MetaHyper Co., Ltd., which has successfully carried out large-scale eco-friendly projects such as purchasing 11,000 hectares (approximately 33 million pyeong) of the Peruvian Amazon rainforest to preserve the tropical forest and promote carbon credit projects, is now launching a new project to continuously foster an ESG (Environmental, Social, and Governance) environment.
Global interest in carbon credits is heating up. At the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change held in 2021, it was decided to utilize carbon credits to achieve the '2030 Nationally Determined Contributions (NDC)' for greenhouse gas reduction, enabling the international transfer of carbon credits. This is regarded as an opportunity not only to protect the environment but also to create new economic value.
MetaHyper Co., Ltd. plans to register the 11,000-hectare Amazon forest area secured in Peru as a REDD+ program project site and measure the amount of carbon absorption and storage reduced in this area to secure carbon credits equivalent to the reduced amount. The secured carbon credits will be traded on the EU carbon credit exchange. They are currently attempting to combine the economic value created in this way with blockchain technology, cooperating with the global public network blockchain platform, Everscale, for this purpose.
Everscale is a group of experts with accumulated experience in financial applications and has established itself as one of the world's leading blockchain networks based on the innovative technical capabilities of developers who have been active at the forefront of blockchain for years.
Everscale utilizes a 5th generation Layer-1 PoS blockchain, which is cutting-edge technology in the blockchain industry, and secures almost infinite scalability through a sharding mechanism inside the workchain where the entire node is divided into threads. This boasts dramatically faster speed and security compared to other networks and is evaluated as an ideal network for companies aiming to launch high-load applications and large-scale projects.
Yin Geun, CEO of MetaHyper Co., Ltd., stated, “The essential goal of this project is to actively respond to the global climate crisis, and for this, we have devoted about 15 years to developing original carbon capture and storage technologies.” He added, “If the economic value such as carbon credits obtained in the future is combined with blockchain technology, it will create greater synergy and play a significant role in fostering an ESG environment.”
MetaHyper Co., Ltd. and Everscale plan to actively establish concrete measures and transparent implementation programs to solve climate and environmental issues through blockchain technology.
Both companies see that by technically partnering with Everscale, which realizes the fast speed of inter-chain mutual nodes?considered essential for activating blockchain?and MetaHyper’s significance in fostering an ESG environment, they will create a synergy effect of a new dimension in ESG environment creation. Furthermore, it is expected to serve as an opportunity for co-growth as business partners through the establishment of stable business tools. The two companies plan to sign a mutual business agreement soon.
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