IBM has laid claim to the world’s first blockchain ‘green asset management platform’ in China to decrease emissions while supporting low carbon emission-enabling technology.
Powered by the open source Hyperledger Fabric, the blockchain-based carbon management application is specifically developed for enterprises. The solution stems from a joint effort by IBM and Chinese company Energy Blockchain Labs. The two companies completed a proof-of-concept run of the platform in late 2016.The development comes at a time when China is pushing toward climate change action targets pre-2020. One of the objectives of that action plan, signed as a part of the Paris Agreement by China, is to build a standard nationwide carbon market.