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Hedera announces a ServiceNow ESG Public Leger Built Using the Hedera Guardian
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Hedera (HBAR), which claims to be the most used, sustainable, enterprise-grade public network for the decentralized economy, recently made a big announcement that introduced a brand new service known as ServiceNow. This is an ESG Public Ledger that offers a secure, auditable ESG asset management system.
Built on Hedera, the system was developed using the Guardian, and its purpose is to solve the widespread industry issues of fraud, information asymmetry, and other factors. In doing so, Hedera hopes that it will contribute to global efforts aimed at reaching sustainability.
The importance of ServiceNow
In its announcement, Hedera noted that ServiceNow plays an essential role in managing data generated by various devices, from sensors to satellites and even human input. ServiceNow’s goal is to make it easy to interact with this data and particularly with digitized Measurement, Reporting, and Verification (dMRV).
More than that, ServiceNow ESG Public Ledger will track all the audit logs and orchestrate token-related activities verifiably. The service will even be capable of onboarding entire supply chains and emissions with downstream suppliers and upstream customers.
CO2 management is a big part of Hedera, apart from financial aspects. The project noted that climate assets have grown big in recent years, but even so, they lack much information abut provenance and chain of trust. Hedera aims to change this through a better-organized system, which is what ServiceNow is meant to be.
A company that holds brown tokens meant to reduce carbon emissions can use them to acquire green tokens and verifiably burn the same amount of both. In doing so, it would certify the retirement on the ledger, thus making it, essentially, set in stone.
The process is also neither complicated nor lengthy, and it is even fully auditable in real-time. All the data will be available on the chain, and all parties can analyze it through manual inspection, or rather, using automated, AI-based techniques.
Hedera is a perfect network for this kind of service
Hedera continued to explain that the platform integrates natively into the Guardian, and it uses the Guardian spoke, which is essentially a no-code integration. Because of it, it is possible to create any kind of workflow and automation via configurable building blocks, which Hedera named activities.
The Guardian itself is an open-source solution that offers the best available identity management and tokenization libraries. However, at its heart, there is Policy Workflow Engine which uses Hedera’s Consensus Service and Token Service.
Hedera noted that its ecosystem is ideal for this kind of service for several reasons, including the matters of governance, performance, and economics. And, of course, it is carbon neutral, which is something that few projects have achieved, despite many of them trying it.
To learn more about Hedera, visit our Investing in Hedera guide.
