IBM has created a blockchain-based asset management system to help businesses in China monitor and manage their emissions. It is hosted on Hyperledger, an opensource, openly governed platform for data management. IBM is working with China-based Energy-Blockchain Labs to scale the system.
An opensource, openly governed ledger offers Chinese businesses a means to monitor progress on carbon emissions that is beyond corruption, and therefore can offer a clear picture of a complex situation. As Cao Yin, Chief Strategy Officer of Energy-Blockchain, comments in IBM's press release: “Blockchain technology is expected to become an important means for effective control of carbon emissions, which is of great significance to China, the world's largest source of carbon emissions.”