How Dovu and Tymlez are working to reduce carbon emissions in blockchain technology
The blockchain technology market is seeing extremely rapid growth and is currently valued at $4.7 billion by 2023, according to Emeritus. This number is predicted to more than triple that by 2027. But with this growth, there is a sustainability concern with blockchain. The amount of energy use that goes into manufacturing and mining has become a priority for many in the industry. Because the blockchain’s growth is accelerating very quickly, it is only expected that companies will cooperate in an effort not to contribute to this growing sustainability problem.
In what ways can integrative partnerships reduce carbon emissions?
This case is taken up in the latest episode of “Gossip about gossip”. Host Zenobia Godschalk interviewed the CTOs of Dovu and Tymlez respectively. The former’s CTO, Matt Smithies, and the latter’s, Dan Voyce, have teamed up by combining their platforms, allowing Tymlez’s customers to purchase fully verified carbon credits.
The two and Godschalk also discussed…
- How the integration of Dovu and Tymlez will work to reduce carbon emissions
- The risks posed by carbon emissions in the blockchain technology landscape and their solution
- How the partnership is set to improve many things, including overall sustainability
“We have a DNRV solution – it really allows for accurate reporting of carbon intensity and we’re using it for a number of solutions at the moment, such as a guarantee of origin, so tracking assets and their carbon intensity, and carbon intensity that goes into creating those assets, and really just use that to create audit-ready reports on carbon emissions. So that’s something we’ve been working on for quite a while now. We’re ramping up production on a lot of things, so this integration is very timely for us,” Voyce says.
Smithies talked about the long-term benefits of carbon credits and explained that with more growth, his company will have a clear solution as long as there is interest.
“Our general strategy is to find the demand that matches the supply, because we have the potential to hit hundreds of thousands, if not millions, of tons of carbon input, but obviously one of the biggest risks with supply, you can’t bring in hundreds of thousands and tons carbon and not have any demand on the other side, because then that’s the big risk. So we try to be very strategic,” says Smithies.
Matt Smithies is the CTO of Dovu. He has been in that role since 2021. He has previously held roles in the company as a senior software developer and technical consultant.
Dan Voyce is the CTO of Tymlez. He has over two decades of experience in start-ups, IoT and solution-oriented technology.
