The Hashgraph Association Partners with Blockchain for Energy to Strengthen Carbon Emissions Management for the Energy Sector
Built by Blockchain for Energy, B4Ecarbon has revolutionized emissions management in the energy sector, providing decentralized solutions for increased transparency and accountability.
ZUG, Switzerland, Nov. 11, 2024 /PRNewswire/ -- Today, The Hashgraph Association (THA), a Swiss-based organization and leader in digital innovation, announced its collaboration with Blockchain for Energy (B4E), a leader in decentralized digital solutions for the energy sector. This partnership aims to enhance efficient, traceable, and transparent transactions built on a decentralized energy ecosystem. As part of the collaboration, THA will expand its Hashgraph Enterprise Grant Program (HEP) to include Blockchain for Energy's emissions management solution, B4ECarbon, which leverages Hedera's DLT to drive transformations in the energy sector.
The Hashgraph Enterprise Grant Program (HEP) is designed to accelerate the development and deployment of enterprise use cases on the Hedera network.
B4ECarbon is the energy industry's first comprehensive emissions management solution, leveraging blockchain, artificial intelligence, and IoT systems. This decentralized AIoT design model addresses the urgent need for accurate, transparent, and verifiable emissions-related data.
The solution provides an intelligent and highly-secure digital framework for data-driven verification processes of ecological claims, aligning with regulatory bodies and capital markets. The B4E Carbon solution offers industry-wide support, including Oil and Gas, CCUS, and Geothermal Energy.
B4ECarbon leverages the power of Hedera, Hashgraph's advanced distributed ledger technology, and the Guardian open-source platform. This creates a secure, traceable, auditable, and efficient decentralized infrastructure for data management and transparency. Hedera's DLT, artificial intelligence, and IoT systems make B4ECarbon the new standard for digitally measuring, reporting, and verifying emissions claims. By combining AIoT with DLT technology, the platform enables operational efficiency, improves data quality and transparency, and strengthens overall management and analytics, reducing the risk of greenwashing and fraud.
Notable B4E representatives include global and international firms in the energy sector, such as Chevron, ExxonMobil, ConocoPhillips, Repsol, Chesapeake Energy, Devon Energy, Schlumberger, and Enovate AI.
The tokenization inherent in B4ECarbon champions data integrity and interoperability by adhering to the frameworks and standards set forth by the Interworking Alliance (IWA). B4ECarbon representatives are actively engaged with the IWA to foster the further development of IWA frameworks.
Speaking on the importance of The Hashgraph Enterprise Program (HEP), Kamal Youssefi, President of The Hashgraph Association, stated, "At The Hashgraph Association, we are proud to continue supporting companies that deliver environmentally sustainable solutions in an innovative and compliant way. The B4ECarbon platform fits perfectly into our Hashgraph Enterprise Grant Program and overall mission, providing an intelligent and secure digital framework for validating environmental claims. This comprehensive emissions management solution serves industries such as oil and gas, geothermal, and hydrogen."
Speaking on the benefits of the collaboration, Rebecca Hofmann, Founder and President of Blockchain for Energy, said, "We are very excited to be working with The Hashgraph Association, combining our in-depth industry expertise with THA's substantial technical resources. Together, leveraging Hedera DLT, we are providing energy companies and leaders with a robust solution for producing high-quality, transparent, and immutable emissions-related data. This not only eliminates the potential for greenwashing and fraud but also prevents double counting in emissions claims."
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