No need for blockchain to tokenise carbon credits, say some market participants after registries halt process

CARBON registries have hit the brakes on an emerging movement to tokenise carbon credits, citing price volatility and reputational risks. Industry players are now debating how, if at all, the carbon market should adopt blockchain technology.

Proponents argue that creating a carbon registry on the blockchain allows for greater transparency and immutability. But others feel the issue of transparency is better fixed by strengthening existing practices.

Some market observers told The Business Times that putting credits on the blockchain is a white-elephant move at best. At worst, doing so could exacerbate problems with quality in voluntary carbon markets.