[Rejected] Singaporean Company Launches World’s First Blockchain-Enabled Carbon Trading Exchange

AirCarbon Pte, a Singaporean exempt private company, has established the first-ever blockchain-powered carbon trading exchange that will permit corporate buyers and airlines to sell and purchase tokens subsidized by carbon offset credits. This is based on the approval of the International Civil Aviation Organization. 

According to Bloomberg, the company has appealed to the Monetary Authority of Singapore (MAS) to be given a valid market operator license as its objective is to have the carbon trading exchange entirely operational in 2020.  

It is projected that some credits to trade will be generated after the exchange finances the registration costs of various carbon-mitigation projects free of charge. 

As reported by Blockchain.News on Oct. 18, CIMB Bank Singapore and iTrust successfully finished their first trade financing transaction. It was founded on iTrust’s functional Blockchain and Internet of Things (IoT) structure. 

This collaboration has been exceptional as it has set the ball rolling in the blockchain trade financing arena. Notably, it is the first-ever to be accomplished. The transaction involved the financing of Chinese dairy products with a speculated transaction flow of nearly US$100 million annually. 

Through its blockchain and IoT platform, iTrust is expected to avail real-time and safe visibility of the cargo in the warehouse and in transit.