According to Binhai Times reports, China issued its first blockchain-based carbon offset certification in Tianjin just days after opening its national carbon market. The news was announced by the city’s emission rights trading exchange on July 15.
First Carbon Offset Using Ant Group’s Blockchain
AntChain, a corporate blockchain platform from Ant Group, was used in the creation of the offset. The research shows that blockchain can make carbon offset trade, issuance, and auditing transparent, traceable, and traceable. China is aiming to become carbon neutral by 2060, according to its current 5 years plan. As part of increasing green financing, Green Bonds and a National Carbon Market were launched on Friday.
Tianjin, a northern Chinese coastal city near Beijing, is called “The City of the Sea”. It is an important port and industrial centre in China, especially in petrochemicals. The local government of Tianjin is pursuing blockchain ambitions. It launched a blockchain-based customs management platform in 2019.
This platform is part of a larger strategy to connect local operations using blockchain. AntChain has launched today a new digital copyright service platform. It integrates blockchain technology with AI to enable producers of original content to verify and validate any type, including video, image and textual content.
Ant Group has been developing and funding blockchain research in other countries since 2015. Since 2015, Ant Group has been involved with blockchain solutions. AntChain was rebranded despite its commitment to the blockchain.