One of the main issue facing the mankind is that of Global WARMING. In short definition, Global warming is the rise within the average temperature of Earth’s atmosphere and oceans. Carbon credits and carbon markets square measure a part of national and international makes an attempt to mitigate the expansion in concentrations of greenhouse gases (GHGs). The goal is to permit market mechanisms to drive industrial and industrial processes within the direction of low emissions or less carbon intensive approaches than those used once there's no price to emitting carbon dioxide and alternative GHGs into the atmosphere.
That is why carbon chain, the united nations licenses company is created a decentralized platform to sell carbon credits to commercial and individual customers who are interested in lowering their carbon footprint on a voluntary basis. If you’re confused of what a carbon credit means, it simply means a permit or certifi cate allowing the holder to emit carbon dioxide or other greenhouse gases. The credit limits the emission to a mass equal to one ton of carbon dioxide. The issuance of carbon credits aims to reduce the emission of greenhouse gases into the atmosphere
The carbon chain company is owned by a respected individual who have been in the sector for many years, they are creating this platform to help counties keep up their Paris agreement about keeping an ecological climate.
To achieve this they are offering holders of their token opportunity to buy the carbon credit at a discounted rate. This will help countries to be able to meet up the vision 2020 agreement.
In other to create more awareness they decided to use block chain, because if transparency and uniqueness. This will help them spread the campaign of a carbon free climate.
The carbon chain tem acquires carbon credits directly from registered projects by investing in the registration and issuance costs. This creates carbon credits rather than buying them, which will allow Carbon Chain to create a sustainable business in which to operate.
Carbon Chain is assured that block chain technology and CCT can change a social, environmental, property, and important distinction to the impact of global climate change with a selected concentrate on girls and youth upliftment. And fi nally, proving there's no ‘double accounting’. Most crypto currencies these days don'toff er a true world resolution or worth for the fashionable world.
You may be wondering how they make their transaction, and how they chive this. Below is a break down to how it works.
- Carbon Chain finds a potential carbon credit project
- Carbon Chain invests in the registration and issuance costs.
- The project is registered and the carbon credits issued.
- The carbon credits are placed on the Carbon Credit Exchange (CCX)
- A Carbon Chain client signs a contract to buy the Carbon Credits
- The client pays Carbon Chain 70% of the contract cost in cash/ ETH in exchange for the required amount of Carbon Chain Tokens held by the company
- The Client purchases 30% of the contract cost in Carbon Chain Tokens.
- Client purchases Tokens from public Token Exchanges. Either by themselves or the use of an intermediary.
- Client sends Tokens to Carbon Chain in exchange for the carbon credits. 10. Client uses carbon credits with which they retire against their tax or target
In conclusion, the team behind this Adams Simcock have been in the business for years, and have a licenses to operate given to him by the United Nations. So I think this project will be a huge success and it’s of a great advantage to us all they decided to use the block chain.
https://carbonchain.org/#
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