12 Dec Blockchain alliance aims to track carbon credits to fight climate change
Carbon credits are a common mechanism used to help cut carbon dioxide emissions that fuel climate change, and now there’s a blockchain technology project to try to improve the idea. Veridium Labs, with assistance from IBM, has launched a blockchain network designed to track how companies or other entities buy and sell carbon credits. Carbon credit systems cap allowed carbon dioxide releases but let companies that don’t reach the cap sell credits to those who go over. Carbon credit systems also let companies pay others that do things like plant forests to offset their carbon emissions.
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