The combination of carbon offsetting and blockchain technology holds significant potential for enhancing transparency, traceability, and efficiency in the carbon offset market. By utilizing blockchain, stakeholders can transparently trace the entire lifecycle of a carbon offset. This transparency can enhance help build trust and ensure the legitimacy of offset projects, thus reducing the risk of fraud and ensure that the claimed emissions reductions are legitimate.
This project seeks to:
- track emissions data at various stages of the supply chain thus improving the calculation of carbon footprints
- foster the process of verifying emissions reductions and trigger the issuance of corresponding carbon credits
- democratize access to carbon offset markets, allowing smaller projects and individuals to participate more easily.
- enable the tokenization of carbon credits