Here is the plan:
- Every nation has its CO2 budget, based on the Paris agreement and has to deposit a pledge in Bitcoin to participate in this program
- Satellites etc. track which country emits how much CO2 and give the result e.g. every week to an assembly where every nation looks at its collected data (can be done fully automatically as well).
- Every nation has its own anonymous key to a multi-sig wallet (e.g. 150/195 wallet). If the data of a nation from step 2 comes to the conclusion, that another nation emitted more than it has certificates, it can sign a transaction on the multi-sig wallet to move the according pledge from the nation who emitted too much CO2 to the rest of the nations who emitted less than it actually needed. This forms the consensus mechanism. As the votes are anonymous and the CO2 source location are transparent.
Done.
What do you think?
Questions, some of you will probably have:
„Why should countries participate in this?“ Answer: If e.g. the USA and EU start this and only trade with nations who participate in this program, you could force others to join. You can make a lot of money with this.
Open problems / questions that came to my mind, that may need a solution:
What if every country emits too much CO2?
How should we distinguish between natural and anthropogenic CO2 sources?
Does it matter if the bitcoin price fluctuates much?
What if a key of a nation gets hacked / lost?
Can you track CO2 sources via satellites and planes precise enough?