Gold Standard, a provider of carbon credits, has announced plans to launch a tokenised digital asset model linked to the credits it issues. The roll-out phase of the project will begin in March and the model will be integrated with Gold Standard Registry. During the development process, Gold Standard will consult with five web3 companies – Toucan, Flowcarbon, Thallo, Earthchain and Bitgreen. The firms were selected for their active participation in Gold Standard’s working group on digital assets for climate impact, which took place in the latter half of 2022. The group explored in detail how distributed ledger and blockchain technology could be used to advance the digital assets market, while tackling issues like double counting and abuse of incentives. Gold Standard has tightened its rules on tokenised carbon credit issuance; digital instruments representing its carbon credits can only be created after its approval. Margaret Kim, CEO of Gold Standard, said open collaboration and transparency were vital to the successful creation of inclusive digital solutions for the carbon market.
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The restructuring capability of blockchain and the concept of carbon credits.
Blockchain technology is being used to create a more transparent and efficient carbon credits market. The global carbon credit market...
