Each credit represents a tonne of carbon that has been prevented from being vented into the atmosphere as emissions, acquired from sources including GuildOne’s energy industry partners.
In addition to the tokenized carbon credit transaction, the companies are collaborating on the planting of several thousand trees to further offset iMining’s carbon emissions, including projects with Indigenous partners.
However, the carbon market faces numerous trust and scaling challenges.
The initial purchase transaction of the blockchain-based carbon credits was settled between the parties in ADA, Cardano’s native currency.
“iMining is committed to strong ESG values, and that includes reducing the emissions impact of our operations,” he said.
“Our unique position as a bridge between the energy sector and digital asset ecosystem allowed us to create a complete solution for turning verified carbon data into tradeable value,” he said.
Working with industry and technology partners including R3 and AWS, the company’s pioneering smart contract technologies and secure networks are transforming how business transacts, shares data and creates value.
With diverse blockchain investment and infrastructure solutions, iMining is a leader in accelerating the growth of value creating DeFi opportunities for the enterprise market.
Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of activities, future cryptocurrency prices, operating risks, and other risks in the cryptocurrency industry.