Eco-technology platform xels positions itself as the future of decentralized climate action disclosure for companies seeking transparency in their carbon emission reporting. Xels enables companies to produce and maintain nft-based records of carbon offset activities that are certified, traceable and accurate while being cost-effective for the corporate world.
More and more companies see managing their carbon footprint as a critical part of their corporate social responsibility (CSR), driving a carbon offset market estimated to be worth between $40 billion and $120 billion. In addition, the lack of transparency in climate change and carbon emission reporting causes customers to distrust companies’ promises, have difficulty following the supply chain and distrust investors’ commitments.
Xels is repositioning the carbon credit focused sector of the NFT space to focus on transparent ESG reporting with tokenization as an added feature. Xels believes this will solve the acute problem of tokenization and exchange of carbon credits in space.
Speaking of the Xels platform, Xels spokesperson commented:
“Many of the world’s biggest companies are pledging to take world-changing action on climate change. However, the question remains whether these actions are verifiable and whether the bold statements are misleading stakeholders such as investors. When it comes to climate change, we are missing the bridge that connects consumers, businesses and investors in a functioning market. Blockchain technology is the missing link that brings consumers, businesses and investors together on climate change as it allows us to account for carbon emissions and convey verifiable climate action.”
One Step In The Right Direction
xels recognizes that the use of NFTs poses several problems when it comes to the exchange of carbon credits; lack of transparency regarding the printing of pension loans as NFTs. This issue has also been highlighted by the top three carbon credit standard providers.
Xels takes a holistic approach with its weaving solution It has the potential to improve existing mechanisms and new connections among the many distributed parties around standards and data sharing. The platform not only uses the inherent transparency of decentralized ledger technology, but combines it with an effective reporting system that leverages satellite tracking and AI-driven analysis to validate corporate ESG claims. As a result, this increases companies’ ability to defend these claims against their stakeholders, including customers and other companies in the value chain.
Companies can also upload macroscopic information such as photos of carbon offset projects that will be verified by the Xels platform, which serves to create an accessible input system for companies without the world’s largest resources. Additionally, Xels’ focus on reporting sets it apart from other NFT-based carbon credit platforms. Xels allows companies to store all reporting cycles; this means the platform can ensure that climate action data is up to date and accurate. This further increases the credibility of claims made through the platform.
Finally, while Xels initially plans to go public on the Ethereum blockchain, the Xels team plans to quickly move to a low-energy blockchain to address energy consumption gigs in the near future.
Launched in 2018, xels It is an eco-technology platform that offers a bespoke enterprise blockchain combined with a carbon credit-backed digital asset for companies looking for a transparent and secure way to offset their negative environmental impact. The platform uses the latest in satellite and artificial intelligence technology to measure the actual amount of carbon sequestered by ecological projects, including protected ecosystems and reforestation campaigns.
Xels leverages the experience of a team of experts to provide integrated end-to-end solutions to combat climate change, led by Takeshi Nojima, an experienced start-up founder with senior experience in software, systems and game development.
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