IOTA has partnered with ClimateCHECK to implement its protocol for climate sustainability solutions. The two entities are launching a pilot program for the flagship product, DigitalMRV.
The IOTA Foundation announced on Dec. 8 that it had formed a strategic partnership with climate-focused tech company ClimateCHECK. The two entities will work together to create solutions to combat climate change and foster sustainability.
The collaboration has already resulted in the creation of a solution called DigitalMRV, which improves data collection and use. MRV, which stands for Measurement, Reporting, and Verification, is a process used in sustainability and climate change.
According to the announcement, the solution will make the process more efficient, and the data more usable and cohesive.
The collaboration will begin with a 14-month pilot of DigitalMRV at a landfill gas capture and utilization site in Chile. The pilot will demonstrate that the digitization of MRV on IOTA can establish a comprehensive betterment of sustainable research.
The IOTA Foundation believes that this will prove the efficacy of DLTs for climate action and sustainable practices.
IOTA states that the real-time accountability and transparency of data can provide better insight into the processing of carbon credits. The project is one step in IOTA’s priority to build scalable sustainability solutions and a “sustainable internet of things.”
The team plans to build on this project and introduce more solutions in the coming year.
A Middle-of-the-Road Year for IOTA
Once a top-10 cryptocurrency by market cap, IOTA, has since fallen considerably in price and overall interest. The project has had a middling 2020, with some notable hiccups and a few important milestones.
However, following that incident, IOTA has made progress towards a full launch, with the Chrysalis 1.5 upgrade in August.
The upgrade brought performance improvements and is a critical milestone before the arrival of IOTA 2.0. Following the release of the first phase of Chrysalis, IOTA released an enterprise-level smart contract platform.