By establishing trusted decentralized identities, entities (vehicles, people, organizations, devices, etc.) can function as independent economic agents in various transactions with assured data privacy preservation. A standardized identity management system is crucial for implementing accurate digital MRV (monitoring, reporting, and verifying) for GHG emissions, as mitigation strategies rely on verifiable and seamless data tracking.
The pilot study demonstrated that SSDTs™ can connect entities for secure transactions while preserving data privacy in accordance with the General Data Protection Regulation (GDPR), electronic IDentification, Authentication, and trust Services (eIDAS), and ePrivacy Directives. Additionally, it showed the technical feasibility of sharing vehicle information, such as fuel consumption or emissions, to a decentralized monitoring system.
From the EC Report: “The simulations illustrated that connecting a vehicle fleet of 280 million vehicles, the EC, and 27 Member States through two heterogeneous blockchains communicating in tandem is viable at a pilot level. Storing and reporting data, such as that recorded by On-board Fuel Consumption Monitoring Devices (OBFCM), on a tamper-resistant blockchain has the potential to reduce operational costs while enabling compulsory monitoring of CO2 and energy consumption.”