Leveraging blockchain for carbon credit trading: a sustainable future (part 2)

In part one of “Leveraging blockchain for carbon credit trading: a sustainable future”, we examined how the carbon credit market comprises of regulatory compliance and voluntary markets, addressing legal obligations and individual choices in reducing greenhouse gas emissions. Predicted to reach $250 billion by 2050, the voluntary market reflects growing climate change awareness; blockchain enhances transparency and trust in carbon credit trading, ensuring accuracy and promoting sustainability across sectors. Blockchain technology potentially offers a powerful tool in the battle against climate change, so revolutionizing the landscape of carbon credit trading. This, in turn, has been recognized by a number of companies that are effectively harnessing blockchain technology to reshape carbon credit markets and combat the challenges posed by global warming.

Case studies:

·      KlimaDAO

KlimaDAO, represented by its coin, KLIMA, aims to accelerate the increase in the price of emitting carbon …