2023 06 09 PS Sig
Jim Mason: There we go. Jim Mason: so we're up and running there and then. Before I introduce the session, I want to give you a little bit of background on Hyper Ledger, and Linux Foundation. So Hyper Ledger is a project as part of the Linux Foundation and a couple of things. We have people today who are attending from Jim Mason: the Hyper Ledger virtual meet up community. We have quite a few of those that had promoted this session, and I think many people are coming in from there. We also had this listed as a hyper ledger public sector session as well. So you might have come in that door as well so as they
Jim Mason: as a session as part of Linux Foundation. I want to welcome everyone. Today. We have 2 things to talk about. First is the N. A trust policy. We recognize that in these hyper ledger meetings we often have, people who are representing different industry competitors. And it's the intention of Linux Foundation that we want to conduct all of our activities in accordance to, in a sense comply with any anti trust Jim Mason: and competition laws that exist. So you know. Please be sure that from your attendance here doesn't violate any of those and your participation won't either. Jim Mason: that's an important thing. If you want to see more in the N trust policy that's at the Linux Foundation Org and we also have a code of conduct for Hyper Ledger which says, we're create committed to creating a self safe and welcoming environment for everyone. Jim Mason: And what does that mean? It means we treat each other with respect, professionalism, fairness, and sensitivity for our differences in its strengths at all times. So that's fairly basic. And I think 99.9 of the time. That's exactly how our membership does operate, which is, a a wonderful group to be part of from my perspective.
Jim Mason: with that, let me check chat. so got a couple of people here from different locations. That's great. So Jim Mason: now that I've talked about. in a sense, hyper ledger a little bit as an organization. let's shift over to today's session. We're gonna talk about Esg and blockchain, and I have Mohan ven Kataraman, who is the CTO of chain yard and has I'll put more experience and I think I'm reasonably experiencing blockchain, but he definitely has more than I have. He's been in the space longer, and his company has, and they've done quite a lot Jim Mason: with hyper ledger over the years. But on top of that Mohan has had the opportunity to become more involved in esg
Jim Mason: both through his company, and independently, and really wrote a great article. That caught my eye, and Jim Mason: wra is the reason I asked him to do this session here. So I with that I, Mohan, I want to turn it over to you and let you take control. I'm going to stop to share, and you can tell us a little bit more about your background and the topic today. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Thank you, Jim. Let me share my screen now first.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and we shall proceed from there. Jim Mason: Okay, your screen is coming through Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): all right. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): So I think, Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): you all can see the screen now, and you can hear me right? Jim Mason: Yeah. So yeah. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): So I want to begin by thanking, you know, because I was not planning this session. I was not even thinking about it. But I don't want to thank both Hyper Ledger Foundation. They would. Boswell and Jim, you specifically for requesting the session. And, you know, presenting it today. So really, thank you very much, because I was not thinking about it. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): They also want to include certain others like trust. Your supplier is our own platform. It's a joint venture between Chainyard whom I work for and I'd be it's started off as a with Ibm. But today it is an independent hyper ledger fabric based platform that runs and there are. It is one of the most
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): production grade networks that is operational in the built over the last few years, and in production 2 years with big names like Ibm Lenn over one and so on. And it focuses on supply at risk. In the second. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): I want to thank Chainyard because the whole brand of chainyard came aboard because our parent company, it people, was originally focused on manage services. And you know, staff augmentation type work. But chainyard after we started working for Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): working behind the scenes at Ibm on the hyper ledge of fabric to a fabric testing. we had to re-rand ourselves as chain out to denote more the work we do in the blockchain space. So so thank you so much. And with that, let me just say a brief Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): about Cheneya. He's a brand name under which we do work in both blockchain and web, 3 constelling and advisory services It is based in North Carolina. We have offices right now very close to the airport, and we have global offices in India, Philippines, Vietnam, and activities in Europe. we have a Europe, Ireland as well as Middle East. So we do a number of projects globally distributed.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): I've been personally engaged with more than 50 projects 50 engagements. I will not see a project, but 50 engagements. Many of them are Poc's in the blockchain space, where it's public, itadium, private, itadium pipeline. So finance blockchain services, hyper ledge of fabric, and few of them are in production Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): which we have supported on the services side and our own trust. Your supplier is in production. for for the last few years. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and finally, you know, we do support big customers. Leno, Ibm. The government of Dubai, the government of Saudi, Arabia, Saudi Aram Co. government of barring the Us. Federal government. We have done a number of projects, and we operate, and we conceived, and we we run, trust your supply and network. So www. Dot trust is applied.com.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): That is our claim to fame. But even before that, you know, we used to be for everyone who has used hyper ledger fabric Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Behind the scene. We had a team that worked in Ibm blockchain labs that was actually responsible for testing and building those images before it went into open source. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Of course, today it is all entirely managed by the Iper Ledger Foundation, but until 2 years ago we were doing it, for on behalf of Ibm Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): The. So
