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World Bank Program Looks to Blockchain to Solve Carbon Emissions Data Issues

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Carbon emissions from a manufacturing facility.

The World Bank Climate Warehouse, which launched in the spring of 2018, aims to deliver the next step in carbon-tracking with help from blockchain startups.

Credit: Luke Sharrett/Bloomberg

The World Bank's Climate Warehouse program is consulting with cryptocurrency startups like the Chia Network to build a "public-good layer" for climate. Chia's

Gene Hoffman said the layer would impart trust and transparency by sitting atop a blockchain, and allow countries and groups to disclose and vet carbon assets in a centralized fashion.

Chia's data layer harnesses its permissionless public blockchain to allow project peers to exchange data in an auditable manner without ceding control of the data owned by each peer.

Nations using the platform could indicate compliance with the Paris Agreement on reducing carbon emissions by submitting a verifiable dataset.

From Bloomberg Green
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