Did you know that the country of Bhutan just onboarded onto the Chia blockchain? As the world’s first carbon-neutral country, they are working with the World Bank’s Climate Warehouse project to set up infrastructure to implement Article 6 of the Paris Agreement with the Chia Blockchain.
Leveraging drones and satellite data to monitor land and forest cover over time allows Bhutan to accurately track their carbon credits and offsets.
Importantly, this data is publicly logged with the Climate Action Data Trust (CAD Trust) run on #Chia’s DataLayer.
CAD Trust is the global metadata layer that is becoming the source of truth for all carbon projects as the biggest certifiers like VerraStandards and Gold Standard bring their active projects onboard.
This is a true compelling use of blockchain.
Next step is tokenization and retirement. Although we’ve already seen this happen earlier this year on the #Chia blockchain, the carbon credit tokenization can actually be done on *any* chain and just the metadata needs to be logged on CADTrust.
But there are very compelling reasons to do the tokenization natively on #Chia.
- Leverage Chia’s Offer Files to sell/trade these credits P2P on the most decentralized blockchain.
- It’s easy to mint carbon CATs with the Carbon Tokenization Engine!
A suite of applications (incl. Carbon Tokenization Engine) has been developed by Chia for the World Bank to let countries like Bhutan easily engage in a new global on-chain carbon credit economy powered by the #Chia blockchain and Offer Files based marketplaces!
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