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Blockchain facilitates GHG emissions rights trade in Russia

Russia is launching a blockchain-based project on carbon unit trade. Created with the support of Microsoft Russia, DAO IPCI platform unifies buying and selling of greenhouse gas (GHG) emission rights, “Kommersant” reports.

The platform with smart contracts is designed for international organizations, government authorities, multinational and private companies. Compliance with the contract's terms and conditions will be controlled by an algorithm, preventing manipulations with declared and real emission volumes.

Developers are sure that their platform is able to address the main challenge of the market – the lack of orchestrated actions that results in price volatility and high level of investment risks.

Initial arrangements with potential participants of the deals are already reached, and first deals are planned for this month. In the future, DAO IPCI can be used for buying other types of environmental assets and commitments as well.

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