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): I want to just start off by saying that see, this presentation is is based on amount of information that I have gone through as well as acquired, and the reason for that is being I was on a panel on blockchain, on Esg and blockchain at big for us University. I did present Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): some of our views during the consensus in the hyper Ledger booth, and, more importantly, trust your supplier or room platform is engaged in es, and this space is like very enabled. So I said, Let me understand what it means, and that is this presentation about. I am by no means an expert. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): but I have enough knowledge to be either dangerous or to sound ignorant. Right? I mean, like you can make that judgment call So that's the just of this. So you can absorb a lot of things, and then you can go and do your own research. But it is a very big space. But fundamentally the whole Esd space came aboard. Because we want to save this planet. We want to, you know control. You know, where deal with this climate crisis Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and all these emissions that are a are created by humankind, and that is the that, in in short, that's what it really is about. But then it has expanded into this Esd framework which is dealing with environment, social and governance. So let's you know. So I started to look at what is Esg, and if you really look at what is the Esd, the environment portion
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): focuses on how to what degree a company is as a ring to sustainable practices. So when I say sustainable practices, it is, for example, if they are using Forrest word, and as part of their manufacturing process, are they going back and ensuring that the areas where they have utilized the the forest have been reforested or maintained a property or whatever Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): right? So to one that you know, to what degree are they following sustainable practices? The second is like, it also measures the environment, measures, the impact of human activity, the business activity on the plan, such as the use of water or the you. You know all that the the use, utilization of forest and wood minerals. How much of emissions Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): our emissions of greenhouse gases going into the atmosphere like co 2? Or what kind of damages do they cost to the environment? So it deals with all these things. It is not just about carbon emission, but it is about, how much does it impact the demand?
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): The second aspect is like social Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): social is, to what degree does a business have, you know, have relationship with its people, both internal and external. You know internal meeting employees employees and their children and their families and externalists, customers and all their supply chain partners? Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Are they giving fair wages, are they, you know, ethering to our best, you know, environmentally sustainable practices with respect to labor, are they giving back to the community? So if if a plant is opened in a neighborhood and they are using all the resources, are they also giving back to the community? So it measures Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): the social impact of a businesses activity within that, you know, within the within the environment, and the last is like governance. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Every company has guard, governance practices and governance establishes. the of procedures, policies, guidelines, and other measurement. You see Api's, for example, to see how well that company is uttering to the needs of the environment, their social goals.
and also internally. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): how are they managing the interpretation of the company? Are they? How are they complying with the reporting requirements? Are they from flying with environmental regulations and so on. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Now, what is they? Do? A survey last year? with all their customers, and the number one you know, issue that customers. One address was Esg. You know, it's a part of the annual survey esse has taken a lot more importance in recent years. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): So Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): lot of started. Look at what? What does he mean? And how do you address it? And if you. If one looks at that is, it is not just about carbon emission. But there are a number of areas. I try to classify that into these 5 Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): One is, it deals with compliance reporting, because EPA, for example, now requires companies to report on their emissions. So that is compliance. Reporting requirements and different countries have different requirements.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and of course there is emission reduction, and that the emission reduction that are various based by which emission reduction projects can be initiated some dealing with, you know, carbon farming and sequestering, some dealing with migration towards electrical energy from Some are dealing with Foss, you know, moving from fossil fuels to renewable sources. So there are many projects within each one of these categories. Emission Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): plastics management. The number one pollutant of the oceans is plastic, and there are a lot of initiatives on. How do you collect the plastic waste? How is it sorted? How is it recycled, and whatever accesses there? How is it Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): disposed? Plastic pollution is not just an oceans, because micro plastics is polluting a lot of areas which are where there are no plastics at all. For example, micro particles of plastics have been found in mountainous areas and in areas where there is no plastic usage, so that on initiatives to see how to. I measure the impact of these and how to control them.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): then land and water management, the number of companies utilize water and forests. So this it deals with projects in the forest management space. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): in the restoration of marine life. You know, there's a lot of coastal West lines. How do you? How do you restore and have projects that maintain our coastal wetlands and carbon friendly agriculture? Now, carbon friendly agriculture means? How do you use natural fertilizers versus artificial fertilizers. How do you ensure the waste of agriculture? It does not release back Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): carbon or methane back into the atmosphere. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): The lastly waste management we all recycle our waste right? And so there are a number of any products that deal with based management based management from household waste. How is it collected. And how do you recycle process, the waste? How are the electronic ways dealt with? Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): So there are projects in a number of areas. And and there are other projects to beyond beyond what I have listed here. But these are all major categories of projects
