China Southern Power Grid Launches Blockchain-based Carbon Trading Project

02/28/2023 09:13 • Metaverse & Beyond • 71 views

It is reported that recently, China Southern Power Grid Yunnan Power Grid Co., Ltd. launched a national key research and development project of “credible carbon trading and carbon neutral management demonstration application based on blockchain (application demonstration)”, and took the lead in carrying out value-added research of “blockchain+green power certification+green energy+carbon trading+green power products” in China Southern Power Grid.

Yunnan Power Grid launched the “blockchain” national key research and development plan project

Interpretation of the news:

China Southern Power Grid Yunnan Power Grid Co., Ltd. has unveiled a national-level research and development project aimed at integrating blockchain technology in carbon trading and carbon-neutral management. The research intends to create a credible, transparent, and sustainable ecosystem for carbon trading aligned with green energy certification, green energy products, and carbon trading.

The application seeks to create a value-added market-based trading system through green-power development and carbon trading. The project is believed to be a significant milestone in China’s efforts to increase its sustainability credentials. Funds for the research project come from China Southern Power Grid’s “Vientiane Plan” action plan and China’s National-Level Special Project for the Development and Application of Blockchain Technology.

Using blockchain technology would offer a transparent system that guarantees the reliability of trading products, an essential aspect for carbon trading. A value-based system will make it easier for companies to achieve carbon trading counterbalance, thus reducing carbon emissions using green energy solutions. The project seeks to develop a credible carbon-trading platform that aligns with national guidelines, metrics, and policies.

This new development complements China’s efforts to tackle climate change and meet the target of becoming a carbon-neutral economy. The project’s success will create a viable system that businesses in China can follow in response to the looming carbon-neutral economy, with blockchain being a significant factor in the carbon trading arena. The blockchain-based application will ensure transparency and traceability across the carbon trading value chain, from production to consumption.

In conclusion, China Southern Power Grid’s project development of blockchain-based carbon trading and carbon-neutral management ecosystem could be a game-changing narrative in the fight against climate change. Implementing blockchain technology in carbon trading will offer transparency, traceability, and add value across the trading chain, thus improving accountability, reliability, and sustainable practices.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/metaverse/3979.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.