Blockchain
Xels Positions NFT-Based Platform as Future of Corporate Climate Action Disclosure
Corporate climate action disclosure platform Xels uses NFT-based platform to promote a greener, healthier planet.
Tokyo, Japan–(Newsfile Corp. – June 20, 2022) – Eco-technology platform
Figure 1: XELS Positions NFT-Based Platform as Future of Corporate Climate Action Disclosure
More and more corporations see managing their carbon footprint as a critical part of their corporate social responsibility (CSR), driving a carbon offset market that is estimated to be valued at between $40 billion and $120 billion. Moreover, the absence of transparency in climate change and carbon emissions reporting results in customers` distrust in what companies promise, their difficulties in following through the supply chain, and a lack of investor confidence in their pledges.
Xels is repositioning the carbon credit focussed sector of the NFT space to focus on transparent ESG reporting with tokenization as a supplementary feature. Xels believes this will remedy the acute problem of the tokenization and exchange of carbon credits in the space.
Speaking about the Xels platform, a spokesman for Xels commented:
“Many of the world’s largest companies are pledging to take world-changing action on climate change. But the question remains as to whether these actions are verifiable and whether bold statements are misleading stakeholders such as investors. When it comes to climate change, we’re missing the bridge that links consumers, businesses, and investors in a functioning marketplace. Blockchain technology is the missing link that brings consumers, businesses, and investors together on climate change as it lets us account for carbon emissions and transfer verifiable climate action.”
A Step in the Right Direction
Xels recognizes that the use of NFTs creates several issues when it comes to the exchange of carbon credits; the lack of transparency regarding minting retired credits as NFTs. This issue has also been highlighted by three of the largest carbon credit standards providers.
Xels takes a holistic approach with its solution by weaving new connections between many distributed parties around standards and data sharing and has the potential to improve existing mechanisms. The platform not only makes use of the inherent transparency of decentralized ledger technology, but combines that with an effective reporting system which leverages satellite monitoring and AI-driven analysis to verify corporate ESG claims. Consequently, this boosts companies’ ability to defend these claims to stakeholders, including customers and other companies in the value chain.
Corporations can also upload macroscopic information such as photos of carbon offset projects to be verified by the Xels platform, which serves to create an accessible input system for corporations without the resources of the largest in the world. Additionally, Xels’ focus on reporting sets it apart from other NFT-based carbon credit platforms. Xels allows corporations to store their full reporting cycle, meaning the platform can ensure climate action data is up-to-date and accurate. This further increases the credibility of claims made though the platform.
Finally, whilst Xels intends to launch publicly on the Ethereum blockchain initially, the Xels team are quickly looking to migrate to a low-energy blockchain to address energy consumption concerts in the near future.
About Xels
Launched in 2018, Xels is an eco-technology platform offering a bespoke enterprise blockchain, coupled with a carbon credit-backed digital asset, for companies seeking a transparent and secure way to offset their adverse environmental impacts. The platform uses cutting-edge satellite and artificial intelligence technology to quantify the actual amount of carbon sequestered by ecological projects, including protected ecosystems and reforestation campaigns.
Xels leverages the experience of an expert team to provide integrated end-to-end solutions to combat climate change, led by Takeshi Nojima, a veteran start-up builder, with high-level experience in software, system and game development.
For more information about Xels and its mission to combat climate change using DLT, visit their website here
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Media Contact Details
Contact Name: Mitch Hammer
Contact email: [email protected]
XELS is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
Blockchain
Digital Payment Gateway Market Industry Trends and Opportunities 2030, with Competitor Analysis for PayPal, Stripe, Adyen, Worldpay, Razorpay Software, Mollie, BlueSnap, Klarna Bank and Dwolla
Digital Payment Gateway Market
Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
The post Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users appeared first on News, Events, Advertising Options.
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
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