Softbank Asia invests in CNT project, enabling “carbon neutralization”
Softbank Asia recently launched a special investment fund of US $10 million to officially invest in CNT projects, boost CNT global carbon neutralization plan, giving full play to the function of carbon emission trading market, using blockchain technology to solve basic problems in carbon emission trading market and optimize carbon emission trading market.
The CNT Foundation is building Carbon Trading Agreement — a public blockchain system based on Carbon Neutrality for Carbon emissions Trading. CNT Foundation believes that blockchain technology can better solve the basic contradiction in the carbon emission market. Similarly, carbon emission trading and carbon offset can alleviate the negative problems brought to the external environment by the blockchain PoW consensus mechanism. The successful application of blockchain in anti-counterfeiting traceability and supply chain management has fully demonstrated the technology’s powerful ability to communicate point, line and surface and maintain information integrity.
Since the mid – 19th century, such activities have been the main cause of global warming. According to the current trend, even if countries actually implement the carbon emission reduction promised in the Paris Agreement, by 2100, the concentration of carbon dioxide will still exceed 580ppm, which is more than twice the concentration at the beginning of the industry. In order to mitigate the impact of global warming and climate change, we must significantly reduce the emission of carbon dioxide.
CNT’s commitment to a more open and transparent decentralized carbon market will help promote climate action globally and be more in line with the “bottom-up” climate governance spirit of the Paris Agreement. Carbon market data is stored synchronously by multiple nodes, and the process of carbon trading is decentralized, enabling faster participation in the new carbon sink market. Carbon sinks and chain assets, carbon trading and carbon neutral data flow can check at any time, improve the credibility, the most critical of the carbon market information transparency and double calculation problem will be solved, in the international and interregional carbon market, improve the content of authenticity, can attract more enterprises and organizations to participate in, Expanding the scope of participation in global carbon neutralization.
“Carbon neutralization” – a rare global consensus and unified action. The data show that more than 120 countries and two-thirds of the economies have joined the great transformation of “carbon neutralization”, and the blockchain industry is also in the “carbon” storm. It is estimated that by 2030, the cumulative trading volume of carbon emissions may exceed 100 billion yuan, and the market scale of blockchain technology in global carbon trading will usher in a breakthrough of US $trillion. Therefore, every move of the blockchain industry has become the focus of carbon neutralization action.
One of the significant changes that CNT’s blockchain data mechanism can bring is consistency and transparency, which can help global enterprises break through information barriers and make up for information defects on key issues; The second is high data privacy, which can solve the contradiction between business information confidentiality and environmental information disclosure, flexibly adapt to the disclosure strategy of key issues, and avoid risks under the regulatory system composed of government departments, financial institutions and third-party audit.
For a long time, the consensus mechanism of blockchain as proof of equity (PoW) has been criticized. The problems of huge energy consumption and carbon emissions have been gradually recognized, and new ideas of technology have emerged one after another. (previously, the new CNT technology has been able to solve the problem of energy consumption in the form of data verification and recording between nodes, so that people need to enter carbon offset while networking the blockchain. The whole blockchain network achieves carbon neutralization and meets the requirements of environmental protection.
The production and management data can not be tampered with after being linked, the time is accurate and the operator is accurate. On the one hand, data on the chain can help enterprises improve overall efficiency and resource utilization, control low-carbon or zero carbon production costs, transform and upgrade processes and technologies, form new market competitiveness under the goal of carbon neutralization, and build a low-carbon raw material supplier system; On the other hand, it can help enterprises achieve carbon accounting in line with standards and norms, so as to promote scientific emission reduction targets, implement energy conservation and emission reduction actions, and realize carbon leap.
Softbank ventures Asia has managed more than US $1 billion. In recent years, Softbank Asia has focused on promoting carbon neutralization as a long-term undertaking. Encourage enterprises to strengthen technological R&D and innovation through investment, and take carbon neutralization as an opportunity to accelerate the transformation of low-carbon technologies. Softbank Asia responds to the global call for low-carbon, contributes to sustainable development, actively performs social responsibilities, and promotes the economic and social development in the direction of low-carbon, green and recycling through the combination with the blockchain industry.
Softbank Asia, together with CNT, combines blockchain technology with the carbon market, constantly explores the potential of programmable carbon sink, improves the response of carbon sink assets in similar activities, increases the awareness of enterprise carbon emission reduction, and promotes the realization of carbon neutrality in enterprise business activities. Improve the adaptability of society to climate change, mitigate the impact of global warming, mobilize more people to actively participate in global carbon emission reduction, and assume the industrial responsibility of protecting the green earth.
Arnav Reddy was an iconic writer known for his science-fiction and high fantasy short stories. He was raised in a household in which the exploration of article ideas and fact-finding was encouraged. He became one of the most decorated writers in the publishing fraternity, winning multiple prizes for his excellent writing.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Times of Chennai journalist was involved in the writing and production of this article.