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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/128304
The anticipated return of $9 billion worth of Bitcoin from the Mt. Gox era has the potential to stir anxiety within the cryptocurrency market. This significant influx of Bitcoin, which has been tied up since the collapse of the Mt. Gox exchange in 2014, raises questions about its potential impact on market dynamics and investor sentiment.
The return of these long-dormant Bitcoin holdings may lead to increased volatility and uncertainty in the cryptocurrency market. Market participants are likely to closely monitor the movement of these funds and assess their potential impact on Bitcoin prices and overall market stability.
Additionally, the large-scale return of Bitcoin from the Mt. Gox era may trigger concerns about potential selling pressure and its effect on market liquidity. Investors may anticipate fluctuations in Bitcoin prices as these funds are reintroduced into the market and traded.
Furthermore, the return of these Bitcoin holdings highlights the ongoing legal and regulatory challenges associated with the Mt. Gox saga. The resolution of this long-standing issue could have far-reaching implications for investor confidence and the perception of security within the cryptocurrency ecosystem.
Overall, the anticipated return of $9 billion worth of Bitcoin from the Mt. Gox era has the potential to evoke anxiety among market participants and prompt heightened scrutiny of market dynamics. As the cryptocurrency market braces for this significant development, it remains to be seen how it will navigate the potential challenges and opportunities presented by the return of these funds.
Source: blockchain.news
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Blockchain
Binance Faces Lawsuit in Canada for Selling Crypto Derivative Products Without Registration
Binance is currently embroiled in a legal dispute in Canada over allegations of selling cryptocurrency derivative products without proper registration. This lawsuit underscores the regulatory challenges facing the cryptocurrency exchange in various jurisdictions.
The lawsuit accuses Binance of offering crypto derivative products to Canadian investors without obtaining the necessary registration from Canadian securities regulators. This legal action highlights the importance of compliance with regulatory requirements in the cryptocurrency industry, particularly concerning the sale of derivative products.
Binance’s legal woes in Canada reflect broader concerns about regulatory compliance and investor protection within the cryptocurrency sector. As authorities worldwide increase scrutiny of cryptocurrency exchanges and trading platforms, companies like Binance face mounting legal and regulatory challenges.
The outcome of this lawsuit could have significant implications for Binance and the broader cryptocurrency industry in Canada. Depending on the court’s ruling, it could lead to increased regulatory oversight and stricter enforcement measures for cryptocurrency exchanges operating in the country.
In response to the lawsuit, Binance has stated that it is committed to compliance with all applicable laws and regulations in the jurisdictions where it operates. However, the outcome of this legal dispute will likely shape the regulatory landscape for cryptocurrency exchanges in Canada and influence their future operations and compliance efforts.
Source: blockchain.news
The post Binance Faces Lawsuit in Canada for Selling Crypto Derivative Products Without Registration appeared first on HIPTHER Alerts.
The Cardano Foundation has announced the launch of Pragma, marking a significant milestone in open-source blockchain development. Pragma aims to revolutionize Cardano by enhancing its infrastructure through innovative open-source projects.
Pragma represents a new chapter in the evolution of Cardano, focusing on improving its underlying infrastructure and expanding its capabilities. The initiative underscores the Cardano Foundation’s commitment to fostering innovation and driving progress within the blockchain ecosystem.
By leveraging open-source projects, Pragma seeks to enhance Cardano’s functionality and scalability, paving the way for broader adoption and increased utility. These efforts are expected to unlock new opportunities for developers and users alike, further cementing Cardano’s position as a leading blockchain platform.
Pragma’s launch highlights the ongoing evolution of Cardano and its commitment to pushing the boundaries of blockchain technology. Through collaborative open-source development, Pragma aims to address key challenges and drive continuous improvement within the Cardano ecosystem.
The Cardano Foundation’s announcement of Pragma signals a significant step forward in its mission to build a decentralized and sustainable blockchain infrastructure. With Pragma, Cardano is poised to embark on a new era of innovation and growth, setting the stage for a future of unprecedented possibilities in blockchain development.
Source: cryptonews.com
The post Cardano Foundation Launches PRAGMA: A New Chapter in Open-Source Blockchain Development appeared first on HIPTHER Alerts.
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