The International Chamber of Commerce (ICC) has partnered with the Singaporean government-backed blickchain startup to reduce carbon emissions from commercial aviation.
In a press release on 10 December, the ICC stated that its partnership with Perlin and the AirCarbon blockbuster carbon offset exchange would provide $40 billion for climate projects in the aerospace industry.
Three partners launched the programme in the margins of the United Nations Climate Change Conference (COP 25) in Madrid.
The ICC will now seek to promote the adoption of an AirCarbon carbon credit solution that operates as a blockchain-based trading network for CORSIA, the existing carbon offset system of the International Civil Aviation Authority.
CORSIA was established in 2016, attracting 191 countries as signatories and thus potential markets for AirCarbon.
ICC previously worked with Perlin on an e-registration system for ships this year. In October, the Singapore Shipping Association and ICC started working on an international E-Registry of Ships system based on Perlin's Wavelet.
At the same time, blockchain technology is increasingly perceived with scepticism by the world's largest institutions. This week the World Trade Organisation published what it called a 'reality check' for blockchain networks in international trade.
