Blockchain Labs for Open Collaboration won MIT Solve’s Coastal Communities Challenge, for its work in developing shipping Emissions Monitoring Reporting solutions.
BLOC was chosen amongst 33 teams that took part in the Solve Challenge Finals, which embodied a live pitch event in the UN General Assembly week in NY. The Solve’s Challenge Leadership Group judges opted the Solver teams as the ideal set of solutions showing potentials into tackling large-scale global challenges.
BLOC’s Shipping Emissions Monitoring Verification and Reporting solution concentrates on building digital infrastructure to:
- Improve coastal community health and safety by tracing shipping emissions.
Moreover, BLOC’s patent ensures the chain of custody concerning marine fuel data by
- Using blockchain in real-world; in that way, BLOC will make a support system for complying with environmental regulations, such as IMO 2020 Suplhur Cap.
To this result, the Emissions MRV application is based on the Marine Fuel Assurance prototype which is funded by Lloyd’s Register Foundation as part of BLOC’s Maritime Blockchain Labs initiative.
Deanna MacDonald, CEO of BLOC, commented that the company is proud of participating in MIT Solve competition in the Coastal Communities Challenge. The competition is a platform of raising awareness on the matter of fuel challenges and joining partners to find solutions.
