by Gene Hoffman, CEO & President
Recently, we introduced the notion of One Market, our vision for a more efficient and secure way to trade assets that have poor accessibility and liquidity or are subject to arbitrary and obscure rules. We believe that markets, as they exist today with opaque, slow processes–should be improved.
But change requires action.
So today, we (Chia Network), in partnership with EcoRegistry, a global registry platform known for its scalable digital technology and innovative solutions to drive climate action, listed high-quality, tokenized Carbon Credits. These are listed as Offers – the native peer-to-peer exchange capability that powers One Market. They can easily be viewed at Dexie or programmatically accessed via Splash! for purchase and retirement by anyone, anywhere, and available 24×7.
“We’re driving an important climate change mitigation effort through broader access to high-quality carbon credits using tokenization,” said David Juan Duran Hernandez, CEO of EcoRegistry. “Using Chia’s technology, together we’re democratizing access for project developers and buyers through an open digital ecosystem driving further investment in high-quality carbon projects while simultaneously ensuring the integrity of their authenticity, provenance, ownership.”
Why Carbon Credits?
We’ve long maintained that the carbon market suffers from a set of specific challenges that our technology can alleviate, including poor discovery, insufficient transparency around quality and provenance, and basic market inefficiencies due to fragmentation. Accessing these credits can be difficult, and the market’s unique processes add complexity. That’s why we think it’s a great place to demonstrate the real impact of One Market.
All tokenized carbon credits are tracked on the World Bank’s Climate Action Data Trust, which was launched on the Chia blockchain, to build market trust, enhance transparency, and secure the integrity of the global carbon market.
Tokenizing carbon credits isn’t the end game; but it is an important start – one that provides a reference for other segments. It enables a more fundamentally open market for authentic assets. This isn’t our first work in the space1 2, but it is our latest effort to continue driving innovation and addressing inherent to markets, and their participants, today.
Why Chia
The Chia blockchain enables enhanced transparency, increased security, and unfettered global access to assets and their markets–the critical and necessary components of changing the way we transact and interact with one another.
Interested in participating? Learn how here
- Hoffman, Gene. “The First Publicly Verifiable Carbon Offset Transactions and Retirement.” Chia Network, October 18, 2023. https://www.chia.net/2023/06/28/the-first-publicly-verifiable-carbon-offset-transactions-and-retirement/.
↩︎ - Crawley, Jamie. “IFC-Backed Carbon Opportunities Fund Uses Chia Network to Settle Tokenized Carbon Credits.” CoinDesk Latest Headlines RSS, June 28, 2023. https://www.coindesk.com/business/2023/06/28/ifc-backed-carbon-opportunities-uses-chia-network-to-settle-tokenized-carbon-credits/.
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