April 19, 2024
Blockchain at COP28 Pushes for Decentralized Climate Markets
Latest Cryptocurrency News

Blockchain at COP28 Pushes for Decentralized Climate Markets

Blockchain and crypto initiatives participated in COP28 in Dubai, unveiling projects addressing climate change. From Nov. 30 to Dec. 12, the UN Climate Change Conference saw global leaders and diplomats gathering in Dubai. Blockchain projects, believing in the technology’s potential for climate action, showcased various initiatives during this significant climate summit.

Envision Blockchain and the HBAR Foundation collaborated with the UN on Dec. 4 to launch an open-source Managed Guardian Service platform. Built on Hedera Hashgraph, the platform focuses on digitized measurement, reporting, and verification (dMRV) for carbon markets, aiming to revolutionize them with blockchain.

On Dec. 5, the Technology Innovation Institute (TII) introduced a blockchain-powered platform for verifiable carbon trading. Developed by TII and built on blockchain, the platform ensures transaction integrity, user privacy, auditability, and transparency, facilitating confident carbon trading and encouraging green investments.

Another collaboration between Allcot IO, the Carbon Opportunities Fund, and Tolam Earth, announced on Dec. 7, aims to create digital carbon credits using Hedera’s Guardian open-source platform. This initiative seeks to enhance transparency in climate finance and develop environmental assets with verifiable digital attributes.

KuCoin, a crypto exchange, contributed to climate action by donating $100,000 on Dec. 7 to projects addressing climate change and sustainable development. The donation supports initiatives protecting children from pollution, providing solar-powered lights in Africa, and assisting young women from socially disadvantaged communities.

Looking beyond COP28, DLT Earth announced a hackathon on Dec. 6 for developing digital climate methodologies. The DLT Science Foundation and HR will host a 12-week virtual hackathon, starting Jan. 8, to bring transparency to climate market assessments.

Overall, these blockchain and crypto initiatives showcased a commitment to leveraging technology for climate action, offering innovative solutions to address environmental challenges.

Image by Freepik

Related posts

Binance Halts UK User Registrations Due to FCA Mandate

Eva Moore

Founder Barry Silbert Steps Down from Grayscale Board

Kevin Wilson

Doom from the ’90s Now on Dogecoin Blockchain

Harper Hall

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More