InterWork Alliance (IWA)


Voluntary Ecological Markets (VEM) Overview – Volume 2

The Global Blockchain Business Council’s (GBBC) InterWork Alliance (IWA) is pleased to announce the release of the second version of the Voluntary Ecological Markets (VEM) Overview.

This overview establishes a model set of standards for tokenization, contractual extensions, workflows, and analytics for voluntary ecological markets. These standards are based on the IWA’s Token Taxonomy Framework, and intend to serve as foundations for using distributed ledger technologies (DLT) to create an auditable and scalable ecosystem for voluntary ecological markets.

This overview is intended as an introduction and basis for further dialogue and cooperation with all relevant stakeholders in the ecosystem. The goal is to cultivate further cooperative efforts on the keystone elements and best practices for tokenization of ecological assets, with the intention to align around a common governance set of standards, specifications, and classification systems.

We encourage members interested in the GBBC and IWA networks to reach out and engage with us as we move the conversation forward.

Thank you to our CONTRIBUTORS

John Lee
Jodelle Lai
Khadija Siddiqi
Nick Ho

Ben Johnstone
Darren Wolfberg

Lars Kvale

Neil Cohn

Jessika Faulkner
Lacie Milton

Matt Smithies

Nimrod Cohen
Justyn Spooner

Diana Barrero Zalles

Jackson Ross
Paul Rapino

Jonathan Ra
Paul Madsen
Wes Geisenberger

Justin Atwell

Serge Metelin

Gregor Buchberger
Jan Scheufen
Raj Iyer

Michael Dieck
Will Stull




Blockchain Triangle


Chia Network

Citizens Bank





Global Blockchain
Business Council (GBBC)


HBAR Foundation

Swirlds Labs




Marley Gray



Alan Ransil
Marc Johnson

Richard Dwelle


Stan Chen


Bart Cant
Greg Stone

Adam Linton
Steven Witte
Esteban van Goor

Cameron Prell




Protocol Labs


Rearden Digital Assets




ReThink Ledgers





A special thank you to those who helped to create version 1 of the whitepaper:

Ken Anderson, Karishma Ansaram, Janie Baños, Tom Baumann, Mauricio Bermudez, Avinash Burra, Daniel Feichtinger, Spencer Gilbert, Enrique Gomez, Tom Herman, Jaime Inchaurraga, John Lee, Doug Miller, Darko Pilav, Andrew Pisano, Jyoti Ponnapali, Debbie Reed, Matt Schmitt, Michael So, Conor Svensson, Tomas Thyblad