Hyundai and Kia Use Blockchain to Monitor CO2 Emissions

• Hyundai and Kia launched an AI blockchain-based system to track and reduce carbon emissions from their supply chains.
• The system uses the Hedera network to record carbon emissions data in a secure and transparent way.

Hyundai Motor Company and Kia Corporation announced the launch of an AI blockchain-based system to monitor carbon emissions. The system, called Supplier CO2 Emission Monitoring System (SCEMS), aims to help the two automakers track and reduce emissions from their supply chains.

SCEMS uses blockchain technology to record carbon emissions data in a secure and transparent way. This data is then used to create reports that show the carbon footprint of each supplier. Hyundai and Kia can use this information to identify areas where they can improve their sustainability practices.

The SCEMS system uses the Hedera network. It is a public blockchain that is known for its high performance and energy efficiency. This makes it a good fit for a system that needs to process large amounts of data quickly and securely.

The implementation of blockchain and AI technology to manage carbon emissions is a significant development in the fight against climate change. This technology can help businesses to track and reduce their emissions more effectively, and it can also help to create a more transparent and accountable supply chain.

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LAB51 on Blockchain Carbon Emission Monitoring

Hyundai and Kia are not the only companies that are using blockchain to address climate change. A number of other businesses, including Nestlé, Walmart, and Unilever, are also using blockchain to track their emissions. As this technology becomes more widespread, it is likely to play a major role in helping businesses to reduce their environmental impact.

Blockchain technology has a number of potential benefits for reducing carbon emissions. Here are a few examples:

• Transparency: Utilizing blockchain technology can establish unambiguous and unalterable documentation of carbon emissions. This approach enables companies to monitor their emissions more precisely and recognize avenues for enhancing their environmental impact.
• Accountability: The implementation of blockchain technology can establish a supply chain that is more transparent and accountable. This can aid in preventing businesses from procuring products from suppliers that have high carbon emissions.
• Efficiency: Automating the tracking and reporting of carbon emissions through blockchain technology can be a cost and time-saving solution for businesses.
• Innovation: There are innovative ways to decrease carbon emissions using blockchain technology. One such way is creating a carbon trading market with the help of blockchain or monitoring the environmental impact of individual products through it.

Blockchain has the potential to play a major role in helping businesses to reduce their carbon emissions. As this technology becomes more widespread, it is likely to become an increasingly important tool for businesses that are committed to sustainability.