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.”
South Korean’s First Pension Fund to Invest in Cryptocurrency ETF
Reasons Why Crypto Trading is the Most Profitable Side Hustle
Reasons why Cryptocurrency is the Future of Online Gambling
Is it possible to see Cryptocurrency Trading as a possible career?
Ripple Partners with Payypl, as the Firm Enters $78 Billion Mena Market
Recent Press Release
A Complete Set Of Steps That An Individual Has To Follow For Investing In Bitcoin!
Today many people wish to invest in the world’s most fantastic cryptocurrency that is bitcoins. The world is changing, and...
Steps That You Need To Take For Choosing The Best Bitcoin Exchange
Bitcoin is one of the most widely used cryptocurrencies, and there are some steps that you need to take for...
Best Bitcoin Wallets – Why Should You Use A Bitcoin Wallet?
Bitcoin wallets are digital programs that offer unique functionalities for storing bitcoins. You will be glad to know that the...
In What Ways Are People Using Bitcoins? – A Guide For Novices!
Bitcoin is a highly volatile cryptocurrency that provides its users a lot of benefits. There are some great uses of...
What is KYC in bitcoin, and why is it required?
KYC is mandatory on every platform. For example, when you open your bank account, they will ask you for your...