Carbon and Chain – Creating a viable carbon credit exchange network through the use of blockchain technology.

The environment, and indeed, the effect of global warming is a massive topic and worry for all on a global scale. Climate change is a massive worry and something which affects us all, no matter where or what we do. Weather systems have already changed their patterns, resulting in some of the most devastating weather phenomena we have experienced on a global scale in the history of mankind. The United Nations have in place a protocol called the Kyoto protocol, which whilst currently penalises excessive carbon emissions, and limits the effect, will expire in 2020, and the need to become accessible through the digital forum is high. Digital and blockchain technology is the way forward for this system and the Paris agreement that is replacing the Kyoto protocol. Carbon credits, the market mechanism that is the direct offshoot of these protocols are the future of tradeable credit and will ensure that countries have the ability to offset and counteract their carbon footprints and increase their ability to fall within the limits imposed for a safer climate. The need for cost-effective mitigation strategies will be at the forefront of all business and countries concerned, and carbon credits are just that – the mitigation that these users need.

Carbon credits fall into a number of different formats, including VERs – Verified Emission Reductions – those that are voluntary, CERs – Certified Emissions Reductions, for offset reached under compliance. There is also a CDM – clean development mechanism, which in turn sustains CERs and results in the most effective outcome. The Paris agreement will fully reshuffle the way on which the climate marketplace exists and many markets that previously languished or were unable to flourish under the Kyoto agreement will be able to succeed and improve their carbon standing. Through blockchain based technology, the entire marketplace will be able to benefit from the rapid based, transparent, decentralized nature, and ensure fraud, double accounting and unsuccessful targets area thing of the past.

Carbon Chain will ensure that every single person, globally, will have the chance and possibility to participate within the issues and goings on of climate change and its protocols. Through its three main standpoints – Transparency, Innovation and Sustainability, Carbon Chain endeavours to create a valid, cohesive and coherent ecosystem, wherein the marketplace is a safe, secure and fair one. The company will also ultimately reach the goal that all are searching for, and that is of assisting and improving carbon footprints and reducing the effects of climate change.

Carbon Chain utilises their blockchain ledger system to be able to incentivise others and create a sustainable business format. Carbon credits can be sold at a discounted rate through the e-wallet facility and utilising the CCT (carbon chain token), increasing the rate at which the ecosystem develops and allowing a purchased potential of 20% discount on carbon credits. The company ensure that fiat-based finance raised by their selling event will be able to be re-registered within the system, and ensure that users will be able to garner profit from the entire movement. The program itself fully utilises the peer-to-peer nature of the blockchain, and the ledger system looks set to reduce the rate of development within the process, and thus reduce carbon assets development by between 20-30%, which is a massive improvement. The Carbon credit itself gives the owner the permission to emit CO2 or a greenhouse gas, sp by regulating and costing these issues, the rate will definitely be reduced, as companies and users seek to find safer, cost-effective ways to continue.

The very nature of blockchain, its transparency, decentralized nature, cohesiveness and coherency, means that the data-driven notion of a carbon credit is easy to uphold, and indeed police. The data required to follow the process is easily handled within the blockchain sphere, and the entire world will benefit from its cohesive nature. The CCT will exist within the ethereum smart contract ecosystem, and be governed by the CCX (the carbon credit exchange) The e-wallet facility assists users to be able to buy, sell or keep their tokens (both CCT and CCPT -carbon chain project tokens) The wallet offered up by carbon chain also allows the selling and buying of bitcoin and Ethereum, something which is useful to the continued growth of the blockchain universe. Each trading possibility has been well thought out and massively considered by Carbon Chain, and the safeguarding of its users is at the forefront of the ecosystem that is offered up. The public nature and secure smart contract feature of the blockchain will ensure that the worldwide aspect of the entire process is verified, transparent and fluidly liquid in its presence.

This platform looks to massively revolutionise the way in which the Carbon Emissions process occurs on a global scale. The team have ensured that through engagement with project developers, conversations and permissions garnered from designated national authorities, consulting local stakeholders, and much much more, they have created a fully cohesive ecosystem to change the way in which carbon emissions exist globally. The protocol will be constantly monitored and analysed, ensuring the best results at all times, and the most accurate use of data garnered through the blockchain. I for one feel that this protocol is a completely revolutionary prospect for the world of carbon emissions and the carbon footprint of the world, and will be watching this platform as it expands, in both size and success. The team behind Carbon Chain have really cornered the market on utilising revolutionary blockchain technology for this extremely worthy and important platform.

Website:https://carbonchain.org/
Whitepaper: https://carbonchain.org/wp-content/uploads/carbon-chain-white-paper.pdf
Facebook:https://www.facebook.com/CarbonchainInternational/
Twitter:https://twitter.com/chain_carbon
Bounty0x username: @frankiemalton