using....