Blockchain
Blockchain for Climate Foundation Launches BITMO Platform at COP26
At COP26 in Glasgow, Scotland, Blockchain for Climate Foundation launches the BITMO Platform, an innovative tool to help countries achieve their climate goals. The BITMO Platform allows signatories to the Paris Agreement to issue and exchange carbon credits as non-fungible tokens (NFTs) on the Ethereum blockchain. While countries negotiate at COP26, the BITMO Platform stands by to enable a quick start of international carbon trading under the Paris Agreement.
Blockchain for Climate Foundation created the BITMO Platform to advance Article 6 of the Paris Agreement and shepherd an effective, efficient, and timely global carbon market using blockchain technology. The BITMO Platform enables issuance and exchange of “Blockchain Internationally Transferred Mitigation Outcomes” (BITMOs) as ERC-1155 Non-Fungible Tokens (NFTs) on the Ethereum blockchain. Each BITMO token, equivalent to one tonne of CO2, has all pertinent carbon credit data embedded right into the NFT.
Launching November 8, the BITMO Platform will provide accounting and exchange infrastructure necessary under Article 6, connecting demand for emissions reductions with the best climate action opportunities around the world. Countries signatory to the Paris Agreement may help fulfill commitments to reduce emissions by purchasing BITMOs from proven emissions reductions achieved elsewhere. The BITMO Platform is a secure record of issuance, transfer, and retirement for each country’s Internationally Transferred Mitigation Outcomes (ITMOs) that can be reconciled with National Carbon Registries and meet future UN requirements. BITMOs make all relevant data publicly available and are settled immediately when exchanged, helping avoid double counting of emissions reductions.
The BITMO Platform helps humanity address the climate crisis while fostering global co-operation. In that spirit, Blockchain for Climate Foundation is convening a National Party Working Group to pilot the issuance and exchange of ITMOs using the BITMO Platform. If you represent a national party interested in exploring how the BITMO Platform can help you, please reach out to learn more. [email protected]
Joseph Pallant – Climate Innovation Director, Ecotrust Canada, and Founder, Blockchain for Climate Foundation, “We cheer the COP26 negotiators working hard to finalize agreement on Article 6 of the Paris Agreement. The BITMO Platform stands by to enable issuance and exchange of ITMOs for National Parties seeking to kick off this crucial, new, international carbon market without delay.”
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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