In a significant development unveiled at the 2023 United Nations Climate Change Conference (COP28), Envision Blockchain, in partnership with Hedera Hashgraph (HBAR), introduced groundbreaking solutions for managing carbon credits and emissions tracking. These innovative platforms, underpinned by blockchain and artificial intelligence (AI) technology, promise to reshape the landscape of environmental asset management and contribute to global sustainability goals.
A leap toward streamlined carbon credit management
Envision Blockchain’s Managed Guardian Service (MGS), leveraging Hedera Hashgraph’s blockchain, is designed to simplify the creation and management of digital environmental assets, particularly carbon credits. The primary aim is to inject efficiency and transparency into the voluntary carbon market, making it more accessible and trustworthy. Massamba Thioye from the UN Climate Change Secretariat lauded these enhancements, recognizing their potential to revolutionize climate change mitigation methodologies.
The platforms introduced at COP28 bring a suite of advanced features, including the digitization of UNFCCC methodologies. This digitization is a critical step in standardizing emissions reduction calculations for carbon credit projects, ensuring that reporting remains consistent and accurate across the sector.
Envision Blockchain’s platform distinguishes itself with its AI-guided search function, which empowers users to navigate extensive environmental methodology libraries efficiently. Notably, this includes the UNFCCC’s Clean Development Mechanism (CDM) Methodology library. By utilizing AI to filter and present relevant methodologies based on user queries, the platform simplifies the selection process for appropriate methodologies for carbon credit projects.
The platform offers a Project Data Comparison feature that enhances the analysis of environmental project data. It addresses critical issues like double counting and bolsters transparency by allowing users to compare data recorded as Verifiable Credentials (VCs). VCs, digital certificates containing validated information about environmental projects, ensure the integrity and reliability of data.
An important milestone achieved through this collaboration is the integration of the Global Blockchain Business Council’s (GBBC) dMRV Specification into the Guardian platforms. This specification outlines digital reporting and verification standards for carbon data, promoting alignment among various stakeholders in the carbon market. This fosters the adoption of common standards and practices across the industry.
The partnership between Hedera Hashgraph and Envision Blockchain, with the support of the United Nations, signifies a pivotal moment in leveraging blockchain technology to advance environmental sustainability. These innovations promise to revolutionize carbon credit management, offering a more transparent, efficient, and reliable system to address the pressing global challenges of climate change.
Blockchain and AI solutions unveiled at COP28 for a greener future
Envision Blockchain, in collaboration with Hedera Hashgraph (HBAR), unveiled pioneering environmental asset management solutions at the 2023 United Nations Climate Change Conference (COP28). These cutting-edge emissions tracking and carbon credit platforms, powered by blockchain and artificial intelligence (AI) technology, mark a significant step towards digitizing and enhancing carbon credit management while aligning with global sustainability objectives.
Envision Blockchain’s Managed Guardian Service (MGS), built on Hedera Hashgraph’s blockchain technology, is designed to streamline the creation and management of digital environmental assets, including carbon credits. The primary goal is to inject efficiency and transparency into the voluntary carbon market, making it more accessible and dependable. Massamba Thioye from the UN Climate Change Secretariat commended these developments for their potential to revolutionize climate change mitigation methodologies.
Advanced features for emissions tracking
The platforms unveiled at COP28 introduce a range of advanced features, with a key highlight being the digitization of UNFCCC methodologies. This digitization is pivotal in standardizing emissions reduction calculations for carbon credit projects, ensuring consistent and accurate reporting practices across the sector.
Envision Blockchain’s platform boasts an AI-guided search function that empowers users to efficiently navigate extensive environmental methodology libraries, such as the UNFCCC’s Clean Development Mechanism (CDM) Methodology library. This innovative feature streamlines the selection of appropriate methodologies for carbon credit projects by presenting relevant options based on user queries.
The platform offers a Project Data Comparison feature, facilitating more effective analysis of environmental project data. This feature addresses issues like double counting and enhances transparency by enabling users to compare data recorded as Verifiable Credentials (VCs). VCs, digital certificates containing validated information about environmental projects, ensure
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