On June 5th, China Beijing Environment Exchange (CBEEX), WeBank and Green 
Inclusive jointly announced that they will carry out technical cooperation for 
the development of the Green Mobility Inclusive Platform using blockchain. The 
three parties signed a Green Mobility Blockchain Strategic Cooperation 
Framework Agreement during an online launch conference. 

At the conference, Henry Ma, EVP and CIO of WeBank, released the first white 
paper on the social governance framework based on blockchain technology, MERITS 
(Measurable Ethics: Rating, Incentivization, Tracking & Supervision Framework), 
which aims to unite multiple participants to accomplish the mission of 
technology-enabled promotion of good deeds. 

The Green Mobility Inclusive Platform serves end-users through its WeChat 
Official Account and WeChat Mini Program, and adopts the FISCO BCOS open-source 
consortium chain platform, according to the Green Mobility Blockchain Strategic 
Cooperation Framework Agreement. The WeBank-led blockchain infrastructure FISCO 
BCOS is a financial-grade blockchain platform open sourced in 2017.

The Green Mobility Inclusive Platform promotes the reduction of greenhouse gas 
emissions by limiting motor vehicle usage. In the future, the platform will 
include more transportations like bus, subway, etc for the green mobility 
scenario.

WeBank releases the "MERITS" White Paper to encourage public to promote good 
deeds

"The platform is upgraded and optimized under the MERITS framework to ensure 
open and transparent processes of issuance, distribution, sponsorship, 
exchange, clearing and settlement, supervision and auditing with real-time 
traceable and verifiable records. Empowered by leading-edge technologies like 
AI, Blockchain, IOT, it may reach consensus among parties effectively while 
meeting compliance requirements and enhancing credibility," Henry said.

The Green Mobility Inclusive Platform is the first landing project based on 
MERITS framework. Through the design of participants' roles and operating 
processes, the three core mechanisms of MERITS can be reflected: First, Rating 
Mechanism, the green and low-carbon travel behavior of users of Green Mobility 
Inclusive Platform is recorded by the Internet and IOV (Internet of Vehicles) 
devices and accurately measured by carbon emissions. Secondly, the Incentive 
Compatibility Mechanism allows each participant of Green Mobility Inclusive 
Platform to take actions based on their own demands to realize the result of 
win-win and advocating low-carbon values. Finally, to balance innovation with 
risk, the Compliance Governance Mechanism allows the Green Mobility Inclusive 
Platform to meet the regulatory and auditing requirements by taking advantage 
of the immutability, full process traceability, and multi-party consensus of 
adopting blockchain technology.

"CBEEX has exerted its innovative advantages and jointly released the Green 
Mobility Inclusive Platform with WeBank and Green Inclusive. Through 
market-based incentives, we promote a method for the public to travel 
environmentally friendly. The platform also incorporates the social governance 
framework MERITS proposed by WeBank, to encourage everyone's good deeds through 
technological means," said Wang Huijun, EVP of CBEEX.

"The Green Mobility Inclusive Platform is combined with the concept of MERITS, 
using blockchain technology to attract more participants to join in. The 
established green inclusive ecological closed-loop sustainable economy ensures 
that carbon points will be used to reward users for their carbon emission 
reductions," said Jiang Nanqing, chairman at Green Inclusive.

MERITS provides solutions for efficient governance in epidemic management and 
containment

Looking into the future, Henry mentioned MERITS can also be applied to 
Environmental Protection, Personal Fitness and Health, Cultural Enrichment, 
Philanthropy and Community Service as well as Public Health. Particularly, in 
the global fight against the COVID-19 pandemic, by applying the MERITS 
framework, public health administration can join hands with nongovernmental 
parties in the aim to encourage organizations and individuals to actively 
participate in and contribute to coronavirus prevention efforts.

For instance, the Incentive Compatibility Mechanism can be designed to 
encourage individuals to declare travel history or other related information, 
take temperature, and self-isolate, which will help effectively contain the 
spread of the infection.

"With the help of MERITS, WeBank hopes to work with our partners globally to 
promote good acts of kindness with science and technology. In this regard, the 
Incentive Compatibility Mechanism of MERITS can benefit from open collaboration 
and serve to guide the public to practice good deeds through positive tangible 
incentives," Henry said. 

SOURCE  WeBank