Driven by the government's desire to achieve carbon neutrality by 2060 and peak carbon emissions by 2030, China is seeing an increase in renewable energy projects, with blockchain at the heart of these initiatives.
Use VeCarbon to achieve decarbonization
Given that China is among the leading industrialized countries with high tons of carbon emissions from its various activities, it is no surprise that it is looking to adopt blockchain technology to control its impact on the climate. The opportunities are limitless with the use and adoption of blockchain technologies.
However, reducing carbon emissions requires a global multi-party effort, including data sharing, for greater efficiency. With blockchain, organizations can build trust and increase efficiency. Furthermore, one of the most crucial parts of the blockchain application centers around the management of carbon emissions data.
This sector is known for its high complexity and requires multidimensional international cooperation. Hence the need for the VeChain blockchain. As a result, VeChain developed VeCarbon, a blockchain-centric carbon emissions data platform hosted on the VeChain Thor protocol.
The VeCarbon system was specifically designed to address complex climate control issues. As carbon emissions data tracking is becoming a crucial part of the global climate control mechanism, China intends to leverage VeChain's innovative platform to track and ensure transparency of carbon emissions data.
As an advanced technology, VeCarbon will provide transformative solutions to reduce carbon emissions using the features of the public blockchain. For this reason, Shanghai Tanlian, the parent company of VeChain, has expressed its willingness to ensure that a low level of digital emissions is achieved through the VeChain network.
As electricity production continues to challenge the communist state, politicians are exploring the mass adoption of solar PV to kickstart the green energy initiative.
VeChain hits milestone with PoA 2.0 update
Meanwhile, the rollout of PoA 2.0 (Proof of Authority 2.0) on the VeChain protocol (VET) represents another historic victory for the network. The PoA will usher in a new phase of sustainable growth and development for the platform with an increased adoption rate.
It is worth noting that the update was a long-awaited project that the developers completed and presented on November 17 at block 13815000 after the integration of VIP-220.
For the blockchain community, this is the biggest network upgrade on the VeChain mainnet since its launch. The update will bring several benefits to the ecosystem. Some of these benefits include quality data and increased security on-chain.
The update positioned VeChain as the perfect sustainable platform for energy-efficient projects and real-world solutions. The enhanced network also features enhanced scalability characteristics to enhance businesses in the blockchain space. Meanwhile, the update brings VeChain one step closer to realizing its goal of global adoption of its supply chain management system.
