UAE Launch Blockchain Carbon Trading Platform
Abu Dhabi’s Technology Innovation Institute (TII) has launched a blockchain-powered carbon tracking and trading platform, aiming to lower emissions towards net zero. The platform, unveiled at the United Nations Climate Change Conference (COP28), will enable the international trade of carbon tokens linked to investments in green projects like forestation and carbon capture.
The platform, built by TII’s Cryptographic Research Center, can track carbon emissions from any worldwide public or private organization. The UAE Vision 2021 aims to strengthen the country’s economy and promote a sustainable environment for quality living. Users can create tokens measuring the amount of carbon dioxide removed from the environment, which can be tracked throughout the supply chain journey.
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