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Published 4 months ago Table Of Contents
The Universal Protocol Alliance (UPA), a coalition of leading blockchain companies including Bittrex Global, Ledger, Certik, Infinigold and Uphold, today launches Universal Carbon (UPCO2), the world’s first tradable carbon token on a public blockchain that can be bought and held as an investment, or burnt to offset an individual’s carbon footprint.
With demand for carbon credits outstripping supply by a factor of 4 to 1 in 2020, according to the World Bank, the UPCO2 Token is set to democratise an important new asset class, which could lead to the establishment of a global clearing price for carbon (as today exists for such commodities as oil and gold) and more resources going into environmental projects.