Company
Date Published
Author
Chainlink
Word count
613
Language
English
Hacker News points
None

Summary

Coorest has received a grant from the Chainlink Community Grants Program to develop a decentralized application (dApp) aimed at carbon trading and offsetting, reflecting a growing global effort to address climate change through innovative technology. The dApp will allow farmers and reforestation projects to generate and trade CO2 tokens, which can be used by businesses and individuals to offset their carbon emissions. Utilizing blockchain technology and satellite data, the application will ensure accurate CO2 absorption calculations and tokenization, with the validation process supported by Chainlink's decentralized oracle network and Proof of Reserve. The initial pilot project will be conducted in Angola, focusing on mango and passion fruit trees, with the objective of providing an additional income stream for environmentally conscious initiatives and offering reliable geospatial data for real-time environmental monitoring. Coorest, based in Estonia, aims to bridge the gap between the real and digital worlds through blockchain solutions, motivated by transparency, innovation, and the potential of blockchain to support sustainable development.