What the mainstream media do now is simply ignore the story once they've been proved wrong.
The Australian and New Zealand Banking Group (ANZ) have partnered with Grollo Carbon Ventures (GCV) to allow the trade of Australian Carbon Credit Units (ACCUs). The project was one of 14 piloted by the Reserve Bank of Australia to investigate potential uses of a central bank digital currency (CBDC).
In the project, ANZ and GCV focused on the tokenization of nature-based and real-world assets, and they started with ACCUs. They tokenized already existing ACCUs and issued a stablecoin, A$DC, which allowed the GCV to buy tokenized ACCUs with real-time settlement through ANZ's smart contracts.
They conducted the transaction on a public and permissionless blockchain using a pilot CBDC to back the issuance of the dollar-backed stablecoin. “When applied to carbon markets, tokenization has the potential to improve efficiency and transparency, reduce risk and preserve the unique characteristics of underlying projects to incentivize investment in climate solutions,” said Nigel Dobson, ANZ's banking services head.
Meanwhile, ANZ is partnering with two universities to run a trial of offline CBDC payments. In another pilot project, it is testing the effectiveness and efficiency of employers in using CBDC as an alternative to traditional payment methods.
This comes after a series of worrying developments involving both CBDC's and Carbon Tracking.
A major bank in Australia has already introduced a feature that links purchases to a customer’s carbon footprint and warns them when they are going over the prescribed limits.
Australia’s Commonwealth Bank (CBA) has partnered with Cogo, a “carbon management solutions” company, to launch the new feature, which is part of CBA’s online banking platform.
The bank gives the customer the option to “pay a fee” to offset their carbon footprint, with the average listed as 1,280 kilograms, a long way from the ‘sustainable’ figure of 200 kilograms.
A bank in Canada has become the first in the country to launch a credit card that tracks a customer’s carbon emissions, a sure sign that the carbon credit system is imminent. In an effort by the credit union to display its commitment to ‘climate action’, Vancity have launched a credit card that links purchases directly to carbon emissions, designed to shame the customers into making 'the right choices', ones that are better for the environment.
Whilst the deputy CEO of the IMF stated “A CBDC can allow government agencies and private sector players to programme, to create smart contracts, to allow targeted policy functions,” he explained. What 'targeted policy functions' really means is the ability of those who issued the money to control how it's spent."
It's coming, and it'll be worse than you could possibly imagine.