Express

Microsoft-Backed Initiative Uses Blockchain To Solve “Double-Spending” Issue of Carbon Credits

Lily Yang

Summary: As a tech-agnostic token standardization initiative based on Enterprise Ethereum Alliance, The InterWork Alliance (IWA) is developing blockchain solutions to bring transparency to carbon accounting, as reported by Coindesk. Double counting problem has been existing in industries for a long time, as Microsoft blockchain architect and IWA chairman Marley Gray noted: “There’s no way right ...

As a tech-agnostic token standardization initiative based on Enterprise Ethereum Alliance, The InterWork Alliance (IWA) is developing blockchain solutions to bring transparency to carbon accounting, as reported by Coindesk.

Double counting problem has been existing in industries for a long time, as Microsoft blockchain architect and IWA chairman Marley Gray noted: “There’s no way right now for you to determine that a tree hasn’t been sold 100 times over.”

Beginning from voluntary carbon offsetting, the IWA group is planning to create a standardized framework for tokenization and then extend to regulated markets.

By Lily Yang

Last Update:

Tags: ,
Link: Microsoft-Backed Initiative Uses Blockchain To Solve “Double-Spending” Issue of Carbon Credits   [Copy]
  • The GENIUS Act & Stablecoin Regulation: BRG's Dominic Zagara on Crypto's Defining ... 3 hours ago
  • Bitcoin Weekly Analysis: Volume-Price Divergence and High-Level Consolidation Anticipat... 3 days ago
  • Will Introduction of the Stablecoin Act Trigger a Financial Tsunami? 4 days ago
  • Trump Just Opened the Floodgates: What Happens When $9 Trillion in Retirement Money Hit... 7 days ago
  • US Crypto Stash Shock: Marshals' Low BTC Count Fuels 'Secret Sale' Debate, Ignites Buyb... 8 days ago
  • You need to login to comment.