Topic: Blockchain and carbon credits market. (Read 427 times)

Well, blockchains are flexible in a way that we could actually use it for different industries, businesses or sectors of the government. Heck we can even use it to vote. I think people in power should see how great it is to use blockchain technologies and apply it so that we can see that we don't jist use it for crypto currency.

Check this article that I found.

"Adding 1% to all the goods and services we consume would create an Environmental Super Fund that would dwarf the total aggregate budget for all environmental NGOs worldwide (the annual budget of the world's largest environmental NGO, WWF, for example, is just $250 million)."

Source: https://www.euronews.com/2018/10/24/tying-ourselves-to-trees-won-t-solve-climate-change-view


If the environmental damages of the goods and services that I am purchasing can be neutralized by paying an extra 1%, I wouldn't mind paying the 1% extra at all. How about you guys?

I hope so too. Carbon credits is one of the solutions to slow down global warming and fight climate change but it is failing due to iliquidity and lacks o transparency. I believe if there is a good blockchain project that will handle carbon credits properly, it will serve its purpose properly.

I am believe it will be a new industry in near future. Peoples right now already aware about environment and they want a clean energy. I am believe there is a blockchain project about carbon credit because blochchain is good technology and can applied in many thing

I would not agree with that. Blockchain provides an opportunity to equitably manage the world’s shared natural capital. Decentralization provides new structures for collaboration and technological solutions that allow people to take accountability for assets that are shared among large groups of people.


A project that I am currently following and that I mentioned above, and that is even mentioned in the article you quoted - Veridium, explained this really well on page 11 of their whitepaper. https://veridium.io/static/whitepaper.pdf

I agree with you that deforestation is a bigger problem than emissions but money that is used to purchase those carbon credits can be used for planting new trees.

in my opinion no, other industries that are not within the scope of technology will only be a useless plan if only applying blockchain technology in it without seeing the potential for the future that can bring benefits.

I also heard about Veridium a couple of months ago when IBM announced a partnership with them. I have been following them ever since and really like the project so far.
First thing that I check on those projects is the team and Veridium`s team is really a strong one.

I checked with them yesterday. I saw some sentences on their articles that are a bit questionable. For example, there is one article that says you can buy carbon credits through their market, but when I ask them on Telegram, they said ZCP doesn't sell carbon credits. So I stopped and maybe will just check with them again after few months.

Someone posted here about Veridium. Also a carbon credit marketplace. They sell carbon credits and the credits are verifiable through IHS Markit. Which is a good point.

A lot of good green projects recently. I hope these projects will be successful. It will be very beneficial for both blockchain and carbon trading market.

Many project ICOs doing this and one of that is Zero Carbon Project. Its UK based project with good team. Carbon is world issue and i am believe it will going good project for crypto community

I agree that one of the biggest concern here is deforestation. I have read an article recently that saving the forests and vegetation is as urgent as reducing the global carbon emissions. This is also one of the reasons why carbon credit is important. There are groups that sells carbon credits and uses the funds to protect forests and vegetation.

Have you heard about infinite-earth? One of their projects is the Rimba Raya Reserve. The Reserve provides, preserves and protects 65,000 hectares of peat swamp forest, hundreds of at risk mammal species and providing community development programs for 16 villages. And yes, they provide offset solutions to customers in the developed world while protecting the planet and its resources.

In addition to the issues you mentioned, I will be adding a possible third one: Corruption. Carbon credits are difficult to trade and track. It lacks transparency. At the moment, the only solution I see to resolve this is by using blockchain.



I can't comment much on this since this is kind of political issues. But to what I see, America is doing way better than China in reducing carbon emissions. I heard that China launched their carbon trading market at the end of 2017. I hope that there will be a decrease on their carbon emissions.

I have a different opinion on that. The money that was used to purchase the carbon credits are invested depending on the institution where the carbon credits are bought. Some of them uses the funds to either plant more trees, prevents deforestation, closing companies that are known carbon emitters, investing on green energy, etc. Carbon credits haven’t worked because they are illiquid, difficult to track, hard to calculate, and are not standardized. This is where blockchain will comes in. I saw an interesting project who's planning to automate the world's carbon market but I'll study more about it and share it here.

Also, I think that it is much better that no mining is involve for green tokens as it breaks the purpose.

