Chia is getting more and more attention [PRESS REVIEW]

Portal Carbon Pulse, as one of the first, reported that the World Bank (along with the Singaporean government and the IETA association) will release a metadata system in December to ensure transparency in compensatory credit trading. The collection of carbon credit data will be based on the Chia blockchain.

This same news later appeared in Financial Times. Portals mention that the registry of carbon offsets called Climate Action Data Trust was supposed to be released long ago - however, in-depth debates and extended testing phases caused some delays. FT looks optimistically at Chia technology, as the decentralized network will guarantee the quality of carbon credits and connect compensatory markets worldwide, which offers a chance for sector development. It is worth noting that Chia is now being used in media as an argument against skeptics who disqualify blockchains due to their energy consumption. Indeed, Chia's energy usage is much lower compared to other blockchains.

Media also highlight the growing role of Singaporean monetary authorities, portraying themselves as pioneers of blockchain technology, and positioning their country as a center for green finance and CO2 offsetting. This statement is not far from the truth. The seventh edition of the FinTech Festival started in Singapore on October 31st, as reported by Yahoo Finance, featuring appearances by over 850 experts. Among the keynote speakers was Bram Cohen, known as the CEO of Chia Network.

POLITICO and Ledger Insights also reported that the World Bank provided official support for a project built on the blockchain. Ben Schreckinger from POLITICO pointed out that environmentalists are no longer considering all blockchains as energy-hungry evils and are starting to see the potential of this new technology in combating greenhouse gas emissions. Both POLITICO and Ledger Insights highlighted that blockchain can finally help combat fraud in the carbon credit market - in the past, it was not uncommon for dishonest entities to secure double financing for the same purpose.

Thanks to media coverage, more and more people are learning about Chia Network and the benefits of utilizing blockchain technology for monitoring, reporting, and verifying transactions in offset markets.