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IFC, a member of the World Bank Group, supports the establishment of a blockchain-based carbon offset platform



Time:8/17/2022 12:31:58 PM

[World Bank Group member IFC supports the establishment of a blockchain-based carbon offset platform] Jinse Finance reported that the International Finance Corporation (IFC), a member of the World Bank Group, is working with the blockchain platform Chia Network to establish a "Carbon Opportunity Fund." Also participating are sustainability finance firm Aspiration and biodiversity investor Cultivo, and the fund will offer blockchain-based carbon credits to buy from projects.

Carbon offsets are a means for companies to offset their emissions by buying credits, funding tree planting or renewable energy projects. (CoinDesk)

Other news:

Voice | Foreign media: The World Bank’s blockchain bonds are just a way to sell debt: posted a comment saying that the World Bank’s blockchain bonds are just a way to sell debt. The article mentioned that although the World Bank’s blockchain project is one of the most high-profile experimental projects of its kind, the institution has been under scrutiny for quite some time, allowing nepotism. The Bond-i blockchain project is just a fancy form of selling debt, but the process isn't really transparent unless you're part of a banking syndicate. Unlike public blockchains, the project's blockchain explorer is not accessible to the general public. To skeptics, the $114 million locked in the Bond-i project is a joke, and if the World Bank wants to end the systemic global economic crisis, it should be selling debt to stem disruption to the economy. Politicians and central bankers around the world, however, are not ready to hit rock bottom when they wholeheartedly intervene in the market adjustment process. Hosted on a fancy blockchain or not, until the World Bank stops its bond program, borrowing economies will continue to be rigged and artificial. [2019/8/22]

Voice | World Bank raises over $33 million for kangaroo bonds through blockchain technology: According to Cointelegraph, the World Bank announced on August 16 that it will use blockchain to fund additional kangaroo bonds due in August 2020. Raised more than $33 million in funding. It is reported that this is the first bond to be created, allocated, transferred and managed throughout its lifecycle using distributed ledger technology. [2019/8/19]

News | World Bank Presidential Candidate Is a Bitcoin Optimist: According to Bloomberg, Mohamed El-Erian, the current Chief Economic Advisor of Allianz, is one of several candidates Trump has selected for the President of the World Bank. El-Erian has long been a bitcoin optimist, calling bitcoin a "disruptive" technology that could play an important role in the future of peer-to-peer transactions. [2019/2/2]

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