Mizuho Bank partners with Fujitsu to simplify carbon credit issuance using blockchain
2024-09-18 17:59:35
Mizuho bank fujitsu heavy industry company ihi reach cooperationdesk3cryptocurrencydesktopCrypto News
Mizuho Bank, Fujitsu and heavy industry company IHI have teamed up to streamline the process of issuing J-Credits in Japan using blockchain technology. The issuance of carbon credits requires government certification of greenhouse gas emissions reductions, which is complex and time-consuming, and the issuer may face the risk of not finding a buyer. Mizuho Bank will acquire J-Credits as a "preferred buyer" and resell it to customers. The bank is also a market maker for J-Credits on the Tokyo Stock Exchange. The partnership is expected to start supporting solar power generation in the first half of 2025. Fujitsu's blockchain solution will be used to monitor, report and validate carbon reduction data to ensure the credibility of the data.
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