CARBON CHAIN; A REAL WORLD SOLUTION FOR CLIMATE CHANGE

Scientists over the years have been able to collect different types of information from Earth orbiting satellites and other technologies about our planet and its climate on a global scale. After careful analysis, the collected body of data indicates strong changes in our climate. Some of these changes are noticeable in global temperature rise, warming oceans, shrinking ice sheets, glacial retreat, sea level rise, declining Arctic sea ice, ocean acidification and other extreme natural occurrences.

Climate change is a term used to describe a broad range of global phenomena caused predominantly by burning fossil fuels, which add heat trapping gases to Earth's atmosphere. Climate change often called global warming, is one of the biggest crises facing humanity that could lead to the beginning of the end of the human race if not squarely attended to.

Extreme weather conditions are experienced in many parts of the world today as a result of a major disorder in our climate. This has created a disbalance in the ecosystem that is gradually destroying flora and fauna. Many countries are making deliberate effort through establishing legislations that will save the planet and ensure it remains habitable.

Nations of the world came together and adopted the Kyoto Protocol placing restrictions and proffering sanctions on countries that release carbon dioxide into the atmosphere. Through the United Nations CDM (Clean Development Mechanism) project, carbon credits were introduced.

A carbon credit simply is a permit that allows its owner to release carbon dioxide or other green house gases into the atmosphere. Carbon credit places a limit to one ton of carbon dioxide. It is issued out by the CDM board. It also promotes the use of alternative sources of energy among developing countries that will aid them in meeting development goals. Since developed countries took part in carbon emissions, developing countries are expected to trade their credits with them..

The Paris Agreement stresses that every country as a matter of urgency, must see to the reduction of its carbon emissions. This now gives room for the creation and trading of carbon credits.

As a result of lengthy processes and managerial hiccups, purchase and sale of carbon credits suffers from the lack of accurate information that concerns validation and verification giving it a questionable credibility. There is an absence of transparency because of time consuming negotiations, clearance and confirmation processes.

Political influence has affected the use of revenues raised in promoting the use renewable energy for developmental projects.

Carbon Chain offers a platform that integrates the blockchain technology which allows individuals from any country to take part in the war against climate change. Carbon Chain has developed a blockchain public ledger which makes countries to show other nations evidence of their implementation and level of compliance to the Paris Agreement that places carbon emission limits.

The blockchain is aimed at ensuring transparency while checking fraudulent activities. It will also makes sure all revenues realized are channeled towards solving carbon emission issues. Blockchain technology will easily track the movement of a carbon credit and how it is traded through available critical data.

Carbon Chain has designed the Carbon Chain Token (CCT), an ERC20 compatible token that will be used as the trade currency for the Carbon Credit Exchange (CCX). The Carbon Chain Token will be used to raise funds that will sponsor Carbon Chain Projects and also develop the blockchain architecture to be used in monitoring countries that are signatories to the Paris Agreement.

You can visit the links below for more information on Carbon Chain: