ICC  or the International Chamber of Commerce is collaborating with Singapore government backed blockchain firm to help reduce carbon emissions in the aviation industry. The partnership with Perlin as well as blockchain based carbon offset exchange AirCarbon; aims at providing at least $40 million for climate projects in commercial aviation. 
<h2>ICC: Inspiring Action</h2>
Meanwhile, the three partners launched the project on the sidelines of the <a href="https://www.cryptoknowmics.com/crypto/un-accuses-north-korea-of-money-laundering-through-blockchain/" target="_blank" rel="noopener">UN</a> conference on Climate Change that took place in Madrid. The Secretary-General of ICC, John W.H Denton stated that: 
<blockquote>“This partnership will harness the power of technology to accelerate innovation; and inspire real, concrete action to keep our air carbon-free.”</blockquote>
Moreover, the ICC is seeking to spread the adoption of AirCarbon’s carbon credits solution, which positions itself as a blockchain trading network for CORSIA - the present carbon offset scheme with <a href="https://en.wikipedia.org/wiki/International_Civil_Aviation_Organization">International Civil Aviation Authority</a>.  191 nations joined as signatories to bring into existence the CORSIA  back in 2016. Therefore creating a potential market for AirCarbon. 
<h2>Mixed Signals on Blockchain Potential</h2>
Nevertheless, the International Chamber of Commerce dived into blockchain innovation so as to formally pledge their technology to the 45 million members. Prior to this partnership, the ICC cooperated with Perlin towards an e-registry system that they anticipate to ship this year. Furthermore in October, ICC and the Singapore Shipping Association kicked off work on the International E-Registry of the ship's system -; which is based on Perlin’s Wavelet.

Well, the collaboration comes at a time when key global bodies view blockchain technology with increasing skepticism. This week, for instance, the World Trade Organization published a report dubbed reality check for blockchain innovation in international trade. The deputy director of ICC finance development hub David Bischof said about the report as: 
<blockquote>“an indispensable tool for the entire trade ecosystem, but foremost clearly shows that standardisation in trade and trade finance is a key challenge to ensure the numerous blockchain-based platforms are of use for businesses that trade.”</blockquote>

ICC and Blockchain Startup Agree on $40B Funding for Climate Projects

ICC or the International Chamber of Commerce is collaborating with Singapore government backed blockchain firm to help reduce carbon emissions in aviation.

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience.

ICC and Blockchain Startup Agree on $40B Funding for Climate Projects

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