The UAE-based Technology Innovation Institute (TII) has launched a blockchain-powered carbon tracking and trading platform. TII is the applied research pillar of ATRC, and it focuses on advanced research in various fields, connecting global talent, universities, and industry partners.

With 10 dedicated research centres, TII contributes to Abu Dhabi and the UAE's status as a global innovation hub. Developed by TII’s Cryptography Research Center (CRC), the platform aligns with the UAE Vision 2021 for a sustainable environment and net-zero emissions. Moreover, this initiative supports COP28's goal of a low-carbon, high-growth, sustainable economic model.

The lightweight blockchain implementation by CRC aims to improve transparency and verification of carbon trading activities at minimal environmental and computational costs. Unlike existing projects, TII's platform allows public verification of tracking and trading without substantial resource consumption. In the official press release, representatives from the Technology Innovation Institute brought up the platform's contribution to the UAE's technology leadership and climate action agenda.

A close look at this blockchain-enabled PoC Distinctively, TII's platform facilitates global carbon trading preparation and accurately registers emissions from any organisation globally, establishing a transparent chain of trust for audited transactions. The platform issues tokens representing removed carbon dioxide, encouraging investments in green projects like carbon capture and forestation. While other organisations develop digital carbon trading platforms, TII's platform was designed to stand out as a blockchain-enabled Proof of Concept.

The platform allows the creation, storage, and transparent trading of tokens representing removed carbon dioxide, incentivising green investments. The global carbon credit market, established in COP21 (2015), aims for enhanced regulation, with recommendations set for COP28 approval. TII's blockchain employs PKI and advanced consensus algorithms, ensuring secure and eco-friendly transactions.

Officials from TII’s Cryptography Research Center highlighted the platform's design and its ability to offer secure and confidential carbon tracking and trading. TII's blockchain combines PKI permissioning with a high-security cryptographic stack, featuring a consensus algorithm and a smart contract platform. Designed for easy and affordable transactions, the permission-based blockchain reinforces TII's commitment to supporting global innovation.

Other noteworthy developments from TII In September 2023, the Technology Innovation Institute has launched Falcon 180B, which is an advanced iteration of its flagship language model. The product was launched to support the development of generative artificial intelligence capabilities in the region. Falcon 180B, which will be offered as an open access model for research and commercial purposes, aims to improve the UAE's proficiency in AI, according to TII representatives cited by thenationalnews.com.

The launch follows Falcon 40B, which is an open-source AI model launched earlier in 2023. Falcon 40B was one of the first open-source models for both researchers and commercial users. .