Metasphere Labs Inc., formerly known as Looking Glass Labs Ltd., has announced a non-binding Memorandum of Understanding (MOU) with Pure Sky Registry LLC, underscoring the rising significance of real-world assets (RWAs) in blockchain technology. This collaboration aims to integrate Pure Sky’s carbon credit registry with blockchain technology, representing a significant stride in environmental sustainability efforts.
Integration Plans:
Under the MOU, Metasphere will explore commissioning the integration of Pure Sky’s carbon credit registry with blockchain technology. Additionally, the company will develop a comprehensive statement of work (SOW) detailing the scope, timeline, and responsibilities for integrating the Pure Sky registry web application with the Pure Sky Decentralized Autonomous Organization (DAO) and carbon credit registry smart contracts. This SOW will lay the groundwork for any potential contractual agreement concerning the project.
CEO’s Perspective:
Natasha Ingram, CEO of Metasphere, expressed enthusiasm for the collaboration, highlighting its potential to advance blockchain’s role in environmental sustainability and enhance transparency and efficiency in the carbon credit market.
Pure Sky’s Approach:
Pure Sky operates as a DAO on the Ethereum blockchain, emphasizing participatory governance and utilizing smart contracts to ensure integrity and accountability. Marty Seymour, Managing Director of Pure Sky, emphasized the transformative potential of Metasphere’s integration, anticipating improved accessibility and efficiency in carbon credit transactions.
Industry Trends:
This collaboration mirrors a broader trend in the integration of traditional financial mechanisms with blockchain technology, exemplified by initiatives like BlackRock’s partnership with Coinbase to launch the BlackRock Institutional Digital Liquidity Fund. Such ventures reflect the financial industry’s growing acknowledgment of RWAs, such as carbon credits, and digital assets’ capacity to reshape the financial landscape.