From soil to the blockchain: Carbon gets minted

LONDON - Dec. 15, 2021 - PRLog -- DOVU has launched its carbon NFT platform, transforming carbon sequestered in soil into carbon offsets as dynamic NFTs. The DOVU Carbon Market is powered by Hedera Hashgraph; at the forefront of extending tokenisation technology by connecting tokens to an infinite amount of evidence, this is a perfect use case for carbon offsets.

Each tonne of carbon on the marketplace is sourced directly from farmers and independently verified. It then becomes certified through the use of distributed ledger technology (DLT). Each seller on the platform can showcase information about the land where the carbon is stored. The platform launches with farms based in the UK and Bulgaria.

The DOVU Carbon Market is designed for organisations that are concerned about their carbon footprints. Buyers can find out more about the source of the carbon and make a purchase. Once purchased, they own a certificate that provides verifiable proof that they have offset their carbon.

"We wanted to create a solution that would facilitate green decentralisation, especially since  crypto and NFTs generate a significant carbon footprint. Our goal is to enable organisations to be able to offset this at scale with highly verifiable carbon, sourced directly from farmers," says Irfon Watkins, CEO, DOVU.

The project is built on Hedera Hashgraph and DOVU is working with the HBAR Foundation to bring a continuous supply of audited carbon into the ecosystem, as a flagship application for the network.

"We're very excited to see the launch of the DOVU Carbon Market. DOVU provides an excellent example of how companies can provide enhanced transparency into the source of their offsets, by leveraging Hedera as the trust layer for sustainability assets. Through DOVU tokenised carbon offsets and leveraging dynamic NFTs, users can better understand the source of the assets they're buying, the methodology utilised, and the roles and actors involved," said Wes Geisenberger VP, Sustainability & ESG, HBAR Foundation.

DOVU and HBAR Foundation are hosting a Twitter Spaces to discuss this project with the community. They'll be joined by one of the farmers whose land is featured on the marketplace. The DOVU x HBAR Foundation AMA will run from 19:00 GMT / 14:00 EST - 20:00 GMT / 15:00 GMT. Follow @dovuofficial and @HBAR_foundation to join the conversation.

The DOVU Carbon Market is live at www.dovu.market.