According to Foresight News, China Carbon Neutrality Group (01372.HK) has announced a significant development in its carbon credit digitization efforts. The group's subsidiary, Future Marvel Limited, has successfully completed the data integration for its Carbon Coin protocol, enabling the on-chain representation of 200,000 tons of carbon credits.
The Carbon Coin protocol marks a crucial step for the company in the digitalization of carbon credits. The completion of data integration with relevant systems provides robust technical support for the on-chain management, trading, and subsequent processes of carbon credits.
"Carbon credit on-chain" refers to the digital representation and certification of carbon quotas or voluntary carbon reductions, such as Verified Carbon Standard (VCS) and Gold Standard carbon assets, using blockchain technology. This approach ensures transparent management and efficient circulation throughout the entire lifecycle of carbon assets.