HBAR Foundation and United Nations Unveil New Digitization Platform for Carbon Markets

HBAR Foundation and United Nations Unveil New Digitization Platform for Carbon Markets

Guardian and Managed Guardian Service, powered by Hedera’s blockchain and HBAR token, aim to enhance transparency and accessibility in carbon markets.

In a groundbreaking collaboration, the HBAR Foundation, in partnership with the United Nations, Envision Blockchain, and Swirlds Labs, has announced the launch of a new digitization platform for carbon markets. The joint product, called Guardian and Managed Guardian Service, is set to revolutionize the way carbon measurement, reporting, and verification are conducted. By harnessing the power of Hedera’s blockchain technology and its native token, HBAR, the platform aims to enhance transparency and data accessibility in the carbon market, all while eliminating the need for a centralized intermediary.

HBAR Price Surges on the News:

The announcement of the Guardian platform has already had a significant impact on the market, with HBAR’s price jumping 2.6% to reach $0.06, according to CoinGecko. This surge in price reflects the market’s positive response to the potential of this new solution in transforming the carbon market landscape.

Guardian: Enhancing Transparency and Accessibility:

The UN Climate Change Global Innovation Hub, in collaboration with the HBAR Foundation, aims to improve transparency and data accessibility in the carbon market through the Guardian platform. This innovative solution will provide digital measurement, reporting, and verification capabilities, streamlining and digitizing climate change mitigation methodologies.

Massamba Thioye, Project Executive at the United Nations Framework Convention on Climate Change’s Global Innovation Hub, expressed excitement about the platform, stating that it exemplifies a significant step towards streamlining and digitizing climate change mitigation methodologies. The Guardian platform will contribute to the UN’s efforts in addressing the global challenge of climate change by providing a reliable and efficient tool for carbon market participants.

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HBAR Foundation’s Vice President of Sustainability & ESG, Wes Geisenberger, highlighted the platform’s new possibilities and innovations. The addition of 15 new methodologies to the largest digitized and open-source methodology library, coupled with groundbreaking search functionality for project data, will enable easy access to project information and foster further advancements in the field.

United Nations’ Embrace of Blockchain Technology:

The collaboration between the HBAR Foundation and the United Nations marks another significant step in the international organization’s embrace of blockchain technology. The United Nations Development Programme (UNDP) recently announced its partnership with the Algorand Foundation to provide blockchain knowledge and insights to its staff. The Algorand Blockchain Academy, set to launch in Q1 2024, will offer recorded lectures and interactive workshops to 22,000 UNDP employees, further highlighting the UN’s commitment to leveraging distributed ledger technology.

Conclusion:

The launch of the Guardian platform by the HBAR Foundation and its collaboration with the United Nations, Envision Blockchain, and Swirlds Labs, represents a major milestone in the digitization of carbon markets. By utilizing Hedera’s blockchain technology and HBAR token, the platform aims to enhance transparency and accessibility, revolutionizing the way carbon measurement, reporting, and verification are conducted. With the United Nations leading the charge in embracing blockchain technology, it is clear that distributed ledger technology will play a pivotal role in addressing global challenges such as climate change. The Guardian platform sets a new standard for digitized and open-source methodology libraries, paving the way for a more sustainable and transparent future in the carbon market.