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The United Arab Emirates (UAE) has announced plans to develop a national system for carbon credits using blockchain technology in a pioneering move.
The carbon credit system is a joint venture agreement between the country’s Ministry of Climate Change and Environment (MoCCAE), Venom Foundation, and the Industrial Innovation Group LLC, Gulf Business reported.
Minister for the MoCCAE Mariam bint Mohammed Almheiri said relying on blockchain technology for carbon credits offers several benefits to the country’s objectives. She pointed out that the move will provide higher levels of…
