China’s BYD, the world’s largest manufacturer of electric vehicles and batteries, launched their carbon banking system. It uses the VeChainThor a business orientated public blockchain architected by VeChain.
VeChain and DNV GL, a global quality assurance and risk management firm based in Norway, were co-developers of the app. DNV is also an investor in VeChain.
Together the three have developed a carbon credits solution which rewards drivers based on their performance and carbon footprint.
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