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): to deal with our E environmental goals. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): If you look at the whole all the all this carbon offset, or whether it is any any any of these initiatives that are going on, you know, the process is very simple. I mean, I've summarized this process the way I understand. And it it it is almost close to that is, organizations Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): make commitments. So, for example, you know, Leno could make a commitment of saying we would. we. We want to become carbon neutral by, let us say, 2,070, or a Acme Corporation by 2,050, and then they set up certain goals, and once they set up goals, then they have plans as to how to achieve those goals. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and that results in initiating projects. So companies can initiate projects internally. companies could invest in carbon friendly projects or sequestering projects that are fine, that are by third parties. For example, here Vera and MOS, where I is one of the standards, the most adopted standards.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): There are a lot of issues there are, but where our standards where I publish this registries and so on. Moss is a project that is about Amazon for us. You know. How do you? re-for us? The Amazon for us in South America? they they have tokenized the offsets as well as they allow people to purchase areas where re-for inspiration will occur. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): The second step in this process is once the projects are initiated, then how does one measure it? You know, measurement is one of the biggest issues. And you know. And and once the measurement is complete, then it has to be a reporter. So companies are reported in their annual reports, or periodically. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Now, the Ghg Protocol is one of the most widely used you know they publish. how to measure, how to account for carbon and all the categories under which, accounting happens? What are the elements you should use in terms of your accounting. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): If it is reported. Now, somebody has to validate and verify that.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): So verification is done by a number of agencies. You know companies like Ecovartis, Pwc. In the case of the BC. The little mines trust Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): they all go and verify data that is provided by corporations. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): If that verification based on the verification companies take account into their carbon programs. As to how much have they sequestered, or how much have they met their goals? Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Then, of course, the cycle continues. Then companies go back and look at all their projects, monitor them, and if there are any corrective actions that need to be taken, then they start controlling those projects. They will shut down certain projects and any shared new ones. if but we anything else. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and the obvious Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): sorry.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): So that is a typical cycle in the in this, in this model, and there are variations operated. If you go and read, there'll be a finer points and details. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Now it's under a variety by of ways by which carbon you know, carbon emissions have been, say, you know, reduced. So one model is the carbon offset, you know. tokenization of lifecycle with carbon offsets. Everybody hears about it. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): We're not carbon offsets, essentially, you know, as the company, let us say, I work for Cheney, and then we em it. We pull you, and you know, carbon into the atmosphere. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): But then, for a company like Chainyard, it is going to be very expensive to invest in new technology and invest in measurement techniques in order to reduce our own emissions. So what we're chain out, do it would go into the market, and then invest in a project that is actually sequestering carbon on reducing emissions. These projects could be third party projects
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): like the mosque project. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): So when Cheney, in order to in order to make its own commitments for carbon emissions, goes and invest in a third party project. So suppose we made a commitment of sequest setting, let us say, 100 metric tons. This year Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): we could go and invest in a project in the mosque project where you know, it's We could. We could fund some of the portions of the project and buy carbon offset. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and those would be treated as we have actually reduced our emissions by that amount, even though we have internally not done anything to reduce our own emissions. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Typically carbon offsites are traded in the markets, and one carbon offset. Token is usually one metric. That is the typical agreed. you know one that token represents. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Now you imagine that a car can pollute, in fact, 3 months for a car to pull your one metric ton, but it takes 40 years for a tree to sequester one metric ton of carbon.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): So that's the kind of difference, right? It's easy to emit carbon, but to sequest it, it a simple example of a tree would be like 40 years. I mean, this is an average. This is not written in store. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): So there are many offset projects in the world. Some of them are ring farms, some of them are reef for restoration, so others deal with landfill gas capture and management based management. Blue carbon products, essentially marine, are utilizing marine ecosystems, you know, and then forming anything for a form power meeting. There are so many different projects that are happening in the world, and those are all carbon offset projects. They have projects. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and those offsets are then funded by companies that want to control their own emissions, or at least prove they are controlling emissions.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): The second type is in setting, and this was very well said by Liam. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): That was the who is the founder of ever Ledger? essentially, when a company create, you know, does initiatives to control its own emissions. Now, usually the company would invest in internal projects. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Yeah, they may change the way they do. They improve their processes. They may adopt new technology like moving from electric, you know, standard fuel to solar panels. They may have better practices and other ways by which they improve their own operations.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and that way they decide to reduce their emissions. So this is in setting where a company really puts its efforts in terms of I mean, I've just written the process here. So on on the right side. But companies do their own initiative, and in order to reduce their emissions. So this is a very responsible. We are doing things, because the company is really making its own effort. Now, I did not mention in the previous case as well. That is a little flow chart I drew. