The Arx Veritas wealth tokenization platform and the Blubird tokenization infrastructure firm are using blockchain technology to avoid almost 400 million tons of CO₂ emissions, marking a record of the digital asset token industry.
The two companies have played assets of value of emissions worth $ 32 billion in the Redbelly Network of Blubird, with the aim of establishing a “new standard” for financing and monitoring of sustainability efforts.
Tokenized assets include oil wells and limited carbon mines, which represent more than 394 million tons of preventive emissions of CO₂, marking the greatest tokenization effort aligned with the environmental, social and governance framework (ESG).
The 394 million tons of preventive emissions of CO₂ are attributed to two sources: the extraction, processing, shipping and burning of coal that would have been used, together with the pollutants avoided by limiting the abandoned oil wells.
Prevented emissions are the equivalent of almost 395 million round trip flights from New York to London, or 986 billion miles driven by an average passenger car, or 105 times the annual emissions of Iceland.
Bluebird is seeing “a strong institutional demand for the tokenization of assets aligned by ESG, with more than half a billion transactions in negotiation and an important institutional purchase about to end,” the firm wrote in a Thursday announcement shared with Cointelegraph.
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The tokenization of the real world asset (RWA) refers to financial assets and other tangible assets coined in the immutable blockchain main book, introducing benefits such as shared property, the increase in accessibility of investors and liquidity 24/7.
The epochs are real world projects, such as the dismantling of coal mines or oil wells that qualified the release of CO₂ and greenhouse gases.
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Billions of dollars in assets will move in the chain in the middle of an institutional change: Bluebird CEO
The growing institutional demand for tokenized assets can bring billions to the block chain in the coming years, said Corey Billington, co -founder and CEO of Blubird, and added:
“In the coming years, we will see billions of dollars in assets move in the chain as institutions pursue a new global liquidity, efficiency and access.
“Blubird already has more than $ 18 billion in active agreements aligned, and we are just beginning,” said Billington, added that the change towards tokenization is “inevitable.”
Bluebird aims to token additional assets worth $ 18 billion by 2026, to “reinforce” its position in the RWA industry.
“We are seeing approximately 230 million tons of CO₂ impeded of emissions equivalent to that additional pipe of $ 18 billion,” said the CEO, added that this also covers assets of assets such as basic products, financial instruments and infrastructure assets.
Combined with its existing $ 32 billion in tokenized times, the estimated total environmental impact will be equivalent to 600 million tons of CO₂ preventive emissions, according to Blubird estimates.
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