10 August 2023

Generative Art Platform Fxhash Secures $5M in Seed Funding Round Led by 1kx

The Seed Round Fxhash, the groundbreaking generative art platform and marketplace, has successfully closed an oversubscribed $5 million seed fundraising round. Spearheading this investment initiative was 1kx, an early-stage crypto-focused venture capital firm renowned for its strategic ecosystem growth investments. Founded in 2021, Fxhash has emerged as the...

Cambridge University Will Build A Decentralized Carbon Credit Marketplace On Tezos That Will Support Reforestation Efforts Worldwide

Cambridge University is building a carbon credit marketplace on Tezos to support reaching the UN Climate Change Conference (COP26) goals and help halt deforestation.

The Cambridge Centre for Carbon Credits (4C), built on the energy-efficient Tezos blockchain, will use a combination of AI and satellite sensing to build a decentralized marketplace of verifiable carbon credits.

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

New Cambridge-built Decentralized Carbon Credit Marketplace

  • World leaders at COP26 have agreed to end deforestation by 2030, but there are deep challenges remaining about how to fund and verify progress towards this goal.
  • The Cambridge Centre for Carbon Credits (4C), built on the energy-efficient Tezos blockchain, will use a combination of AI and satellite sensing to build a decentralised marketplace of verifiable carbon credits.
  • The initiative seeks to tackle challenges around the purchase of carbon credits to advance nature-based solutions (NbS) to preserve biodiversity.

World leaders at COP26 have agreed to end deforestation by 2030, but there are deep challenges remaining about how to fund and verify progress towards this goal.

To improve funding techniques for nature-based solutions (NbS) that help reach the COP26 goals, the Cambridge Centre for Carbon Credits (4C) will use a combination of AI and satellite sensing to build a decentralised marketplace for verifiable carbon credits.

This marketplace is being built on Tezos. The choice for Tezos came naturally due to its low energy consumption which is in line with the Centre’s vision to support a sustainable future through technology.

Additionally, Tezos’ decentralized nature and battle proven and functional tech, combined with the ability to evolve in a swift and forkless manner, are qualities that do not remain unnoticed.

Nature-based Solutions

To solve the carbon emission problem, several solutions are at hand. Nature-based solutions, particularly forests, have a vital role to play in mitigating the worst effects of climate change.

Forests naturally remove carbon out of the atmosphere and a global programme of well-executed nature-based solutions (NbS) to sequester several gigatons of carbon each year and protect biodiversity. However, current NbS projects are hampered by chronic underfunding.

Carbon Credits

carbon credit is a generic term for any tradable certificate or permit representing the right to emit one tonne of carbon dioxide or the equivalent amount of a different greenhouse gas (tCO2e).

In cryptocurrency, we see the term carbon offset occur a lot. Whenever you see this term appear, you will be reminded to the fact that these carbon offset solutions will be able to get a carbon credit certificate through the Tezos-based carbon credit marketplace created by the Cambridge Centre for Carbon Credits.

Cambridge Centre for Carbon Credits

Centre Director, Dr Anil Madhavapeddy stated:

“Current accreditation systems that measure and report the value of carbon and related benefits like biodiversity conservation and poverty reduction rendered by NbS are costly, slow and inaccurate.

These systems have undermined trust in NbS carbon credits. What is needed is a decentralised marketplace where purchasers of carbon credits can confidently and directly fund trusted nature-based projects. And that’s the gap the Centre is aiming to fill.”

The Centre will support 12 PhD students and postdoctoral fellows, and investment to prototype a scalable, trusted NbS marketplace.

Researchers funded from the Centre will come from the Departments of Computer Science and Technology, Zoology, and Plant Sciences, as well as from the Centre for Doctoral Training in Artificial Intelligence for the study of Environment Risk.

Professor David Coomes, Director of the University of Cambridge Conservation Research Institute, said:

“Conservation strategies are increasingly broadening to include large datasets, remote sensing technologies and computational approaches. The Centre for Carbon Credits is a ground-breaking initiative that will bring together computer scientists and conservation scientists in a new way.”

Andrew Balmford, Professor of Zoology, said:

“The recent announcement at COP26 of the new commitment to halt and reverse forest loss and land degradation by 2030 demonstrates the crucial role forests play in carbon capture and the health of our planet.

The new Centre has a significant role to play in supporting crucial research to develop new, trusted mechanisms to support reforestation projects.”

Speaking on the collaborative nature of the Centre, Professor Ann Copestake, Head of the Department of Computer Science and Technology, said:

“In the last few years, we’ve been expanding our emphasis on the use of computer science techniques and technologies to help address the climate emergency and the crisis in biodiversity.

We are delighted to be bringing our research strengths together with the expertise in environmental science across the University of Cambridge.

We hope the work resulting from this interdisciplinary collaboration will lay the foundation for tangible solutions to some of the environmental challenges facing the world.”

Learn more about the Centre for Carbon Credits (4C)

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

Upload Article

Complete the submission form, which includes fields for your name, contact information, a short author bio, and the title of your article. Submit your Word document as a word doc file. If you encounter any issues during the submission process, please contact our support team for assistance at info@xtz.news. We encourage all aspiring contributors to read and understand our submission guidelines and editorial policy before submitting.

[gravityform id="3" title="false" ajax="true"]

Other News

View More
Tezos Robinhood

Robinhood Adds XTZ to Its Cryptocurrency Offerings for New York

Robinhood, a popular trading platform known for democratizing access to financial markets, has expanded its cryptocurrency services in New York State by adding Tezos (XTZ) to its list of available digital assets. This development allows New York-based users to buy, sell, and trade Tezos, enhancing the cryptocurrency’s accessibility…

Read More

Tezos X: A Vision for the Future of Blockchain

Today, Tezos X has been unveiled, presenting a forward-looking vision for Tezos that marks a significant evolution from its original design. According to the official blog, this vision addresses some of the most fundamental issues in the blockchain space, aiming to enhance usability and utility while maintaining the core properties of blockchain technology.

Read More

Werenode: Fusing Blockchain Brilliance with EV Charging Innovation

As electric vehicles (EVs) become more prevalent, Werenode is leading the charge by revolutionizing the EV charging infrastructure through blockchain technology. By leveraging Tezos and Binance blockchain technology, Werenode aims to simplify the EV charging process, ensuring secure, transparent, and immutable transactions. Their approach tackles key challenges in the industry, such as network fragmentation, interoperability, and complex payment systems.

Read More