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): And what this flow chart really says is when a project is initiated in the carbon offset world, or whether in the regular world. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): you know, it is initiated, and then it is registered as a project with a public registry. That is what the blue box says, and once the project is registered, it is then verified. You know the project documentation is prepared, and then third-party organizations verify and validate these projects. Once the projects are validated. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): then there is funding that these projects can ask for, and once funding is clear, the project can now, be evaluated in terms of credits. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): These credits are then available in the marketplace for The red portion represents chain, and let's say so. These these tokens are available for businesses so chain out as a company will look at how much their goals are, and then they could go and buy some of these tok offs, and if they are, if they offsets actually increase in price, they may either trade it, or they may account for it, as the project becomes successful and and take credit for it. So this is the little cycle here. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and that same cycle is seeing even in the in setting, you know, in internally, within a company there is nothing external here, so all the audience represents what we do inside our company, initiate a project, get funding for it.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and then, once the project is funded, it goes into it is then in a you know, it goes into initiation, or rather it goes, it is actually executed. And then measurements happen. The whole feedback cycle validate, and then we control the project in terms of, do we need to shut this project down? Or do we need to invest in new projects Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): that is in setting. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): And of course, we also hear about the regulated carbon market, right? So cap and trade, a lot of people make money in this. Usually. you know this carbon market is seen as a money making scheme rather than saving the planet.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): But if you really see the government, but what this cap and trade means is that a government or a regulatory body can? Typically Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): you know, set goals, for example, they would say, we want to reduce their missions across the energy industry by Xyz, or they could have set it for a group of states, you know, so they could set some goals now, once the goals are set, then they are translated into emission limits that are allocated to each one of these groups, and from there they have further broken down into allowances, and now usually allowances are metric tons of Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Carmen in terms of metric tons of carbon. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Those allowances are then allocated as carbon credits, so you can, as G may be allowed a certain allowance. Suppose you, as part, let us say so, they could look at their allowance, and then see how many credits to buy. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): You know how much of all you know emissions are allowed by them, and they could buy credits to meet that allowance now at the end of the year. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): If Duke energy does an analysis and see is that it has, it has actually emitted less than its allowance, then it could sell those credits in the market. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): If it is emitted more than the allowance, it will go and buy offsites because they have to stay within this allowance limit that has been set for their industry.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): So, looking at all the patterns, you know, and in all these cases none of them use blockchain, but somehow Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): I have put a blockchain here in from a perspective of saying that a blockchain can bring more trust and accountability into whether it is in setting off setting, or even cap and trade. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): so a blockchain will bring a lot of value. Now 3 different patterns emerge. If you look at overall landscape of the things that are happening in the Esg space. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): One is like the track and trace of projects. So if the MOS project is on, then there could be a track and trace of how well the MOS project is doing, from initiation, from origination to how it is progressing until the project meets its goals. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): There are various track and trace projects Trinium, for example, wants to track as that as material. There are a and, for example, Ibm tracks in this full trust platform from form Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): to you know the table. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): The other type of projects are related to trading and trusted record keeping of carbon offsets and credits. There's a lot of you know. what do you call issue in the marketplace? Where, there is, there are issues around double counting, double spend
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): are actually who is actually taking the credit for this particular offset, which company is taking credit for these offsets. Because once you start trading. The tokens are changing hands. So suppose Janey had bought these tokens and sold it to another company. We had this marketplace. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): then, who is actually finally getting the credit for that carbon offset, and in some cases that has been examples of double counting. One of the issues that we have faced is they. They moved away from the exchange markets because they could not actually trace who is actually getting the credit. So a blockchain could help track the moment of these tokens and the companies that are actually holding those tokens. And where did these tokens originate, and how to take credits for them? Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): And the last one is like, you know, supporting risk, audit and compliance, reporting Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): essentially, that is a lot of requirements in terms of compliance, reporting. You all have heard of Scope 1, 2 and 3 reporting and then, obviously, the Federal Government has mandated K funds to be a more Esg focus. So there has to be a lot of reporting. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): So these are the 3 patterns, and these cut across all kinds of industries. Whether it is supply, chain, health care, real estate energy. You would see the same patterns apply.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): I could. I could. I missed a few, and it would be nice for the team here to go and look and see if there are other patterns in the Esg space. Once a pattern is identified, we can have standardized solutions that can that can enable that pattern. