Envision Blockchain Solutions Partners with HBAR Foundation to Digitize Carbon Markets
Web3 development protocol Envision Blockchain Solutions has teamed up with the HBAR Foundation to create a blockchain-based system for managing carbon markets. The collaboration, announced in a press release on December 4, aligns with Envision Blockchain’s commitment to innovation within its open Guardian framework. The partnership, formalized during the United Nations Climate Change Conference (COP28), will result in the development of an open-sourced Managed Guardian Service (MGS) platform.
MGS Platform Focuses on Carbon Markets
The MGS platform, powered by Hedera Hashgraph’s distributed ledger technology and the HBAR asset, aims to revolutionize the approach to addressing global climate change concerns. Envision Blockchain stated that the platform will solely focus on creating a digitized measurement, reporting, and verification (dMRV) framework for the carbon markets. It will offer various features and products to enhance transparency and efficiency in this space.
Enhanced Data Analysis with Project Data Comparison
In addition to digitizing and reporting measurement metrics, the MGS platform will include a Project Data Comparison feature. This feature will allow users to compare data recorded as Verifiable Credentials (VCs) and verify the authenticity of project information easily. The platform will also provide specific data points within the VCs called ‘property fields’ for a comprehensive view of project data. This initiative aims to increase transparency and traceability in environmentally-focused projects and help users make informed investment decisions.
Hot Take: Envision’s Partnership with HBAR Foundation Advances Carbon Market Digitization
The collaboration between Envision Blockchain Solutions and the HBAR Foundation represents a significant step towards digitizing carbon markets. By leveraging blockchain technology and Hedera Hashgraph’s DLT, the Managed Guardian Service (MGS) platform aims to enhance transparency, efficiency, and accessibility in addressing global climate change concerns. The inclusion of the Project Data Comparison feature further strengthens the platform’s capabilities by providing users with valuable insights and data for informed decision-making. This partnership demonstrates Envision Blockchain’s commitment to innovation within its open Guardian framework and its dedication to driving positive environmental impact through technological advancements.
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