Happy Holidays, and an MVP under the tree.
Greetings and happy holidays
We have some exciting updates on our progress at Blockchain for Climate Foundation. As we mark the five-year anniversary of the Paris Agreement, we are stepping closer towards a launch of our BITMO Platform MVP that would enable the issuance and exchange of carbon credits on the blockchain. We expect this MVP (Minimum Viable Product = it works, but needs ongoing refinement) to be live on the Ethereum blockchain by the end of the year, utilizing ERC1155 non-fungible tokens to issue and exchange tokens carrying all the pertinent data for a carbon offset.
As you know, five years ago, at COP21, UNFCCC world leaders came together to sign the historic Paris Agreement. It was determined that every five years, signatories to the Paris Agreement would make concrete efforts to intensify and accelerate efforts to keep greenhouse gas emissions below the 2℃ above pre-industrial levels and pursue further efforts to keep it below 1.5℃. 2020 marks the end of the first 5-year cycle when signatories are required to outline and communicate their climate actions, also known as their Nationally Determined Contributions or NDCs.
Today, Blockchain for Climate is busy building a system to connect the national carbon accounts of the world to enable cross-border collaboration on emission reductions. Doing this in a way that can be compliant with the Paris Agreement and help Parties to the UNFCCC meet their nationally determined contributions requires a system that is not only technically secure and accountable but also user friendly and intuitive.
At COP25 Madrid, we had the pleasure of showcasing a demonstration-only version of the BITMO platform developed in partnership with Accenture, at side events hosted by the Climate Chain Coalition. As we move forward with our eyes on COP26 and critical Article 6 negotiations, we are excited to have collaborated with the team of talented designers to create the first live-on-the-blockchain iteration of the BITMO Platform.
RBC Foundation
Blockchain for Climate Foundation, in partnership with Ecotrust Canada, has generously received funding through the RBC Tech for Nature program. It is the “Royal Bank of Canada’s multi-year commitment to preserving the world’s greatest wealth: our natural ecosystem. (The program) works with partners to leverage technology and innovation capabilities to solve pressing environmental challenges. RBC Tech for Nature brings to life the fifth pillar of the RBC Climate Blueprint, their enterprise approach to accelerating clean economic growth.”
We are very pleased that the combined work of Ecotrust Canada and BfCF resonates so well with Tech for Nature’s goals. It has been inspiring to engage with RBC Foundation’s team around innovation and direction of the blockchain + impact space. “RBC is leveraging its technology capabilities in areas such as Artificial Intelligence, Blockchain, and app development to work with charitable partners to address water and climate challenges. We are actively seeking partners who share our vision and are pursuing technology-based solutions.” It is thoroughly exciting to be deploying the BITMO Platform MVP imminently, and growing its utility for Ecotrust Canada’s proposed Forest Carbon Economy Fund.
The RBC Tech for Nature program is accepting applications until February 15, 2021. If you or the folks you know are working on excellent projects that might fit this funding stream, learn more, and apply by clicking here.
Welcome Mahmoud!
BfCF is thrilled to introduce Mahmoud Shehata as our first Blockchain Developer to be actively coding the BITMO Platform. Mahmoud is no stranger to building exciting and innovative projects that help scale current blockchains. He is currently finishing his Computing Science degree at Simon Fraser University.
We are so grateful to have Mahmoud on our team. He has been working collaboratively with Kam and Joseph in designing and implementing the BITMO Platform and is on track to finish a working MVP by the end of the year.
Click here to see Mahmoud's full profile on our website.
Thank you!
A deep thank you to the Blockchain for Climate Foundation team, advisers, and supporters for your engagement and support. Be it working all hours in our daily grind, engaging where you can, or simply watching from afar, your support means the world. Have a safe and happy holiday season! We look forward to a whole new year together, to further our mission of Putting the Paris Agreement on the blockchain, and broadly making the world a better, more inspiring place.