Blockchain and carbon credits market.

[iarsenaux15]

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.

[1714982906]

1714982906

[1714982906]

1714982906

[1714982906]

1714982906

[1714982906]

1714982906

[batang_bitcoin]

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.

[shane]

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.

[StephanHofmann]

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.

[MohamedJones]

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.

[ZoranLOP]

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.

[pavka]

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.

[Whosdaddy]

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.

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.

[Renaldi blackspadeteam]

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.

[iarsenaux15]

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.

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.

-----

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.

[iarsenaux15]

Yes, that is a good idea. Applying Blockchain on the carbon credit market will help both of the industries. But, it is hard to predict exactly how much it will help them.

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.

[iarsenaux15]

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 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.

[davis196]

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.

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...

[Hydrogen]

Carbon credit market is a billion dollar industry and applying blockchain will be good for both industry.

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.

[HerZika]

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.

[Finn Bery]

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

[iarsenaux15]

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.

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...

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.

[iarsenaux15]

Carbon credit market is a billion dollar industry and applying blockchain will be good for both industry.

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.

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.

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.

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.

[Bitfling]

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.

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

[iarsenaux15]

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.

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 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.