NoviqTech has been awarded a $160,000 grant to develop Registry 2.0, a blockchain-backed platform that will modernize Eco-Markets Australia’s environmental credit system, enhancing transparency and scalability for programs like the Reef Credit Scheme.
- NoviqTech awarded $160,000 grant from The Hashgraph Association
- Development of Registry 2.0 MVP to modernize environmental credit tracking
- Collaboration with Eco-Markets Australia and The Hashgraph Group
- Platform leverages Hedera Guardian framework and Carbon Central technology
- MVP targeted for completion in first half of 2026 with plans for expanded phases
A New Era for Environmental Credit Registries
NoviqTech Limited (ASX – NVQ) has taken a significant step forward in the environmental technology space by securing a $160,000 grant from The Hashgraph Association. This funding will support the development of Registry 2.0, a next-generation digital platform designed to overhaul Eco-Markets Australia’s (EMA) environmental credit registry system. The initiative aims to bring blockchain-backed transparency, security, and scalability to the issuance, transfer, and retirement of environmental credits, including the well-known Reef Credit Scheme.
Collaboration and Technology Integration
The project is a collaborative effort involving NoviqTech, EMA, and The Hashgraph Group (THG), with THG providing project management and scope oversight. Registry 2.0 will leverage the Hedera Guardian framework, an open-source system known for its auditable and verifiable environmental asset creation, integrated with NoviqTech’s proprietary Carbon Central platform. This combination promises a robust infrastructure capable of handling complex environmental credit transactions with enhanced transparency and compliance.
Phased Delivery and Future Growth
The initial phase focuses on delivering a Minimum Viable Product (MVP) by mid-2026, establishing foundational functionalities such as credit issuance, transfer, retirement, and participant onboarding with integrated Know Your Customer (KYC) compliance. The phased grant structure ties funding to milestone achievements, ensuring accountability and progress. Beyond the MVP, NoviqTech and its partners anticipate further funding and an expanded Phase 2 project to broaden the platform’s capabilities, support additional environmental credit programs, and enhance interoperability.
Strategic Implications for Environmental Markets
Eco-Markets Australia’s vision for Registry 2.0 is ambitious – to create a resilient, scalable, and future-ready digital marketplace that supports a growing array of crediting programs beyond Reef Credits. By embedding blockchain technology, the platform aims to reduce friction for participants, improve market integrity, and enable science-based credit generation and trading. This initiative could set a new standard for environmental credit registries in Australia and potentially influence global practices.
Voices from the Partnership
Freddy El Turk, CEO of NoviqTech, emphasised the significance of the project, stating, "This initiative represents a major step towards modernising Australia’s environmental credit infrastructure and demonstrates how open-source, verifiable frameworks like Hedera Guardian can support trust and transparency across the market." Meanwhile, Goslik Schepers, CEO of Eco-Markets Australia, highlighted the strategic importance of Registry 2.0 in expanding the Reef Credit Scheme and future-proofing the registry system.
Bottom Line?
Registry 2.0’s rollout will be a critical test of blockchain’s role in environmental markets, with broader implications for transparency and scalability.
Questions in the middle?
- What specific functionalities will Phase 2 introduce beyond the MVP?
- How will Registry 2.0 impact the pricing and liquidity of Reef Credits?
- What are the potential revenue streams for NoviqTech from this multi-phase project?