UAE Government Launches National Carbon Credit System with Venom Foundation

Summary

• Venom Foundation has partnered with the UAE Government to launch the National Carbon Credit System.
• This collaboration is a significant step towards leveraging blockchain technology for environmental challenges and sustainability.
• The Memorandum of Understanding signed outlines four strategic objectives: reducing emissions, promoting sustainable agriculture, enhancing environmental health, and conserving biodiversity.

Venom Foundation Partners with UAE Government

The Venom Foundation, a leader in blockchain technology adoption in regulated markets, recently announced a momentous Memorandum of Understanding (MOU) with the UAE Government. This partnership will develop and implement the National Carbon Credit System for addressing environmental challenges and promoting sustainability on a national scale. Leveraging the next generation blockchain technology of Venom, this collaborative effort will propel the nation towards its ambitious climate targets of 40% reduction in carbon emissions by 2030. The MOU was signed between Ministry of Climate Change and Environment (MCCE), Industrial Innovation Group, and Venom Foundation.

Objectives Of The Collaboration

The core objectives of this collaboration are to reduce emissions, promote sustainable agriculture, enhance environmental health, and conserve biodiversity. As part of this partnership agreement, Venom will actively participate in realizing a greener future. Taryam Matar Taryam CEO of Industrial Innovation Group stated that they are dedicated to sustainable development through decarbonization as global climate change is closely linked to increasing CO2 concentration in atmosphere.

Venom Blockchain Technology

The Venom blockchain itself is carbon neutral which provides an advantage over other technologies in terms of implementing National Carbon Credit System effectively and efficiently. It ensures reliability while offering transparency throughout the whole process which makes it more secure than traditional methods used for managing carbon credits systems.

Conclusion

This collaboration has demonstrated the UAE’s commitment towards bolstering transparency, reliability and efficiency in carbon emission management while using advanced blockchain technology from Venom Foundation to help them achieve their climate targets by 2030. This revolutionary partnership represents an important step forward for leveraging blockchain technology for environmental challenges on a national scale.