Introducing Hyphen’s Enterprise dMRV
The Fourth Industrial Revolution (4IR) is defined by technological advancements transforming the way society lives, works and communicates. It is the convergence of digital, physical and biological technologies, and is driven by rapid advances in areas such as artificial intelligence, robotics, the Internet of Things (IoT) and smart contracts. The 4IR is expected to bring unprecedented levels of automation and efficiency to industries, as well as new forms of interaction and communication between society and machines.
Technologies such as IoT, artificial intelligence, smart contracts and big data analytics can be used to monitor and analyze data from individual facilities, machines, devices or locations in order to improve timely decision-making, while blockchain-enabled machine-to-machine connectivity allows organizations to provide auditable and proven actions to meet their environmental, societal and governance goals.
In today’s evolving markets, enterprises must digitize and automate their internal processes to stay competitive and adapt to rapidly shifting regulations. This also encourages enterprises to report performance with transparency and accuracy. Many benefits are realized when taking steps to digitize internal protocols.
Enterprise stakeholders are increasingly looking for reliable and comparable data to assess their risks and opportunities. Transitory and physical climate risks are having significant consequences on social and economic systems around the globe. Auditable tracking of this information would satisfy the reporting requirements on the evolving regulatory frameworks around climate disclosure and proven action to meet net-zero targets. There are clear benefits from the assurance that climate impacts are reported accurately, consistently and transparently.
Enterprises are seeking ways to efficiently access timely and accurate information to support their decision-making, especially in the context of meeting their net-zero climate goals. Digitization allows enterprises to automate manual processes, streamline operations and improve efficiency to meet these demands. This transition to digital, automated systems further enables enterprises to collect and analyze data to gain insights into their own behavior, preferences and trends, which inform strategic decision-making — all in real-time.
To support enterprises’ successful transitions of their business for the future, Hyphen Global AG has launched its Enterprise dMRV. This service can enhance enterprises in the sectors of energy and utilities, oil and gas, heavy industry, as well as food and agribusiness. It modernizes an enterprise’s operations and future-proofs its data-flows through Hyphen’s state-of-the-art infrastructure.
Hyphen’s Enterprise dMRV automates and securely reports any primary direct data from internal networks, smart-meters, or IoT to customized user interfaces or existing front ends. This creates a verified and auditable value chain of all data across multiple facilities with real-time insights.
Hyphen combines the power, security and speed of smart contracts and Chainlink decentralized oracle networks for the automation of the data collection, data management and processing, and data reporting to support a multitude of client requirements. The system automates hash validations on public or private blockchains throughout the full life-cycle of the data flow and includes an alerting system detecting anomalies or attempts to tamper with data or devices, establishing confidence in the accuracy of single source-points of data, such as IoT.
Primary Direct Data
Primary Direct Data is measured directly at the source and is more accurate and reliable. For example, this data could include metered flow measurements, fuel sampling, utilities, product flow measurement and other IoT data. This information is measured by the owner of the process, activity, etc., and typically falls within the category of scope 1 emissions.
Scope 1 emissions are the most direct and are generally considered the most controllable emissions for an enterprise, as they result directly from the enterprise’s operations and can be managed through changes in equipment or processes. Reducing scope 1 emissions can be a key strategy for organizations to reduce their carbon footprint and contribute to climate change mitigation efforts.
Leveraging State-of-the-Art Technology
Automation through oracles and smart contracts for the purpose of monitoring primary direct data allows enterprises to avoid bottlenecks and eliminates friction in an enterprise’s strategy, providing various benefits, such as improved data quality and security, better data integration, faster access to data, and lower costs.
- Increased efficiency: Hyphen’s IaaS reduces the time and effort required to manage data. Automation allows enterprises to streamline workflows and dedicate more time and focus to more strategically beneficial tasks.
- Improved data quality: Hyphen’s IaaS data processing reduces the risk of error, inconsistencies and duplications thanks to machine-to-machine connectivity, which leads to more accuracy and reliability for enhanced decision-making.
- Improved data integration: Automation through Hyphen’s IaaS facilitates the integration of data from multiple different sources, making it easier for enterprises to analyze and interoperate data from multiple systems. This eliminates internal silos to enable enhanced collaboration within an enterprise.
- Faster access to data: Hyphen’s IaaS provides faster access to data through smart contracts and oracles, allowing enterprises to make informed decisions in real-time.
- Cost effective: Hyphen’s IaaS helps reduce the cost of data processing and management by eliminating the need for manual data entry and processing, spreadsheets and additional staffing. This makes an enterprise’s audit process more efficient, less time consuming, and ready for evolving regulations.
The Fourth Industrial Revolution is driving transformations that enhance the way enterprises operate in pursuit of their net-zero targets. To this end, there is a great need for reliable, auditable and transparent reporting of data. Hyphen’s Infrastructure-as-a-Service enables enterprises to modernize their operations, streamline data flows and improve efficiency, leading to improved decision-making in real-time. Hyphen’s service is an ideal solution for enterprises to future-proof their data flows, enabling a smooth and verifiable transition to achieve net-zero targets.
Hyphen is committed to pioneering science-based digital MRV solutions with a strong emphasis on environmental preservation and collaborative stakeholder engagement. We firmly believe that safeguarding biodiversity and ecosystems is imperative for a sustainable future. By harnessing real-time atmospheric greenhouse gas data, our mission is to enhance the integrity of carbon markets.
Hyphen’s methodologies have been honed through over six decades of research conducted under the auspices of the World Meteorological Organization. We place atmospheric greenhouse gas monitoring at the forefront of efforts to improve the verification of emissions reductions, removals and sources. In an era characterized by the global shift toward a green economy and the overarching goals of the Paris Agreement, Hyphen stands as a leader, advocating for science-driven MRV solutions that unlock the full potential of voluntary carbon markets and comprehensive sustainability initiatives.