Corda's Private Blockchain Helping Fight Climate Change

The BBC article on how Rebalance Earth will use Corda to safely transfer funding into projects that support the UN Sustainable Development Goals has caused interest.

It seems that a 2019 Berzaghi’s scientific study findings and Chami’s valuation found that the elephant’s destructive habits help boost the overall amount of carbon stored in the central African rainforest. As we know, governments and companies around the world are developing innovative technology to capture carbon and slash their emissions.

Rebalance Earth, taking the concept of an elephant’s monetary value, aims to use Berzaghi’s scientific findings and Chami’s valuation to sell elephants’ carbon capture potential to companies around the world. Building on the carbon offsetting market, Rebalance Earth has started selling ecosystem tokens which represent the carbon captured by each elephant.

Using digital tokens supported by blockchain to fund conservation, Rebalance Earth, says it will use the private R3 Corda blockchain , which it claims uses roughly the same amount of energy as sending an email . Whereas Bitcoin and other public blockchains use the highly energy-intensive “proof of work” mechanism to verify transactions, R3 Corda is a private blockchain using a validity consensus and uniqueness consensus mechanism, which consumes far less energy as it does not require computational power to solve a mathematical problem .

Read in full here, to learn about the role blockchain can play in fighting climate change.

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