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): The number of projects that are actually on track in the Esg space. This is very few list things that I felt was good. you know. Obviously, you'll see projects related to ratings are in the reporting. I put trust your supply on the top, which is our own project. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): initiated platform, that is, ditch carbon which carbon has been doing, scraping annual reports of many different companies that publicly report their Esg. And then converting it into metrics Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): had a chance to meet the ditch carbon CEO a couple of last week in a meeting. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Then, of course, you know the digital credentials for carbon accounting energy and Minds Trust. If anyone is a member of the digital Identity Special Interest group you know, the BC. Government and Energy and Minds Trust are working to account for, you know, sustainability reports from mines in the BC area. And they are using digital identity as one of the approaches to to, you know, manage and monitor those projects.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): And of course there are non blockchain projects like this. The Link Eco ward is Greenly. All these are only looking at Esg Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): companies, and that Esg, initiatives. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Moody is, of course, provides analytics to separate scores, for you know, environment, social and governance. They also give you a Dei score. It is up to each individual company to interpret what that score means. I've had a lot of debates with my team here in the office Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): as to how the interpreter scores. Suppose I told you my Gpa. Was 4 out of 10 or 10, you know, 7 out of 10. What does that mean, you know? So they score. These ratings are interesting, but one has to really go in and see what those ratings mean. And how do you take actions? Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): So these are all ratings, projects that are other projects like integrity. Next, Ibm supply, chain, intelligence, suite, and tinium, both those in in the yellow color is track and trace or in blockchain, but as the other is not integrating, next, there's not use of blockchain where these are tracking trace projects, then, of course, MOS project 2 con, which is essentially taking all the car projects in the carbon space and then tokenizing them
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): UN uniformly, and I'm making them available and on marketplace. Then if you have plastic bank which funds a lot of projects in the plastic space for management of plastic waste sale the planet and clumbed out. You know, it's more like Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): you know, essentially a token trading. They also support. what do you call in farming? as you have seen in the decentralized exchange space. So they do support all those. So clinic Clam D was another project. It is a doll. Essentially it is. The smart contracts manage all the interactions and the trading and the the earnings and stuff on this platform. They even have a token called plan. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): So these are all projects in the space. And there are many other projects, you know. I will share this deck at the end, you know. You click on it. I put the links to which take you directly to the websites Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): a little bit about trust your supply. Now trust your supply. We started this in 2,017 as an initiative between Ibm and us. It was blessed by Bob Murphy, Ibm CPU. At that time as a very good initiative. And what we, what it really does is it is a supplier. It is a buyer network. A network of bias will essentially assess the risk of a supplier from various angles. They assess their financial risk. Diversity as child level practices conflict. Man grows. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and now est it is, and various other things. That's what this platform does, but it is not doing it automatically. It is lying on a marketplace of
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): participants. So validators, you can say, are in Rachel's. So Ibm no Kia. These are all bias. They're all members of this network. We've been working on this since 2,017 ventured to production in 2122, because of Covid. And in, you know. So there are many other bios on the network. These are all the validators. Eco- what is, for example, does environmental risk assessment. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): you know. And then there is supplier that I/O done in Bradstreet. You don't see them here. Oh, that they are! Moody's rizzling! All of them are validators, and of course the suppliers are validated on this platform. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): frust your supplier essentially presents. So buy it comes in and the buyer wants to onboard a particular supply. I'm gonna say, chain out for doing business in the It services space. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): We go in and fill a number of questionnaires inside the system. Ibm would invite chain yard and the T-shirts of question is that a video relevant to that industry and relevant to Ibm chain out will complete those question is automatically smart. Smart attributes inside these question as are triggered by the blockchain. Smart contracts and the trigger will initiate equal warders or any of these third parties to review data, and in Richard. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and once it is enraged. The buyer can then look at it, and then take a decision whether to onboard them as their supplier, or to request more information.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): There's a lot of well benefits. We have seen reductions in cycle time, deductions, and risk and compliance and require, you know, reduction, you know, improvement and quality of the assessments quality of data. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): So trust your supplier is a network on hyper ledger fabric runs on Ibm cloud. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): When I do have a little more details then. But how does blockchain compliment to us and esc? Because one is, we have an immutable record of the data. So it is not easy to change. It's a network. There are multiple copies of the ledger. It is protected cryptographically. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): There are smart contract driven so smart contracts, gentlemen, what validations are needed. They also trigger automatic monitoring. So from the environment, events come in such as somebody's reputation has changed. And so it does. Automatic Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): you know, monitoring and reevaluation. That is digital identity. So each supplier gets a digital decentralized, I should change it to decentralize identity.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): It essentially follows the date pattern. And so any supplier can be globally resolved and validated to get information about them. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): It is that is being worked on right now. It's not in production, proof of existence, proof of verification. So a Moody's badge or an Ibm badge that they have already, you know, on boarded the supplier is all adding to the quality of the supplier and the trust in that supply. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): then we do cryptographic verification, that is, consensus, that is, transparency, meaning, like all the suppliers, can be seen. But if you are, if one is not a member of the network and they do not have access. Granted, only basic information will be visible. All transactions are private and anonymous tokenization in the words. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): So essentially a blockchain can drive this. So if a if a supplier provides a report, it can be securely shared with digital keys with the regulator
