Chainlink + FCLA: Powering Geospatial Carbon Offsets
Flyingcarpet is working with Chainlink to provide decentralized, cryptographically-verifiable carbon offsets generated via absorption of CO2 from reforestation.
Most recently, FCLA has embarked on the creation of Geospatial Prediction Markets, based on Gnosis’ new Mercury PM contracts. Via a partnership with a fast-growing French reforestation company called EcoTree, this innovate prediction market enables users to take positions related to reforestation and carbon offsets. You can learn more about the project here.
Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. Chainlink is consistently selected as one of the top blockchain technologies by leading independent research firms such as Gartner. It is well known for providing highly secure and reliable oracles to large enterprises (Google, Oracle and SWIFT) and leading smart contract development teams.
Instead of relying on a single, centralized oracle, via Chainlink insights can be piped on-chain via a larger set of node operators. Thus, enabling distributed applications to gain access to off-chain data in a decentralized and trustworthy manner.
Due to the disintermediated nature of FCLA’s carbon offset analytics, ensuring secure and distributed sourcing of off-chain data is central to maintaining the integrity of the platform. Since, for example, the FCLA Prediction Market dashboard enables the creation of potentially large economic positions related to carbon offsets, users must have confidence that off-chain data (used to resolved markets) is sourced in a highly reliable and consistent way. Chainlink provides this confidence.
“The integration of Chainlink has enabled off-chain geospatial insights to flow into FCLA in a distributed manner, appropriate to the decentralized nature of our analytics and carbon offset offerings” said Flyingcarpet Founder, Julien Bouteloup. “I am eager to continue to build out FCLA’s offerings on top of Chainlink data oracle system.”
Towards a greener, data-driven future
At FLCA, we are on a mission to help some of the world’s most ambitious projects to achieve their vision while reaping the benefits that distributed marketplaces can bring in terms of data verifiability and integrity. We are proud to be working with EcoTree on this EU funded project, and we look forward to collaborating and learning with them how blockchain applications can play their part in helping solve the largest puzzle in human history.
Note: chainlinkecosystem.com does not claim any ownership of this content, all credit to FCLA, view official announcement.