Zimbabwe Unveils World's First National Blockchain Carbon Credit Registry
Zimbabwe has unveiled a blockchain-based carbon credit registry, a world-first for a national system in Africa, to boost transparency, combat fraud, and attract global investment. The innovative platform, developed by Dubai-based A6 Labs, is set to enhance the legitimacy and environmental impact of Zimbabwe's carbon credits in the eyes of international stakeholders.
The Zimbabwe Carbon Markets Authority (ZCMA) will oversee the licensing and regulation of carbon credit projects in Africa, ensuring strict eligibility requirements are met through a formal digital registration process. The blockchain registry will create an immutable, fully traceable record of issuance, trading, and retirement, bolstering confidence in the African carbon credit market.
Zimbabwe's move aligns with its ambition to become a leader in Africa's green economy. In 2023, it ranked third among African nations in carbon credit generation, responsible for around 12.5% of the continent's output. By deploying this advanced technology, Zimbabwe seeks to rebuild investor trust and attract new capital.
The blockchain-powered carbon registry is expected to provide international stakeholders with greater assurance in the legitimacy and environmental impact of Zimbabwe's carbon credits. As one of several African nations intensifying efforts in the growing carbon credit industry, Zimbabwe positions itself as a forward-thinking player in the global green economy.
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