AntChain, the flagship technology brand of Ant Group, today announced the launch of Carbon Matrix, a software-as-a-service (SaaS) product to help businesses manage their carbon impact throughout the full carbon life cycle.
“When we laid out our carbon neutrality roadmap earlier in the year, we also made the commitment to explore the application of innovative technologies in achieving carbon neutrality goals,” said Yijie Peng, President of Social Good and Green Development at Ant Group. “The Carbon Matrix product marks a step further in our efforts and we hope it can help businesses tackle common challenges in enterprise carbon management.”
Businesses have long struggled with challenges in managing their carbon impacts, including low management efficiency, lack of quantified management tools, and difficulties tracking and ensuring the authenticity of carbon offset activities.
Powered by blockchain technology, Carbon Matrix not only provides a one-stop-shop by aggregating and visualizing companies’ carbon data, but also enables third-party environmental institutions to conduct tamper-proof audits and certify carbon neutrality activities remotely. At the same time, Carbon Matrix’s application of secure computation technologies ensures businesses can keep proprietary data safe while disclosing the relevant environmental information to external parties.
As part of its goal to be fully carbon neutral by 2030, Ant Group has already begun using Carbon Matrix for its own carbon management. An increasing number of carbon certifiers, including the China Environmental United Certification Center (CEC), are partnering with AntChain to offer carbon certification services.
As the flagship technology brand of Ant Group, AntChain is dedicated to building the foundations of trust with innovative technologies including blockchain, the internet of things, data analytics, and intelligent risk management. It aims to develop mutual-trusted, high-efficiency technical solutions for the industrial internet, and to support industry collaboration and value creation. AntChain was ranked first in China’s blockchain-as-a-service market in 2020, according to market intelligence provider IDC.