Blockchain Revolution: Creation of Transparency of Carbon Removal Economy
For too long, the fight against climate change has been hindered by an inefficient and obscure wildlife system of carbon removal. Many obstacles make traditional carbon offset program in effective double count, unverified claims, and the fact that for average consumer they are not available. As an environmentalist dedicated to carbon removal solutions, we at Blockstars Technology see a glimmer of hope in a revolutionary technology and it is the distributed ledger technology (DLT) and called the blockchain.
The carbon removal today is a miserable situation. Estimation and projections are used by many offset programs; hence,it is difficult to assure the quantity of sequestered carbon. Another issue is that of double counting where one carbon reduction is claimed by different parties. This lack of clarity breeds distrust and as the result the whole system becomes less operational. Furthermore, the normal systems that are available are often too costly for the common man to afford as such corporations and government should take over the financing of carbon removal.
This is the point at which blockchain substitutes. The blockchain technology represents these carbon as digital tokens and facilitates and offers a safe and transparent route for carbon removal efforts. Blockchain addresses the concern of double counting by providing an immutable digital record of the carbon offsets with unique identifiers and verifiable data, which, in turn, helps in traceability.Consider a system that each tree planted, each ton of carbon captured will be maintained in a permanent record on a public ledger, and this is what blockchain can do for carbon removal.
This openness starts a new era of confidence and accountability. Corporations and institutions can now be certain that the money spent on carbon removal projects is doing something. It supports a more robust carbon removal market that rewards projects whose impact can be verified.
Nonetheless, blockchain presents more possibilities than transparency, it’s not only transparency. This technology can revolutionise the carbon removal economy in so many ways.
Facilitating micro-transactions:
The purpose of blockchain is to allow the division of carbon offsets. This means that ordinary persons can practically also buy the carbon removal by buying fewer and cheaper units. Consider buying a part of a wind turbine or part of a piece of reforestation land - blockchain makes this a reality.
Promoting direct investment:
The blockchain provides a direct connection between the programmers and the financiers. This eradicates middlemen, which improves the efficiency of the process and ensures that a significant portion of the funds end up in the actual carbon removal projects.
Creating new financial instruments:
Blockchain allows for new financial instruments, for example,Carbon Removal Bonds or Carbon Futures. They help in providing new funds to the carbon removal sector and facilitating swift project realisation as well as scaling of the joint approach.
Hence, how can you become a part of this exciting movement?
Here are 5 current carbon removal blockchain projects you can get involved with.
KlimaDAO (KLIMA):
The DAO purchases top-quality carbon offsets from its treasury and retires them. KLIMA token holders decide which projects to support.
Website: https://www.klimadao.finance
Tres Cool:
This company considers climate action to be fun. Their product, the ERC-Cool isa software meant for businesses that could be used to balance carbon emissions.Moreover, they have partnered with Book.io, Polygon Labs and Mango Publishing To create the world’s first digital book that removes carbon.
Website: https://www.trescool.co
Moss Earth (MOSS):
This platform connects people and companies to verified forest conservation projects in the Amazon rainforest. MOSS backed tokens are acquired by users and these are coins which are actually backed by real trees which are saved from forest destruction.
Website: https://mco2token.moss.earth
Nori (Nori):
This blockchain marketplace allows the farmers to earn carbon credits by adopting regenerative agriculture practices. Nori credits can be bought by people to offset their carbon footprint and promote farming in a sustainable way.
Website: https://nori.com
Regenerative Network (REGEN):
This website provides a just system of generating and trading environmental credits. REGEN tokens capture the benefits that would arise from different projects such as carbon sequestration, improved quality of water, and biodiversity gains.
Website: https://www.regen.network
This is just a few examples and the field is rapidly evolving. You can also invest, volunteer, or develop your blockchain based carbon removal solutions. By participating you are not only compensating your carbon footprint but also taking the lead to a different economy, the healthy planet economy.
The path to such a future has to be transparent, credible and accessible. The blockchain technology offers a powerful arsenal to solve these problems. This way we make a future where all participate in the improvement of the world and every part contributes to the world being a cleaner, more robust, healthier place. Come with me and we shall join efforts in using the power of blockchain and create a carbon removal economy.
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