WEF tests tracking carbon emissions with blockchain technology
A new proof of concept shows how blockchain increases value across the supply chain. The World Economic Forum is progressing with its blockchain-based project tracking of greenhouse gas emissions.According to a Dec. 15 announcement, the WEF’s Mining and Metals Blockchain Initiative, or MMBI, has released a proof of concept to trace carbon emissions for mining and metals firms. The initiative is a collaboration between the WEF and seven industry companies: Anglo American, Antofagasta Minerals, Eurasian Resources Group, Glencore, Klöckner & Co, Minsur, and Tata Steel.The project was....
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Carbon markets turn CO2 emissions into a commodity or tradable asset by giving it a price. Blockchain and smart contracts will improve those markets. The United Nations Climate Change Conference, known as COP26, in Glasgow, Scotland catalyzed a commitment to carbon neutrality, achieving net-zero carbon emissions, requiring reducing emissions as much as possible, and balancing the remaining emissions with the purchase of carbon credits.A carbon credit reduces, avoids or removes carbon emissions in one place to compensate for unavoidable emissions somewhere else through certified....
On Friday, the Latin American cryptocurrency platform Bitso announced that the company plans to offset carbon emissions from its bitcoin and ERC20 token transactions carried out on the platform. Bitso is partnering with the carbon offset platform Moss.Earth in order to curb the crypto company’s environmental impact.
Bitso to Offset Crypto Transaction Carbon Emissions by Partnering With Moss.Earth
In mid-February, the Mexico-based cryptocurrency exchange Bitso revealed it was expanding into the Colombian market after witnessing a growing interest in the Latin American....
Blockchain can bring transparency and traceability to mining and metal supply chains, although data challenges may hamper successful use cases. Blockchain for supply chain management is one of the most practical business applications for large, multi-party sectors seeking trust and transparency across daily operations. As such, the mining and metals sector has now started to leverage blockchain technology to effectively track carbon emissions across complex, global supply chains. This month, The World Economic Forum launched a proof-of-concept to trace carbon emissions across the supply....