A government-affiliated research centre in the United Arab Emirates (UAE) unveiled a Blockchain-powered carbon tracking and trading platform at the UN Climate Change Conference (COP28) on December 5, 2023.
Here are some of the major developments from the world of crypto over the past few days.
A government-affiliated research centre in the United Arab Emirates (UAE) unveiled a Blockchain-powered carbon tracking and trading platform at the UN Climate Change Conference (COP28) on December 5, 2023.
Developed by the Technology Innovation Institute’s (TII’s) Cryptographic Research Centre, the platform facilitates international carbon token trading linked to green investments, such as forestation and carbon capture.
Users on the platform can generate tokens representing a specific amount of carbon dioxide removed from the environment, tracked throughout its supply chain journey. The Blockchain’s versatile applications include peer-to-peer energy trading, waste disposal tracking, recycling, and forestry management. Auditors are engaged to ensure transparency and security, with the institute emphasising a lightweight and efficient Blockchain for cost-effective trading.
TII CEO Ray O. Johnson said this is a significant stride toward the UAE becoming a global leader in technology and innovation, and also aligns with the broader climate action goals.
The centre is also affiliated with Abu Dhabi’s Advanced Technology Research Council, and aligns with the “UAE Vision 2021” for economic strengthening and sustainable living.
The US House Committee on Energy and Commerce unanimously passed the Deploying American Blockchains Act of 2023 (H.R. 6572) on December 5, 2012. The 13-page Bill aims to promote US competitiveness in Blockchain technology. The Bill includes the creation of a “Blockchain Deployment Program” and government advisory committees to support Blockchain adoption.
If approved, Commerce Secretary Gina Raimondo would be directed to take actions facilitating Blockchain deployment.
Cody Carbone of the Chamber of Digital Commerce praised the move, emphasising its significance for US leadership in Blockchain development. The Bill will now proceed to the House for a vote before Senate consideration and final approval.
Legendary US metal band Megadeth announced a new non-fungible token (NFT) collection on December 5, 2023. The collection promises to provide fans with exclusive access to content and physical experiences.
The band also announced the NFTs on social media through a post on X (formerly Twitter), saying the 5,000-piece collection features the band’s digital mascot, Vic Rattlehead.
“Introducing @MegadethDigital. Our 5000-piece generative collection featuring Vic Rattlehead brought to life in a new way by our talented artist @TheHaddy. Live on December 22nd, you’ll have the opportunity to unlock doors in the real and metaverse world alike, gaining access to exclusive merchandise and VIP experiences unlike ever before including chances to collect signed items and one-on-one conversations with the band members themselves. This isn't just a fan club; it’s a community owned by YOU,” Megadeth said in a post on X.
In addition to its digital collectible, Megadeth announced that the NFT will unlock both physical and digital experiences to be had in the metaverse, including one-on-one conversations with the band members.