Driven by a unique combination of collaboration and expertise, Blockchain for Energy or B4E, a not-for-profit association of the top energy companies, has launched B4ECarbon, a revolutionary tech solution to manage emissions in the industry. This disruptive solution has been developed in alliance with Enovate AI and Tolam Earth to significantly change the approach to track, report, and reduce emissions within the energy sector.
Leveraging AI, Blockchain, and The Internet of Things, B4ECarbon happens to be the first-ever complete emissions management solution specifically for the energy industry. With its decentralized design approach, the tech answers the long-due need for emissions data that is precise, transparent, and also verifiable. The consortium’s dMRV (digital reporting, measurement, and verification) technology helps express emissions-related data in token format. It is an innovative approach that ensures unparalleled accuracy in emissions data, making it easier to measure and compare. The dMRV, built on Herdera Hashgraph’s advanced distributed ledger technology, provides an efficient and secure infrastructure that is also decentralized for transparent data management. This invariably eradicates any risk of fraud or deception in claiming emissions.
Committed to furthering and preserving data interoperability and its use across forums, B4E adheres to the framework and guidelines outlined by the Interwork Alliance (IWA), which eliminate the increase of emissions data silos common in the energy industry. This alignment highlights B4E’s commitment to a cohesive, collaborative approach to managing emissions, one that facilitates a smoother exchange of data across the industry’s stakeholders.
Further enhancing the solution’s efficiency is its integration with Enovate AI’s cutting-edge expertise in artificial intelligence and machine learning, which enables intelligent forecasting, reporting, and data modeling. With this integration, users can access deeper predictive analytics and insights and make informed decisions while formulating strategies for reducing emissions and effective operations. Using custom-trained models, Enovate AI ensures users’ data security. Another fundamental characteristic of the B4ECarbon solution is its integration with Tolam Earth, which enables the monetization of environmental assets by providing an active marketplace to redeem various environment-related claims. It also boosts sustainable practices with appropriate incentives for B4ECarbon clients.
B4ECarbon is designed to serve multiple segments of the energy industry, ranging from carbon capture and hydrogen production to traditional energy generation and storage (CCS). This wide range reflects B4E’s commitment to ensuring sustainable environmental practices through the energy spectrum. Available on the B4E Network and Platform, B4ECarbon will be the industry’s entry into a decentralized ledger technology with a decentralized identity. Current B4E members and collaborators include energy bigwigs like Chesapeake Energy, Chevron, ExxonMobil, Saudi Aramco, and Hedera.
Rebecca Hofmann, President of Blockchain for Energy, says that this solution makes way for responsible energy production and consumption that aligns with global decarbonization goals, “We’re not just tracking emissions; we’re enabling the industry to make impactful decisions based on verified data and validated environmental claims. The launch of B4ECarbon marks a transformative moment for the energy sector, combining the power of blockchain, AI, and IoT to set new benchmarks in emissions management.”
B4E’s transformational approach seeks to reinvent the industry’s standard way of working, and with the B4ECarbon solution, it is closer than ever to realizing the full scope of AIoT applications toward building a more environmentally sustainable but also profitable global energy industry.