Carbon Emissions are causing a major crisis within the environmental ecosystem, polluting the air and costing vast amounts of money to solve. Greenhouse gases are drastically increasing emission levels, aiding in the reality of global warming. Methods of taxation are commencing to reduce and regulate carbon emissions, this is known as Carbon trading. Carbon trading has made it’s way to blockchain. CarbonChain is a decentralized, nature-friendly blockchain built to revolutionize the carbon industry and combat climate change. CarbonChain is aligning its goal with changing the world and creating a cleaner environment; through the taxation of carbon emissions, and also aims to reduce GHG levels and secure all data through blockchain technologies.
How We can Reduce the Need for Carbon Trading
CarbonChain will be developing a blockchain-based ledger to pioneer carbon reduction projects including but not limited to solar power, hydro and wind farms. The Paris agreement has aided in level reductions and assisted in climate control although not all countries have agreed and this is why. The CarbonChain token will be used to aid newly registered projects in generating carbon credits which will be usable for up to 28 years; due to the Paris agreement changes commencing in 2020, the value of credits is expected to increase exponentially. All carbon credits sold will be converted into the CarbonChain token; 30% of these tokens have been sold to the community through exchanges to excel the trading of this token. Blockchain will ensure no manipulation of accounting, providing transparent evidence of data acquired and a secure method of storing information.
Cleaning Up with Crypto
CarbonChain wants to hold users accountable for their carbon output and secure all data through Blockchain technology to ensure a reliable source of evidence. Users holding CarbonChain coins will be offered 30% traded tokens back annually to enhance the ecosystem of these carbon-based credits through trading exchanges. CarbonChain’s vision is to create a highly secure and highly scalable decentralized blockchain infrastructure for next-generation carbon trading. Anyone holding the CarbonChain token will have an entry point into this international market and ultimately be contributing to a cleaner world.
Is Carbon Trading a Thing?
Since the signing of the Kyoto Protocol, billions of dollars have been traded in carbon credits. In 2016 alone, over $60 billion worth of credits traded worldwide.
What is a Credit?
A carbon credit is generated through the generation of renewable energy. It is created through the ‘differential’ of carbon emissions between how energy is produced in a country – under business as usual – and the renewable energy production – in short – energy is mainly produced by burning a fossil fuel such as the burning of coal – this emits carbon. If energy is now generated using the sun or the wind, there are no carbon emissions – the differential of carbon emissions is then audited under strict UN rules and standards and carbon credits are then issued to show what, where and how these carbon reductions have occurred.
Blockchain and carbon credits
CarbonChain will be developing a blockchain based ledger to assist countries to prove to the rest of the world how they are achieving their Climate Change targets in line with the Paris Agreement. In doing so, Carbon Chain will not only facilitate the carbon credit generation on UN registered projects and be able to trade these credits. It will be able to place on the blockchain other carbon reductions taking place in the country that are actually reducing carbon and be able to prove these reductions to aid the country adhere to its Climate Change targets. With the introduction of the Paris Agreement, all of the countries in the world have presented their reduction targets. Carbon Chain aims to help them prove this.
Cleaning up with Crypto
Carbon Chain wants to allow everyone the ability to assist in Climate Change by, being able to take part in proving that carbon reductions are taking place and people in countries around the world are taking Climate Change seriously. By being part of the Carbon Chain community – Carbon Chain tokens are held in Carbon Chain e-wallets which, not only allow these tokens to be sold to carbon credit buyers via Crypto Exchanges that can be traded to Carbon Chain for carbon credits, token holders will be entitled to receive 30% of the traded tokens back annually into their Carbon Chain e-wallets to enhance the Carbon Chain’s vision in creating a highly secure and highly scalable decentralized blockchain infrastructure for next generation carbon trading.
Learn more about CarbonChain and their mission to combat carbon pollution: https://carbonchain.org/