From what  I know,  Japan is The first country applying blockchain in decreasing carbon emission with the sponsorship of Softbank. IT prove that  Blockchain is more used in many aspects of life

I am really glad we have companies such as IBM backing up that project.
Trading carbon credits on a blockchain will create a more efficient and transparent method for exchanging the valuable certificates tied to reducing greenhouse gas emissions.

It might further questionable political agendas and help to grow crypto markets while legitimizing blockchain technology. Aside from that it won't accomplish much.

The reason carbon credits don't work is they fail to address the real factors affecting our climate. Emissions aren't the main concern. The real issue is between 20% and 80% of the world's natural forests being cut down which greatly reduces the earth's capacity to absorb carbon. Trees function as natural carbon sinks, trapping carbon and storing it for many years.

The secondary issue is: drought. Trees absorb water from their roots and evaporate it through their leaves. This evaporated water generates rainfall. Rising occurrence of drought in the world is also linked to deforestation. If you want concrete evidence of this, deforestation of the amazon rainforest in brazil is linked to their drought issues.

The ideal policies to address climate change are: afforestation. Seed bombings. Addressing desertification.

The way policies like carbon credits are issued is also extremely disproportionate. America's business is punished far more severely than business in china, despite chinese business being vastly more polluting and environmentally damaging than american business. In that we could see political angles being revealed in how the establishment chooses to pursue issues relating to climate change.

The carbon credit market isn't helping for lowering carbon emissions.It should be banned.
We could create a new coin-CARBONCOIN and the mining of that coin should be reducing carbon emissions by using green technologies,such as solar panel and wind turbines.
That's just an idea...

Carbon credit is a permit that allows a country or organization to produce a certain amount of carbon emissions and that can be traded if the full allowance is not used. (according to google)

This is one of the solutions that was created to reduce global carbon emissions and prevent dangerous climate change. However, carbon credits trading is complicated and difficult to track. Blockchain's being immutable and can be verified easily could create an opportunity for us to have a more liquid and more transparent trading market for carbon.

1 carbon credit represents 1 ton of real carbon.

I know that carbon credits are complicated to track and trade. This is one of the area that I am seeing as an opportunity for blockchain to solve.

This is the tough part. Finding if they are legit. I've seen lots of team who doesn't even have background on carbon credits but have started their ICO just because it is profitable. We need a team who has been working on the industry even before blockchain became a trend.

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That's a nice article you found there. So IBM is already working with Veridium Labs to tokenize carbon credits. I'll check that project later.

it seems that if this works I will see both the carbon credit and crypto markets running side by side, but I don't know why most of them lack a lot, I just think that if the project joins blockchain it will definitely be better.

The problem is that blockchain can be used correctly and amazingly in carbon credit market but it is such a huge entry barrier that any low effort would not create any dent into the market. If you want to somehow merge carbon credits market and crypto (well blockchain to be exact) than you would have to do it really big and get into it really highly otherwise it would mean there are no way you can even contact the people needed to get into this.

For example I can just want to start this but I wouldn't know even where to start. This means unless some huge company in the business already decides to do it, it won't happen.

For my country (Ukraine), the topic of carbon credits is not at all familiar. We just figured out the blockchain and mastered the cryptocurrency market. Hopefully, we will also be able to have a good project that will unite crypto and the struggle for a good ecology.

Carbon credits are of a huge amount in the current market and also crypto friendly. So merging those two ought to be beneficial for the investors.

Cryptocurrency has the ability to change things for the better but at the same time there are necessary steps needed to be taken before its involvement in any sort of market, carbon credits or otherwise.

Blockchain,the electronic ledger technology underpinning bitcoin,has been used to address pollution and energy consumption. The tokens could be traded on a distributed, open-source blockchain exchange run by start-up stellar.

There are blockchains which are already involved in carbon credit market.
VeChain already developed a carbon credit app with the help of BYD automobile manufacturer and DNV-GL which will be used on the VeChain blockchain. I hope that it will go live soon.

Actually blockchain can work for every industry. How about IBM?

IBM thinks blockchains can help reduce carbon emissions

I searched for projects that focuses with it and they are plenty of them, I'm not sure on who are the legit ones.

I've seen many projects about this but it seems most of them are lacking on something. Carbon credit market is a billion dollar industry and applying blockchain will be good for both industry.