Brazilian state-controlled energy titan Petrobras has unveiled two new Cardano-based blockchain applications that focus on traceability of lower-carbon fuels.
On Friday, the Cardano Foundation announced that it had worked with Petrobras and the Pontifical Catholic University of Rio de Janeiro's blockchain research center called Ledger Labs on applications focused on sustainable aviation fuel (SAF) and Diesel R, Petrobras' diesel product with renewable content.
Aviation fuel on Cardano
The first application deals with sustainable aviation fuel. It aims to solve the problem of proving who is entitled to claim the environmental benefit linked to a specific quantity of SAF.
Cardano is being used as an auditable record of the aforementioned claims with the help of tokens.
First, certificates are checked against CORSIA and other standards. Then, their attributes are tokenized.
The resulting tokens can then be allocated to airlines or individual passenger journeys.
An established relationship
Petrobras and Cardano have already collaborated before, so this is an extension of their relationship.
The Cardano Foundation first publicly announced a partnership with Petrobras in December 2023. This, however, was an education-focused initiative: Petrobras employees were taught about blockchain concepts and possible enterprise-level applications.
Petrobras was the first Forbes 500 company to be onboarded with Cardano.
Cardano technology has also previously been tested by Petrobras for internal administrative purposes.
The latest announcement does not mean Petrobras is adopting ADA as a payment asset. Cardano's blockchain serves as the infrastructure for recording and verifying data, which is also an undeniably notable development.
ADA, Cardano's native cryptocurrency, was trading at roughly $0.245 at press time, with a market capitalization of about $9.3 billion, according to CoinGecko data.
Arman Shirinyan
Dan Burgin
U.Today Editorial Team
