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World Bank Program Looks to Blockchain to Solve Carbon Emissions Data Issues

  • Blockchain firms are building ‘public-good layer’ for climate
  • Chia Network among crypto startups developing prototypes
Photographer: Luke Sharrett/Bloomberg
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As the crypto industry reckons with issues around power usage and sustainability, a few startups are focusing their efforts on a project that runs counter to the premise of blockchain technology: centralized data. 

The World Bank’s Climate Warehouse has been fielding consultations with crypto firms about building a so-called “public-good” data layer. The layer would sit atop a blockchain and could enable countries and groups to report and audit carbon assets in a centralized manner -- solving issues of trust and transparency, Gene Hoffman, president and chief operating officer of the Chia Network told Bloomberg TV on Friday.