Blockchain Projects Join Climate Action Effort at COP28
As the 2023 United Nations Climate Change Conference (COP28) takes place in Dubai, United Arab Emirates, many projects are launching blockchain-powered initiatives to contribute to the climate action effort. From waste management to carbon emissions tracking, blockchain projects are participating in the world’s most significant climate summit.
Bringing Transparency to Climate Finance
Envision Blockchain and the HBAR Foundation have partnered with the United Nations to create a decentralized technology platform called Managed Guardian Service. Built on Hedera Hashgraph, this platform aims to streamline carbon markets and enhance transparency in climate finance. Additionally, the Technology Innovation Institute (TII) unveiled a blockchain-powered platform for verifiable carbon trading that promotes green investments and net zero emissions.
Creating Digital Carbon Credits
Allcot IO, the Carbon Opportunities Fund, and Tolam Earth have formed a partnership to develop digital carbon credits. Using the Guardian open-source platform powered by Hedera’s distributed ledger network, this initiative seeks to foster a sustainable future and promote transparency in climate finance. The assets created will have verifiable digital attributes that support the positive environmental impact of projects.
Contributions to Climate Action
KuCoin, a crypto exchange, recently donated $100,000 to multiple projects addressing climate change and sustainable development. The funds will be used to protect children from pollution, provide solar-powered lights in Africa, and support socially disadvantaged women. DLT Earth also announced a hackathon event for developing digital climate methodologies in collaboration with HR and the DLT Science Foundation.
Hot Take: Blockchain Projects Drive Climate Action at COP28
As COP28 brings together leaders from around the world to advance climate action initiatives, blockchain projects are leveraging their technology to make a positive impact. By providing transparency in climate finance, tracking carbon emissions, and fostering sustainable development, these initiatives are crucial in the fight against climate change. The involvement of blockchain projects in COP28 demonstrates the growing recognition of blockchain’s potential in addressing global challenges and creating a more sustainable future.
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