Startups including Toucan and Topl are building blockchain tools for issuing carbon credits.
Several companies, including Toucan, Return, Topl, and Open Forest Protocol, are now aiming to improve the transparency and reliability of carbon credits by coupling climate initiatives with blockchain technology.
Erin MurphyThe need for greater transparency in carbon marketsCompanies buy carbon credits to offset the amount of greenhouse-gas emissions their business activity generates.
Aureus EarthThe potential benefits of credits on the blockchainThat's where blockchain technology comes in, Murphy and other proponents said.
Despite the flaws of that initial attempt, it showed ample market demand for blockchain-based carbon credits, Hoopes said.