Datarella To Work On Blockchain Study Commissioned By German Federal Environmental Agency (Umweltbundesamt)

Yukitaka Nezu

13 October 2020

Datarella, together with CapGemini and Frankfurt School Blockchain Center, successfully applied for a feasibility study funded by the German Federal Environmental Agency (Umweltbundesamt) to explore the benefits of Blockchain technology for an emission trading system based on smart contracts.

During this study, we will work on a concept for an emissions trading register based on DLT. We will make recommendations to the Federal Environmental Agency with regards to the requirements to a DLT trading platform such as usability, scalability, performance, interoperability, security and sustainability.

Ongoing climate change is one of the major global challenges we face today. As a result, a cross-border European emission trading system (EU-ETS) is one of the EU’s most relevant tools against global warming. So far, its success is threatened by fraud and lack of transparency. Stakeholders acting in this system also complain about the absence of incentives to actually reduce emissions. With this study we will prove that by the use of Blockchain technology most of these issues will be solved thanks to the decentralized and transparent characteristics of a DLT system.

We are very much looking forward to working on this study with our partners CapGemini and FSBC in close cooperation with the German Federal Environmental Agency. We will of course keep you updated on any results we achieve.