ESG-driven blockchain wants on-chain “nutrition labels” for all raw materials that will be exchanged on November 9, 2021

The Watr Foundation recently started a project in collaboration with the blockchain platform Algorand to provide ESG scoring for various raw materials with a special focus on climate change. While the project has a clear focus on the environment, the platform will also include labeling everything from the way a company treats its employees to the number of people involved in its ecosystem.

Watr Foundation board chairwoman Maryam Ayati said in a statement:

“We believe that this next iteration of resource models should be shaped into co-owner profit models. It was a privilege and a pleasure to work with the pioneers of decentralized technology, blockchain, industrial and environmental products to bring this blockchain ecosystem to life. “

Sean Ford, CEO of Algorand, said: “Watr’s vision is to enable a commodities market based on transparency, environmental stewardship and the active work of all the right participants, with Algorand running as a network of carbon negatives”.

In September, Algorand released a protocol upgrade to improve its smart contracts and announced a $ 300 million fund for DeFi projects.