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): tis Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): is based on hyper ledge of fabric. It is based on no Js, and it uses no js, and fabric. SDK Mongodb, as it's off chain database. In addition to other databases, it utilizes key management services. you know, ecdsa-based encryptions. you know, it is non-invasive meaning like it. One doesn't have to install a component within their environments to use to use to. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): And it is got a very rich ui, that shows all kinds of dashboards that are customizable, built with react Js and last needs. It currently supports analytics. So this is the current architecture currently supports power, bi integration for dashboard and analytics. AI and other machine learning is in the words. Now, if you see the Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): the the main elements of you know, from a dental perspective to us works on different channels. There is a Tis ledger for the supplier data. That's a digital identity ledger. And then the Oracle Ledger, which maintains all the request responses between T. V. And third parties outside. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): And of course, you know, on this side, you know, there are. There's an integration framework, you know, cactus exists. But this was built even before that. It uses an agent. you know, manager framework. Essentially, this agent is available as forward to the supply to the who wants to install it on their premise as code as executable or you know, in on whatever form they want. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and there is a marketplace that also exists in the T-vis. In mind. This marketplace is any third party can come in and drop in an app like on your mobile phone, the app could be an Ecovartis app, and these apps automatically enriched data based on subscriptions. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): That's the platform. And it is now supporting Esg, and it is supporting a lot of other other kinds of requirements in the market from a risk perspective.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Now let us see how it does. Right? So this is focused on Qi's Es and blockchain. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): You know, the supplier is requested. A complete question is on esse. So basically, the supplier. We're going to, you guys and complete their questions. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): If it is already existing, they will simply pass on as already done. Once it enters the wise. It figures Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): events and validators come in and verify. And so it's another question. So validators will essentially validate the information. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and once the validator is, you know, and additionally, third parties can come in and enrich the data associated with the suppliers. So each one holds the piece of information that they have contributed, and a fire comes in and accesses that report out of view. They automatically see the image information because it opens up in panels based on Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): based on license subscription. So that's kind of the general model. So there are different kinds of question as here.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and from a Esp perspective. There was environment, social and governance practices it it. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): It essentially captures information on the space. It also requires to upload their reports or anything else that they want to upload. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): It also enables ratings from third-party companies like Ecuador, as Moody is done in Brad Street. in a rustle 2,000, and so on.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): The current framework is ready to support. Scope one and 2 reporting on scope one and 2 reporting is Then I spoke, 1, 2, and 3, reporting as a requested by CC. And EPA. Still in the works. But it is one position Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): now, a typical ui would look like this, you know, in Ti. So this is a. And it's I think it's real Google example. And this is a Dmv what is rating of Esg, so Eco-vis has a rated this company here from an environment labor practices. And you can also see ethical also. That is so. T. Why is it that information is part of the supplier Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): views. So there would be many other views if there is a subscription for Moody's that would be a panel that shows the Moody's ratings. If there is a subscription for D, and there will be a panel. That shows
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): my earlier point was that these ratings are excellent. What do you do with it? Right toi is is working on what you do with it right now. But a lot of third parties. The so my point here really is that third part is, a number of companies are saying, video and all, but they do not give you enough recommendations as to how they came up with that rating and how to improve that. I mean, it's, I think, that this industry is still in flux. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): People are trying to digest what Dsc. Means, and a lot of them are getting into this bandwagon, because that is a a lot of interest from governments, from markets and from my from revenue perspective. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): So what ts, the to do is it takes a number of questionnaires, right environment Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): from an environment perspective. We talked about goals, commitments. Right? So if you ask question is, collect information from suppliers such as, What are your goals? What are your commitments for this year? Running a commitment for the next, until you want to reach net 0 on car be carbon neutral one of your actual data. What offsets have you purchased, and which projects do these offices belong to
