Ascend Bit Joins Forces with Carbonmark on an Eco Solution
Ascend Bit has teamed up with Carbonmark to introduce a solution that allows users in Thailand to offset their carbon footprints using a tokenized carbon credit system within the TrueMoney Wallet. This partnership makes it possible for over 20 million active users to engage in carbon offsetting effortlessly by purchasing credits that are linked to various environmental projects, such as forestry and renewable energy. The credits are securely processed and recorded using blockchain technology.
The tokenized carbon credit system offers a user-friendly experience where individuals can pay in Thai Baht and choose from a range of verified projects. The tokenized carbon credits represent offsets of 70 to 930 kg of CO2, with options to maintain carbon neutrality for periods ranging from seven to ninety days. By utilizing blockchain, the solution ensures real-time carbon retirement and generates NFT certificates as proof of participation, which are securely stored on the Polygon blockchain.
The use of blockchain makes the process faster and more reliable, providing users with a verifiable way to track their environmental contributions.
Image Credit: Ascend Bit x Carbonmark
The tokenized carbon credit system offers a user-friendly experience where individuals can pay in Thai Baht and choose from a range of verified projects. The tokenized carbon credits represent offsets of 70 to 930 kg of CO2, with options to maintain carbon neutrality for periods ranging from seven to ninety days. By utilizing blockchain, the solution ensures real-time carbon retirement and generates NFT certificates as proof of participation, which are securely stored on the Polygon blockchain.
The use of blockchain makes the process faster and more reliable, providing users with a verifiable way to track their environmental contributions.
Image Credit: Ascend Bit x Carbonmark
Trend Themes
1. Tokenization of Carbon Credits - Leveraging blockchain for carbon credits enhances transparency and security, disrupting traditional environmental offset methods.
2. Nfts as Environmental Proof - The use of NFT certificates on the blockchain as proof of carbon offset participation introduces a novel digital asset class with environmental impact.
3. User-friendly Carbon Offset Platforms - Simplified access to carbon offsetting through digital wallets encourages broader participation in sustainability efforts.
Industry Implications
1. Blockchain Technology - Blockchain's application in carbon credit markets offers new pathways for secure and transparent environmental initiatives.
2. Digital Finance - Integrating carbon credits within digital wallets presents growth avenues for fintech companies striving for sustainability.
3. Environmental Services - Environmental sectors can harness tokenization to streamline the involvement of individuals and businesses in carbon offset projects.
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