- Shanghai Tanlian is looking at developing a new functional Carbon reduction platform.
- The platform will be floated in collaboration with CIRCUNOW and ESTS.
Shanghai Tanlian Technology Co., Ltd., the company behind VeCarbon, the VeChainThor public blockchain has inked a collaboration with CIRCUNOW and together they have reached an agreement to develop a carbon reduction disclosure platform. The platform would be focused on circular cash products which were previously certified by the three-party public trust certification body known as ESTS.
CIRCUNOW is an interdisciplinary innovation platform co-founded in 2021 by Zhihua Duan and Agni TY Lee to focus on the circular ecology of recycled materials and products in the ESG field.
Highlights on the Role of the Proposed Platform
It is specifically focused on promoting sustainable materials and a carbon-neutral economy. The activities carried out at CIRCUNOW spans original research and development of sustainable recycling materials, manufacturing, business empowerment, recycling and operation of recycling materials and products, and conveying products.
Together with VeChain and ESTS, CIRCUNOW is looking to provide a digital solution to the recycling of physical goods.
They are considering a more green-friendly and appropriate approach towards carbon emission reduction. Recycled products will have to go through the full lifecycle carbon emission reduction phase and then their product carbon chain quantifiable value would be calculated. In the end, products that have successfully completed the process would be certified.
Each recycled product that features on the CIRCUNOW platform would also have an exclusive blockchain product traceability QR code powered by the technology of VeChain. Whenever any information about the carbon emission reduction and certification reports is required, the QR code would be scanned. In addition, tags and brochures related to the products would-be available for download via the QR code.
According to a translated version, Hu Minxi, the General Manager of CIRCUNOW said “Through the close cooperation with Shanghai Tanlian and ESTS, we have completed the transparent traceability of the carbon emission reduction of recycled products, and more friendly implementation of the company’s true circular and sustainable environmental protection concept.”
VeChain Push for Global Expansion and Sustainability
VeChain on one hand is known for its outstanding cutting-edge innovative technologies towards traceability. The protocol has a range of products that has been instrumental to the advancement of blockchain, especially as it concerns climate and sustainability initiatives in the market. Its Proof-of-Authority (PoA) consensus mechanism is one of VeChain’s key innovations. It makes it easy for VeChain to not heavily rely on computational power while simultaneously allowing fast transaction confirmation.
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At another time, it was a partnership deal with a billion-dollar supply chain management company BCW Global.
VeChain collaborated with the firm to drive global expansion and sustainability initiatives, and promote transparency, traceability, and environmental responsibility in supply chains via blockchain technology. Ultimately, the VeChain blockchain platform was responsible for tracking the carbon footprint of products throughout their lifecycle, from production to disposal.
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