Another example is Finboot, which collaborates with major enterprises, including those in the oil and gas sector, to incorporate blockchain into their supply chain management.

This facilitates the tracking of raw materials and processes, offering a verifiable record of sustainability practices across various industrial sectors.

Can Algorand assist with carbon reduction projects?

Marc: Transparent carbon monitoring—and transparent carbon markets—are essential components in the effort to reduce carbon emissions, yet many existing systems remain isolated.

Algorand enables companies to record verified emissions data in real time on the blockchain.

By integrating blockchain with Internet of Things (IoT) devices and AI, projects can automate monitoring, lower costs, and enhance verification reliability.

This opens up opportunities for both enterprises and households—typically excluded from these markets—to engage in carbon markets, transforming emission reductions into credits applicable toward income or energy payments.

Algorand’s speed, low fees, and efficiency enable the scaling of such carbon markets.

The Algorand Foundation exemplifies this by offsetting its own carbon footprint annually through ClimateTrade, a marketplace built on Algorand.

A notable example is Ureca, which utilizes Algorand alongside IoT and machine learning to verify carbon reduction projects.

Emissions data is gathered and recorded on Algorand in real time, creating trusted records for investors, regulators, and communities.

The platform allows households and enterprises to measure emissions, generate credits, and apply them to bills or income.