HBAR Foundation announces ALLCOT onboarding carbon credits

The HBAR Foundation has announced that the digital arm of ALLCOT Group is on its way to onboard 500 million metric tonnes of carbon credit. This will be in the form of RWA and the Hedera Guardian ecosystem. ALLCOT IO onboarding credits make its relationship with HBAR more special, and the development is indeed a landmark during the current phase of their partnership.

Onboarding carbon credits will help ALLCOT push for open, transparent, and fully auditable methodologies. It will happen through Guardian, with the mission of bringing the balance sheet of the planet to a public ledger. More importantly, it paves the way for the implementation of digitizing MRV—measurement, reporting, and verification. The set is often seen as being represented as dMRV.

All the information about the carbon credits of ALLCOT is now easy to discover, audit, and transparent, mitigating the dubious encounters that the community would otherwise have a chance to discuss.

The stage is still set on traditional methodologies, except for the fact that it has transitioned to a digitized version. It is a clear possibility that the Web3 mechanism is in play for accelerated adoption.

Having said that, the HBAR Foundation said in the announcement that the development helps them and the community at a micro level to move closer to a trusted carbon market. This is purely on top of the convenience that the verification process now has to its side: simple and streamlined. Independent third parties may now undertake the validation process. It is likely to improve the transparency of ecological data.

ALLCOT integrating its portfolio with Hedera Network enables the latter to bring transparency to financial flows within carbon markets. Also, it now assists in the creation of climate assets while simultaneously opening books on climate finance.

Climate finance primarily refers to increasing transparency in the financial flows in the carbon markets. dMRV helps climate market actors receive and give value to Hedera as a public network. dMRV further helps in sourcing attestations from the same account. Project developers benefit from the said integration, for they now possess the capability of projecting their financial sustainability via financial equity.

Overall, Hedera and ALLCOT are achieving two goals here. The first deals with venturing into a future that allows everyone to check the credit brought into the carbon markets. The second deals with reviewing the flow of funds to a community without a financial audit. Its usage and flow to stakeholders are covered automatically by Hedera and ALLCOT.

With this, the HBAR Foundation has introduced the concept of Regenerative Finance. It is denoted by the acronym ReFi and aims to benefit the global south with a low- or close-to-no-carbon future. It is based on the fundamental principle of restructuring the financial relationship.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

Related Articles

Back to top button
Bitcoin (BTC) $ 67,127.99
Ethereum (ETH) $ 3,569.55
Tether (USDT) $ 1.00
BNB (BNB) $ 609.23
Solana (SOL) $ 146.22
XRP (XRP) $ 0.514146
Dogecoin (DOGE) $ 0.133079
Cardano (ADA) $ 0.413661