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): it captures other information on their manufacturing practices. whether they are you using renewable energy, or what portion of it comes? what are the Mac? How do they manage waste and raw materials? Are they recycling waste? Are they? optimally using raw materials? they doing sustainability as part of their you know. procurement? Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): How do they reduce the reuse or recycle waste waste matter, emission of it? It also captures information on social like, you know, what are your labor practices? Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): How are your relations with the community? How do you treat their employees? It captures things like child labour practices. you know, wages, various other information Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): statement of harness and focuses on Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): governance. You know, what are your policies now? Many of these? This is the general framework of the Us. Question is, and we are constantly improving that Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): in terms of making it more and more meaningful qualitatively and quantitatively, because, we both answers do not help. So there's a lot of effort inside you as to make them qualitative and
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): 25. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): No, we all I talked about scope 1, 2, and 3 reporting right. I borrowed this directly from the Thg Protocol because they are the ones who publish. How do you measure? Scope 1, 2, and 3, Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and obviously it is now embraced by the EPA and so many others. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Now, what is Co? One. Scope 2, and scope 3. That's direct emissions, scope. One
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): refers to all the emissions that a company is directly responsible for. So if we, if we take hypothetically let us take it. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Lenovo, all the direct innovations cost because of its own activities directly, and it and it has control over that Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): right they have boilers. They may have a you know, a molding machines, others. They have a direct control on these and the emissions that they have. So all that reporting is part of scope one. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): And it is easy to do scope. One is easy, because you know what your how, what the company is doing. It's activities, and it can measure and report on scope. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Scope 2 is also easy to report, because it's a direct emission. Typically, you know, a company utilizes energy and scope 2 measures. How much of energy is used, and where does it come from? What portion of it comes from? What do you call fossil fuels versus renewable sources? Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): That is what it is, and usually they can get a report from. Let's say you to say from my energy, Bill, can you give me a breakdown? So there are like easier ways of doing this. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and so scope one and 2 are very easy to do Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): when it comes to scope 3. That is where all the issues are. And I know, even in the special interest group of a hyper ledger we always discuss how to measure. Scope 3.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): The gig protocol is provided in our guidelines how to measure it. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): but obviously in practicality it becomes very difficult. It is all of more to your upstream and downstream partners, you know, partners from the supplier side, who provide you with raw materials are finished products that are loaded into trucks, and moved to your warehouses, to your factories downstream, where you manufacture products that are shipped on. You know you utilize distributors, logistics, operators, transporters Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): all of them come into play ultimately until the product reaches the customer. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): So the total measurement that a company like gonna say, A is you know, is emitting is the some of its scope, one scope to an all its partner. So that roll up.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): That's what this is. And the so it is a request, and that is the mandate in many countries for scope one scope 2 and scope 3 reports Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): as part of their annual reporting. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): So for more information on this, if you are interested, you can go to the G. Ig. Protocol. It gives you a lot of information on all these things. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): In fact, they say, How do you measure school 3? So they give you all in the upstream case you look at which is good, and services capital goods employ commuting upstream least as it. So they give you this Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): breakdown of one of our areas you had to look for. They also make sure that there is no overlap between scope. Once go through and go 3 to 4.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Now, I'm Steve, they say, for 3. And you're gonna look at it. And processing of solid products I use off for products, etc. All right. So price is investments, and that is in our description. There in in the gig protocol of what this meets, what the what do these categories mean? Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Obviously, I've been going through this, you know, by a but it's a lot of material. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and of course the world is full with all standards, bodies, you know. So the interesting thing is, there are so many standards, bodies, and institutions, and it all focused on Esg.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): so I was trying to get a handle on on. These are Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): so, the more the more ones that we are most prominent. But, like the climate action, so obviously, we all know the pad is that are right, and we know the EPA is very much focused on climate change, and we have European commissions. Many commissions. One of them is the circular economy, meaning like, How do you manage? Based? Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): there's open ups foundation. I put hyper ledger Foundation is also concerned about esse.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): But do you have the carbon registries. Yeah, Vera, with many different subgroups. All of them are focused. And there are many other organizations. If you go to to play, there's an Esg group. But Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): right? So there are many different bodies, and all of them are focused on. How do you measure? And how do your account? And what do you report. Now, climate Action reserve focuses on cap and trade. California essentially has a cap and trade program, and most of the projects registered in the climate action deserve the programs within California. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): The the gig protocol we talked about. It provides you the methods and mechanisms for measurement
