SINGAPORE / BANGALORE, October 3, 2024 – In a move aimed at enhancing transparency and efficiency in the carbon credit market, blockchain innovators InfraBlocks Technologies and KrypC Technologies have announced a strategic partnership. The two companies have signed a Memorandum of Understanding (MoU) to jointly develop digital solutions that promise to simplify the management and tracking of carbon credits.
The collaboration will combine InfraBlocks’ expertise in carbon market solutions with KrypC’s experience in enterprise blockchain technology. Together, they aim to create a scalable platform that addresses inefficiencies in carbon credit lifecycle management. This partnership comes at a crucial time when businesses globally are looking for more reliable systems to meet sustainability goals through carbon offset mechanisms.
The partnership will focus on creating advanced tools that streamline the processes of issuing, validating, and verifying carbon credits. This development aims to meet the rising demand for better transparency in carbon market transactions. The integration of blockchain technology into the carbon credit system is expected to enhance accountability by providing end-to-end traceability.
“By partnering with KrypC, we are taking a significant step toward delivering streamlined and transparent solutions for carbon credit lifecycle management,” said Cédric Joutet, Co-Founder of InfraBlocks. “Our combined technology capabilities will set new standards in the carbon market, ultimately providing a seamless user experience for all stakeholders.”
As carbon markets grow globally, one of the major challenges has been tracking, validating, and managing carbon credits with transparency and consistency. The partnership between InfraBlocks and KrypC is designed to tackle these pain points. The proposed platform will allow companies to trace carbon credits from origination to retirement, enhancing trust across the market.
Ravi Jagannathan, Director of KrypC Technologies, emphasized the importance of blockchain in this transformation. “The growing global emphasis on sustainability has exposed significant challenges in carbon credit management. By leveraging blockchain technology, this partnership will provide a robust platform that ensures transparency and builds trust, helping industries meet their sustainability goals with confidence.”
The MoU underscores a shared commitment to innovation in the carbon credit market. The partnership aims to lead the charge in integrating digital Monitoring, Reporting, and Verification (MRV) services and enhancing lifecycle management across the carbon market ecosystem. Both companies believe that the solutions developed will serve as a benchmark for digital carbon credit management and help build a more trustworthy and efficient infrastructure for carbon market participants.
This collaboration is set to pave the way for groundbreaking developments in carbon market solutions, signaling a step forward for industries and governments focused on meeting their sustainability commitments.