Nikolas Sargeant
VeChain has made it easy for businesses and organizations globally to track and report their carbon emissions data.
VeChain launches a carbon data reporting platform
Blockchain firm VeChain announced earlier today that it had launched a platform that seeks to make it easy for businesses to track and report the amount of data they are emitting. The service is expected to help businesses looking to reduce their amount of carbon emissions and ensure they play a role in saving the planet.
In a blog post earlier today, VeChain said, “VeChain’s brand new Digital Carbon Footprint SaaS Service is a powerful, rapidly deployable tool, enabling enterprises of all sizes to re-engineer their carbon footprint data management practices.”
According to VeChain, this latest service is the first of its kind to benefit from the combination of decentralized ledger technology (blockchain) and a SaaS business model. The blockchain firm said although companies need to abide by ‘green protocols’ and report their emission data, it is tough to know is a data is legitimate or not. Hence, the need to use public blockchains to track the emissions and data report by the companies.
“Public blockchain provides an elegant solution to this problem and, when combined with IoT technologies and data quality assurance services, neatly addresses the challenge of trustlessly collecting carbon emissions data from the many participants of a supply chain,” VeChain added.
The cryptocurrency space has embraced the green protocol, with several companies and miners committing to using renewable energy to mine Bitcoin and other cryptocurrencies. by reducing the use of non-renewables to mine cryptocurrencies, the amount of carbon emission into the environment would reduce, and this would help in the fight against global warming.
Cryptocurrency mining is considered an energy-intensive activity, and miners, especially those in North America, have been working hard to ensure that they only use renewable energy to mine Bitcoin and other digital currencies.
