coindesk.com
Chia Netwok, the smart transaction, energy-efficient platform created by BitTorrent founder Bram Cohen, is developing a target="_blank">Climate Warehouse, the company said on Friday.
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The World Bank selected Chia for the initiative, which will enable the Climate Warehouse “to facilitate the transparent sharing and reporting of climate project information and its issuances,” Chia said.
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The Climate Warehouse, part of the World Bank’s Carbon Markets and Innovation unit, was launched to help countries meet pre-set targets for carbon emissions that are leading to climate change.
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San Francisco-based Chia aims to reduce public blockchains’ energy dependency. The company raised $61 million in a Series D funding round at a valuation of $500 million earlier this year.
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Chia described the project as a “non-exclusive, open source and no-cost solution that we are developing for the public good.”
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A Chia spokesperson said the system will be operational by the first half of 2022.