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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

    Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

    Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

    Why a ‘Mobile-First’ Mentality Drove OpenSea’s Latest Acquisition

    Why a ‘Mobile-First’ Mentality Drove OpenSea’s Latest Acquisition

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    Hype fades as NFT platforms lose users

    Hype fades as NFT platforms lose users

    OpenSea Revolutionizes Mobile Trading with Rally Wallet Acquisition

    OpenSea Revolutionizes Mobile Trading with Rally Wallet Acquisition

    Donald Trump Had Said, ‘The US Government Will Not Sell Cryptocurrency From Now On,’ But Something Strange Is Going On — Onchain Data Shows…

    Donald Trump Had Said, ‘The US Government Will Not Sell Cryptocurrency From Now On,’ But Something Strange Is Going On — Onchain Data Shows…

    What are Floki’s Flokitars?

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    ChatGPT vs X: Who Sees Crypto Narratives First?

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    Why AAA Game Studios Will Eventually Embrace NFTs

    Blazpay and Onmi AR Unite to Elevate Web3 Gaming Experience

    Blazpay and Onmi AR Unite to Elevate Web3 Gaming Experience

    Floki’s Valhalla Surpasses 100K Veras Minted Within Days of Launch

    Floki’s Valhalla Surpasses 100K Veras Minted Within Days of Launch

    Gear Runner Integrates with Meta Arena to Deliver Gamified Real-World Activity and Move to Earn for GameFi Fans

    Gear Runner Integrates with Meta Arena to Deliver Gamified Real-World Activity and Move to Earn for GameFi Fans

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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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    ETH Daddy Discusses Ethereum and AI

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    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

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    UAE emirate launches new free zone for digital assets, Web3 and AI

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  • Guides
    What Is Copy Trading in Crypto? A Beginner’s Guide

    What Is Copy Trading in Crypto? A Beginner’s Guide

    A Step-by-Step Guide for Risk-Takers

    A Step-by-Step Guide for Risk-Takers

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

    How It Works and What to Watch Out For

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    Crypto Risk Management Strategies for Trading (2025)

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    What Is Crypto Staking? How to Earn Crypto by Holding It

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    What is Dollar-Cost Averaging (DCA) in Crypto? A Beginner’s Guide

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    What Is Liquid Staking? How It Works & Why It Matters in Crypto

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    What are Rollups in Crypto? ZK Rollups and Optimistic Rollups Explained

  • Analysis
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Home Blockchain

UAE Tech Researchers Roll Out Lightweight Blockchain for Carbon Trading

December 8, 2023
in Blockchain
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UAE Tech Researchers Roll Out Lightweight Blockchain for Carbon Trading
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Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission.

The Technology Innovation Institute in Abu Dhabi has launched a blockchain geared towards tracking carbon emissions and facilitating trading amid growing climate concerns.

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In a Dec 5 post on X (Twitter), the institute disclosed that its Cryptography Research Center has launched the blockchain as it represents the country’s commitment and drive to leading the world’s climate narrative.

Our Cryptography Research Center (CRC) today launched its very own blockchain-powered carbon trading platform to facilitate international trade in carbon tokens. pic.twitter.com/0ablTqxfbY

— Technology Innovation Institute (@TIIuae) December 5, 2023

“Our Cryptography Research Center (CRC) today launched its very own blockchain-powered carbon trading platform to facilitate international trade in carbon tokens.”

The new revelation comes during the United Nations Climate Change Conference (COP 28) with pledged pledges to lower emissions and steer multiple sectors towards greener energy.

Utilizing the concept of carbon trading and tracking will give firms the right idea of their environmental impact and its deployment on the blockchain means it is public, encouraging wider participation which will drive bigger players to fulfill all promises.

Carbon tracking to reduce emissions

According to the statement, the projects will allow for the trade of carbon tokens internationally, monitor greenhouse projects, and incentivize platforms to participate to lower emissions as a whole.

See also  Hedera and Blockchain Foundation Kickstart Nationwide Educational Crusade

Organizations record their emissions on the network in a manner open for all spurring users to create tokens that measure carbon removed from the company’s operation either through capture or trading.

Developed as a lightweight blockchain, its operation has been described to minimally affect the environment as it aids climate action as part of the wider goals of the government.

The network will also have auditors to make the entire process safe, transparent, secure, and accurate.

Over the years, the United Nations and several international organizations have tipped blockchain technology to solve real-world issues like climate change through tracking emissions and global carbon trading.

As a result of the openness of the technology, the industry will have the right data on their activities without relying on third-party expert monitoring which may be cumbersome while costing more.

Another positive of utilizing distributed ledger technology (DLT) to tackle climate change is community participation in solving modern problems with modern solutions.

Blockchain projects go green

In line with global objectives and criticism of the sector’s energy usage, certain blockchain firms have made a switch to greener energy or changed their mode of operations.

Most notable was recorded in 2021 when the Ethereum blockchain transitioned to a Proof-of-Stake model reducing its carbon footprint by 99% as it got rid of miners replacing them with validators.

The network also launched the Ethereum Climate Platform (ECP) aimed at bringing industry players and traditional tech firms to reduce emissions, a move that has gained significant participation from Microsoft and other firms. On Dec 6, OKX Ventures, an arm of OKX crypto exchange joined the ECO to partner with industry leads in curbing climate change.

🤝 OKX Ventures has joined the Ethereum Climate Platform to partner towards sustainable climate goals.#CryptoNews #Ethereum #OKXhttps://t.co/zFvP0QaVYi

— Cryptonews.com (@cryptonews) December 6, 2023

Furthermore, cryptocurrency companies have released funds for the creation of solar-powered digital asset projects incentivizing developers to go green.

See also  Crypto’s Future: KuCoin’s Oliver Stauber Stresses Trust and Tech at 2025 HODL Summit

Tags: BlockchainCarbonLightweightresearchersrollTechTradingUAE

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Wall Street insiders hopeful about new banking infrastructure built on blockchain

December 20, 2023

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