Blockchain Technology Now to be Used For Tracking Carbon Emissions
The independent international organization the World Economic Forum (WEF) is exclusively focused on its aim to promote the cooperation between public and private sectors. For this purpose, it has worked on various projects. Among these projects, one is called the Mining and Metal Blockchain Initiative (MMBI).
Completion of Proof of Concept name Carbon Tracing Platform
This project aims at using distributed ledger technology (DLT) for tracing carbon emissions across the value chain. According to an official press release of the World Economic Forum issued on the 15th of December, proof of concept has been released by the Mining and Metal Blockchain Initiative dubbed as Carbon Tracing Platform (COT).
Following the introduction of this platform in October 2019, the completion of COT is a significant achievement on the part of the World Economic Forum and other business firms that collaborated on this project. Moreover, Consortium Advisor Susan Joseph and Dutch blockchain champion Kryha also contributed to the development of this platform.
COT has been designed using blockchain technology and will help in tracing carbon emissions. The main purpose of this platform is to make sure that the emissions’ traceability remains there from the process of mining to the final product.
Increasing demand for traceable supply chains
Commenting on this significant development, the Head of Mining and Metals Industry at World Economic Forum Jörgen Sandström said in a statement that the demand for traceable and sustainable supply chains is increasing now. As Sandstrom stated:
“There is an increasing demand for metals and minerals, and increasing demand for sustainable and responsible and traceable supply chains. There is a potential to create a full value chain view with downstream visibility, and in partnering with regulators and aligning our work with robust ESG standards, sustainability certification schemes, and assurance frameworks.”
SEC Draws Criticism as it Responds to Ripple’s Letter of Supplemental Authority
Ripple Move 120 Million XRP Tokens Following a Recent Price Hike
Ripple Gets Support from the Former Critic Ryan Selkis, the CEO of Messari
UK Government Brings Greater Clarity to Crypto Industry with New Tax Forms
Bitcoin Beats All Odds: Surges Past $26,000 Despite Looming Banking Crisis
Recent Press Release
Involving Bitcoin For Online Health And Wellness
The continuous discussion of cryptocurrency in the world of Corporate Wellness is initiated with a unit to create awareness. Before...
The Primary Challenges Limiting Bitcoin Adoption
The first step to overcoming any challenge is understanding what is at the heart of the issue. Bitcoin has been...
Why Comparing Bitcoin Prices Saves You Money?
For anyone interested in investing in cryptocurrency, surely the thought of deciding which asset to purchase must be maddeningly hard....
Makler Game. Play the game and learn trading
We want to tell you about an interesting game that has appeared on the Internet and which will not only...
Bitcoin Trading: Advice and Methods for Novices
You could be questioning how to begin trading, whether you’re entirely new to the Crypto assets field or have a...