4C Will Fund the Reforestation of the Planet Using Blockchain
The Cambridge Carbon Credit Center (4C) will create a platform on the Tezos blockchain for financing environmental projects.
According to Investing, the organization intends in this way to help preserve the planet’s biodiversity and mitigate the effects of climate change, since such projects are sorely lacking in funding.
“Current accreditation systems that measure and report the value of carbon and related benefits like biodiversity conservation and poverty reduction rendered by NbS are costly, slow and inaccurate,” said Center Director Dr Anil Madhavapeddy.
According to him, the new decentralized platform will help solve two problems at once: a lack of funding for green projects and a lack of confidence in carbon credits due to accreditation systems.
“What we need is a decentralised marketplace where buyers of carbon credits can confidently and directly fund trusted nature-based projects. And that’s the gap the Centre is aiming to fill,” Madhavapeddy said.