The World Bank has backed a new blockchain registry for carbon credits in a bid to attract more crypto investors. The International Finance Corporation (IFC), the bank’s private-sector arm, will help develop the platform and also invest up to $1 million in it. The registry will be used to track emissions reductions and carbon credits generated by projects around the world. It is hoped that this will make it easier for buyers of carbon credits to find projects to invest in, and will also help to boost the global carbon market.
The IFC has said that it will also help to promote the use of blockchain technology in emerging markets. This is in line with the World Bank’s goal of supporting low-carbon development. The IFC has previously invested in a number of blockchain projects, including a platform for buying carbon credits.
The registry will allow businesses and individuals to buy and sell carbon credits. It will also help to track emissions and ensure that they are reduced in line with international agreements. The IFC believes that the registry will help to make the carbon market more efficient and transparent.
The International Finance Corporation (IFC) said on Tuesday that it has invested an undisclosed amount in Climate Ledger, a London-based startup that is developing the registry. Climate Ledger claims the registry will help create a “secondary market” for carbon credits, which are generated by projects that reduce emissions. The IFC said the investment is part of its efforts to support the development of Carbon markets.
“This investment underscores our commitment to crowd in private finance for climate-friendly investments,” said Climate Change and Carbon Markets Manager at IFC, Mouayed Makhlouf.
“We believe that innovative technologies like blockchain can help unlock new financing for climate action, including by reducing transaction costs and increasing transparency and trust.”
IFC’s Carbon Opportunities Fund is a fund that invests in projects that aim to reduce greenhouse gas emissions. The fund provides financing for projects that will help develop low-carbon technologies or improve energy efficiency. The fund is managed by IFC, a member of the World Bank Group.
Crypto Trading vs Crypto Network: What You Need To Know
Crypto trading and crypto networks are two different things. Crypto trading is the process of buying and selling cryptocurrencies, while crypto networks are the infrastructure that allows cryptocurrencies to exist and be traded. Both have their own benefits and drawbacks, so it’s important to understand the difference before making any decisions.
Crypto trading is a great way to make money, but it’s also very risky. You can make a lot of money if you know what you’re doing, but you can also lose everything just as easily. Crypto networks, on the other hand, are much more stable and offer a more secure way to store and trade cryptocurrencies. However, they can be slower and more expensive to use.
So, which one is better? It really depends on your needs and preferences. If you’re looking to make some quick money, then crypto trading is probably the way to go. But if you want a more secure and reliable way to trade cryptocurrencies, then a crypto network might be a better option.
I am Sayan Chowdhury, a Web 3.0 and Blockchain Consultant at GrowGlobal.IO. GrowGlobal is breaking dimensions in the field of blockchain and crypto by creating solutions that allow local businesses to reach the world. First prize winners in the KardiaChain global hackathon and working in building the world’s first Unified Crypto Interface protocol. If you wish to explore the opportunities of Blockchain and NFT-enabled services for your business with us, click here (growglobal.io/book-a-coffee)
