ANZ chairman Paul O’Sullivan said non-fungible tokens (NFTs) should be used to create digital representations of carbon credits to build a better and more reliable Australian carbon market.
Mr O’Sullivan said banks have a “frontier opportunity” to build new products using similar technology to that which powers cryptocurrencies, enabling more transparent and efficient markets including those that will trade credits relating to environmental emissions.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
