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Chia announces MoU with Costa Rica to bolster climate initiatives

Chia announces MoU with Costa Rica to bolster climate initiatives
Chia announces MoU with Costa Rica to bolster climate initiatives

Chia Network Inc., a next-gen smart transaction and open-source blockchain platform has reportedly announced an MoU (Memorandum of Understanding) with the Government of Costa Rica. This Memorandum of Understanding outlines the technical services of Chia in support of the National Climate Change Metrics System (SINAMECC) of Costa Rica, to leverage the sustainable, inclusive, and secure blockchain technology of Chia for fixed data storage.

Costa Rica will initiate the development of an open-source software platform that will be distributed to other nations with no costs to enhance the management of its climate inventory. In addition, the platform will operate national registries to manage climate registry, carbon inventory, and record bilateral adjustments with trades happening to shift credits among nations.

The MoU outlines the support of Chia towards the leadership of Costa Rica on a deep commitment to transparency.

Andrea Meza Murillo, the Environment and Energy Minister of Costa Rica stated that the Government chose Chia as an open-source collaborator owing to its open-source and software expertise as well as the platform’s commitment to sustainable, secure, and comprehensive blockchain technology.

Murillo added that this is a crucial step towards transparent, and robust cooperation on climate action emphasizing environmental integrity.

Gene Hoffman, the Chief Operating Officer and President of Chia stated that the company is proud to collaborate with the Government of Costa Rica which is a well-known climate action leader and the one who pushed for the Paris Agreement. Hoffman added that the partnership is another crucial link to an open-source blockchain as a tool for global betterment.

Chia is committed to being the link for enabling the management of climate inventory and is backing its commitment at COP26. The co-stewardship of the company on the project will allow a direct link to a Climate Warehouse and eventual operationalization of the project in Costa Rica and elsewhere.

Source credits:

https://www.businesswire.com/news/home/20211111005809/en/Costa-Rica-and-Chia-Announce-Partnership-to-Support-Climate-and-Government-Initiatives

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Sunil Jha

Sunil Jha has been a part of the content industry for close to two years. Having previously worked as a voice over artist and sportswriter, he now focuses on writing articles for newsorigins.com, across a slew of topics, ranging from technology to trade and finance. With a business-oriented educational background, Sunil brings forth the expertise of deep-dive research and a strategic approach in his write ups.