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): of, you know, measurement and accounting of all the carbon emissions. How do you actually measure Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): the gold standard, and where our project registries? We talked about the voluntary carbon market, the offsets market where anybody can initiate a project. So the gold standard that is the name of the organization. And where are Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): they? Are organizations that actually can go and validate these projects, and then register it within their databases, and then determine how much offset should be issued against that project. And that's that's the whole model that they follow. So they are all registries in the voluntary carbon market. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): If you go into Vera, I just pulled up one registry, you can go and look at. So there are many registries, a verifiable carbon standard plastic waste. These are all categories, and each one of them have their own registries within. Vera. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): if you go to where I just look at one such thing like the verified carbon standard and pull up, you can pull up projects by categories, and it'll list out all the projects.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): And you can see what projects are there. Where do you want to invest or buy offsets from? Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): There is a lot of dispute on the Vera and all these registries, because how are they managing it? How are they monitoring it? How trustworthy it is! That is a lot of issues. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): but all of them are supposed to be standards, bodies, but that is no standardization of standards itself, because each one is not interoperable. Some of the employed. Api. Some of them you go and physically go in and log in. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): So that is one of the bigger issues Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): the did protocol Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): I'm talking about. I'm just doing a time check, are we on time? I mean, just say for that, yeah.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): okay. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): So the Gg protocol is widely used, and they have a number of tools in various categories. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): you know. They also established the reporting standards. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and they've been in there for a long time. It's not a body that came in overnight. They only have adopted themselves to the new requirements of environment and Esg. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): But they focus. They have separate initiatives on how to manage forest land and agriculture. Most of the gig is about, how do you manage for us and agriculture online? Because that's where you can sequester the most amount of carbon. A tree sequesters one metric ton, let's say a forest can. How much metric trans it can sequence of even, you know blue carbon mining blue carbon farming like mangroves. They sequester a lot, and a 10 times more than a standard
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): forest in terms of you know, carbon into the ground. So these guys established the standards for measurement and you can go in and see what tools they provide across industries across country, specific. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): etc. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Now, the role of blockchain. So no, not many projects use the blockchain effectively. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and the blockchain can really bring a lot of value in terms of consistency in the application of policies and regulations.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): It can bring environment management beyond Co 2. Most of the focus has been on Co 2 emissions, not on sulfur dioxide, not on methane, not on other gas pollutants that go into the atmosphere. So blockchain can actually bring a unification of across beyond Co. 2. Right? Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Then, of course, it can manage very effectively the double spend problem of credits and offsets. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): Then you have traceability of ownership and retirement of credits, who actually owns the credit offset, and taking credit for retiring, that because credits once the carbon is sequestered for that offset, you had to retire that offset, and that is where the issues come in, you know, if you know, because the offsets are still floating, even though the the offset is no longer valid Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): and proving voluntary in the, in the voluntary carbon market. How do you prove a project? is a real and it's benefits are real. And how do you get it? I you know one of the things that can be utilized effectively is the digital identity or the decentralized identity. If every project is given a decentralized identity. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): all the projects in the where our database, all the projects in carbon action result, then the did can be used to resolve that Project University, irrespective of where you are, which application is being used, and get all the details about that project, the all the verification of the board, the project, the digital signatures associated with the project. I try to talk to a couple of them. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): but they all are in a different world right now in terms of Api, and then, lastly, verifiable and trusted reporting. So a report provided by a company can be interpreted in different ways. Blockchain can secure the report at a point in time, and then have digital signatures, verifications, and validations associated with it. To prove that the report is really valid Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): is my last line. I'm stop talking
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): so t y as position to add value. So t ys, if you look at it, if we expand t wise beyond what it was here, then, what it needs is all the IoT gateways. So a number of IoT sensors all over the planet that are actually capturing data on inhibitions, water resources, air, quality, etc., etc. And that can be brought into a blockchain. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): It doesn't mean that, you know. It could be a different blockchain operating here, feeding in. Just to some of these. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): the carbon registries. We just talked about digital identity. It could be a good resolver for each one of these projects running across varied systems, applications and registries. It did and help essentially have a decentralized identity for these projects and bring them in. Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): That's a very good improvement over over what is happening now, you know, if you are, if you're told a mosque project, you won't even know what identity it has got! How many projects are under mosquito Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): a did could probably help Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): offset and credit markets. So if an exchange Api could help go into the different offset markets and exchanges. So you have a unified experience of buying offsets, selling offsets, trading credits.
Mohan Venkataraman (CTO, Chainyard, Cary, NC, USA): etc. That is kind of like. So if
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