In a message on Keybase Chia Network has confirmed that the Minimum Viable Product for the World Bank Climate warehouse is nearing release. This will be the first version of the technology layer that will underpin the global carbon credit market detailed in Article 6 of the Paris Agreement.
This is right on track for what we were expecting based on public communications from Chia Network and the World Bank. It is unclear at this point how many countries and other entities will be deploying immediately but Earle Lowe of Chia Network described it as a likely rolling release, which makes sense.
This is a stark reminder of the work being done by Chia Network not aligning with the normal modus operandi of other cryptocurrency layer 1 projects. The Chia community has expectations about things like NFTs and launches on other exchanges but the reality is that Chia remains committed to the higher level goals of establishing and developing enterprise partnerships. This is, in my view, a good thing if they can properly execute. As much as I would personally love to see them “all hands on deck” on their NFT standards so Space Marmots can launch, a clear focus on an area where other blockchain projects lack is probably going to be good for the ecosystem in general.
When my mom read about the Climate Warehouse project (hi Mom!) it blew her away as a real world use case for a blockchain, which is not something that the public sees very often. Anything handled inside a country is almost certainly going to benefit from trust of central authorities (although not always as we are seeing in Canada right now) but when you start crossing borders there is no real trust, just validation.