1️⃣Abstract

The uncontrolled emission of carbon dioxide and other greenhouse gases (GHG) into the atmosphere has led to disastrous consequences, including rising temperatures, extreme weather events, and the loss of biodiversity. The urgent need to mitigate climate change has resulted in the development of various carbon offset programs that allow individuals and organizations to compensate for their carbon emissions by supporting projects that reduce GHG emissions or remove carbon from the atmosphere. However, existing carbon offset programs often lack transparency, accountability, and traceability. The traditional carbon offset market is rife with inefficiencies, opaque processes, and centralized intermediaries. BlockCarbon is responding to the urgent need for a decentralized, transparent, and secure solution for carbon offsets and investable carbon.

To fight climate change, government taxation and consumer awareness are not enough. We need a paradigm shift in financial markets and industry to rapidly incentivize emission-reducing innovation, the use of low emission fuels and carbon sinks such as reforestation on a huge scale. Currently, government emissions trading schemes and a voluntary carbon market for enterprise try to achieve this, but are plagued by a myriad of problems causing market fragmentation and lack of adoption. Through tokenization, blockchain can fix these issues. Unlike legacy registries, the nature of blockchain validation ensures immutable and verifiable record keeping, Common problems of carbon accounting, like questionable additionality of offsets, leakage of emission mitigation into other jurisdictions or double counting will be much easier to address. BlockCarbon aim to create best practises for trustless global carbon tokenization. Along with building a datebase of all known projects, methods and research, we can build an alternative to limited national schemes and low-quality “green washing” offsets of the corporate sector.

The BlockCarbon Suite is a revolutionary blockchain-based solution that aims to address the pressing issue of carbon offset in a decentralized and transparent manner. Inspired by the principles of decentralization, transparency, and cryptographic security, BlockCarbon leverages blockchain technology to enable individuals and organizations to offset their carbon emissions by allowing tokenization of carbon credits.