This partnership will focus on the way REM's are traced as well as how emission reduction is quantified, qualified and monetised for those involved in onshoring rare earth mineral production.
ClimateChain, the newest Layer Zero chain, has developed a novel Project that will provide a significant advantage to individuals engaged in onshoring REM production. By leveraging the power of blockchain technology with zero knowledge proofs built into the architecture, ClimateChain enables the tracking and tracing of pollution reduction in a highly efficient, private, and innovative manner.
"With our architecture you don't have to expose your proprietary business practices to the world. We provide the proof that the event happened and you provide the permission to only those that need to see the details. We can then publish the information on any trading platform or communication tool of your choosing," said Amanda Martinez, Founder of ClimateChain.
"We have known Amanda and her team for years and couldn't be more excited to partner with them on this project. With their innovative capabilities and proprietary AI, ClimateChain stands out as the most efficient blockchain in the world for tackling pollution reduction. The platform's unique approach allows for the capture and communication of all emissions savings, even for projects that previously found it cost-prohibitive and complex," said Steven Lupien, director of the UofW Center for Blockchain and Digital Innovation (CBDI) and a global expert in digital assets.
"REM's are used in everything from your phone, to your electric vehicle, to weapons systems, it would behove us to hasten the movement to onshore and secure these supply chains by capitalising on the credit markets associated with the reduction in transportation. At the same time helping US EV manufacturers capture substantial Federal incentives that come from onshoring inputs," said Martinez.
"This ground-breaking project combined with the recent unprecedented REM finds in Wyoming, will undoubtedly have a lasting impact on the onshoring of supply chains and the efforts towards achieving net-zero commitments by 2030. We are creating a direct monetization method to incentivize the good behaviour we want," said Lupien.
"There is no better partner for the ClimateChain sponsored "Project Northstar" than the UofW. Between the cutting-edge innovation coming out of CBDI and the expertise in energy and minerals from the School of Energy Resources, it is a huge win for all of us," said Martinez.
