Petrobras Partners With Cardano for Blockchain-Based Fuel Projects
Petrobras, Brazil's state-controlled energy company, has partnered with Cardano to develop two blockchain-based projects.
The first project aims to monitor data on environmentally friendly aviation fuel using the 'book-and-claim' model. In this system, an airline can purchase emission reduction rights even if the fuel is physically used on another flight.
Petrobras has developed a system where each sustainable aviation fuel characteristic is represented by a standardized token on Cardano. Tokens can be created, transferred, and retired once the environmental benefit has been used up, preventing double claiming of emission reductions.
The second project focuses on recording data related to Diesel R, a product containing renewable raw materials, throughout its production, transportation, and usage phases.