VeChain’s SaaS platform will empower companies with a solution that can record pollution outputs and link the data to third-party organizations to verify reports. Using this new tool, VeChain aims to use blockchain technology to more accurately measure its carbon footprint, as opposed to questionable measurement techniques available now.
According to Treasury Secretary Janet Yellen, bitcoin could be linked to pollution and crime. Ethereum and bitcoin are raising concerns due to their pollution quotient, which has led to a significant political crisis in the industry.
The VeChain Foundation has expressed concerns about the incorrect reporting of carbon footprints as there is no independent verification. Sources say there is a prevalent issue of skepticism in carbon emissions data and lack of clarity in the absence of independent reporting.
VeChain will connect and record information every step of the way in the industry using its blockchain and Internet-of-Things technology. With the help of VeChain SaaS, the carbon footprint of the manufacturer, the producer and the customer will be covered. VeChain Prediction Is poised to revolutionize the way carbon footprint is tracked.
The problem is that consumers are more interested in their carbon footprints. The payment is known as Elon Musk’s Tesla accepts bitcoin. However, the big picture disappears in the carbon footprint scene. With the new VeChain tool, countries like China with their power-draining crypto mining farms will come under question.
Citing Alexandre Gellert Paris, Representative of the United Nations Framework Convention on Climate Change, the VeChain Foundation noted that blockchain can provide better stakeholder transparency and participation. It can gain confidence and offer constructive solutions to tackle climate change and thereby enhance climate action.
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