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Enhancing carbon markets with fintech innovations: The role of artificial intelligence and blockchain

Year: 2024

Type: article

Abstract: The integration of financial technology (fintech) innovations, particularly artificial intelligence (AI) and blockchain, is poised to revolutionize carbon markets by enhancing their transparency, efficiency, and overall trustworthiness. Carbon markets, which are vital tools in global efforts to reduce greenhouse gas emissions, have traditionally faced significant challenges such as lack of transparency, inefficiencies, and susceptibility to fraud. AI offers powerful tools for improving the accuracy and efficiency of monitoring, reporting, and verifying carbon emissions, while blockchain provides a decentralized, immutable ledger that ensures secure and transparent carbon credit transactions. This review explores how AI and blockchain can be applied to carbon markets by exploring the technical, operational, and regulatory challenges associated with their implementation and discuss the potential of integrated AI and blockchain solutions to create more robust and effective carbon trading systems.

Source: World Journal of Advanced Research and Reviews

DOI: 10.5281/zenodo.14842793

Authors: Oluwaseun Aaron Adigun, Babatunde O Falola, Sunday David Esebre, Ifeoluwa Wada, Abdullah Tunde Adewuyi, Temitope Dickson Olajide, Pelumi Oladokun

Institutions: Binghamton University, Texas Tech University, Bournemouth University, Western Illinois University

Language: English

Topic: Blockchain Technology Applications and Security

Subfield: Information Systems

Field: Computer Science

Domain: Physical Sciences

SDGs: Climate action, Industry, innovation and infrastructure

Open Access status: hybrid

OpenAlex ID: W6893086251

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