Abu Dhabi - The co-funding of the Seagrass and The Hashgraph Association initiative was announced on December 9 in Abu Dhabi. Seagrass, a climate action company and subsidiary of E.ON, one of Europe's largest operators of energy networks and infrastructure, has partnered with The Hashgraph Association, the non-profit organization accelerating the global adoption of the Hedera distributed ledger technology (DLT) network, to launch a co-funding initiative for the Seagrass Wallet, a proof-of-concept Web3 identity wallet that provides users with a decentralized digital identity and wallet linked to their carbon projects.
The Seagrass Wallet is a state-of-the-art Web3 digital wallet that creates, stores, and presents digital identities with verifiable credentials in addition to storing and exchanging assets. The digital identity would put users onboarded by Seagrass in charge of their credentials, potentially saving time and reducing costs by allowing them to interact with other market participants without having to go through new due diligence or know-your-client checks.
The Web3 Identity Wallet provides transparency of environmental, economic and project data to buyers and developers. The Self-Sovereign Identity (SSI) architecture enabled by Hedera ensures that users have a decentralized digital identity and the Web3 wallet is compliant with European standards.
The Seagrass Wallet supports Seagrass' goal of unlocking the potential of carbon markets and transforming carbon finance, which can make an important contribution to the net zero transition. This collaboration aims to connect supply from certified projects with large-scale demand from buyers with ambitious climate strategies in a centralized marketplace driven by technology, transparency and integrity.
