Distributed Ledger Technology, or DLT, is an immutable tool that allows tracking of data with a product and the transactions associated with the product. Verity Tracking developed the DLT tool using blockchain technology to make the most of the key metrics for sustainability.
When economics can be used as an engine to power investment in sustainability, progress will accelerate. This DLT system minimizes the risk of fraudulent claims and will enable a sustainability assurance that has not yet been seen in the world. As this assurance is digitized through blockchain, the goal is to tokenize those attributes, and create true translatable value that will be shareable through market mechanisms.
The use of blockchain and DLT comes at an opportune time, as market comfort levels with these concepts are growing, and will enable a market for measurable sustainability that is traceable and immutable. It will allow people to make sustainable investments. Businesses who wish to make sustainability claims can then be held accountable to those claims.