At COP28, Gina Torres from the Climate Warehouse project shared more about the World Bank’s open-source Core Registry at the “D4C: Building End-to-End Digital Ecosystem for Carbon Markets” session.
The World Bank developed an open-source Core Registry aligned with Article 6 of the Paris agreement integrated with CAD Trust.
This provides an end-to-end solution for tracking, accounting, issuance and transaction of carbon credits, tokenizing on Chia blockchain.
On December 4, 2o23, the country of Bhutan will be launching their National Carbon Registry based on this open source Core Registry!
The Core Registry consists of three key applications:
- Tokenization Engine: converts carbon credits into a native Chia Asset Tokens (CATs).
- Climate Wallet: Secure storage and transfer of these carbon assets between entities.
- Climate Explorer: Automatically detects and records carbon credit issuances and retirement.
“This whole end-to-end process of tokenizing carbon credits not only gives us fractionalization and potential liquidity, but because it’s running on the (Chia) blockchain it also gives us transparency and traceability of transactions … and finally it also enhances the democratization of access, it enables broader access by investors and different stakeholders of the market.” said Gina Torres during the presentation.