CARBON CHAIN: AN INNOVATIVE AND DECENTRALIZE PLATFORM FOR PROPER M...

INTRODUCTION

Hello readers, in today’s article I shall be introducing to you a unique platform that has been created to effectively and efficiently manage carbon emission using a decentralize blockchain technology. This platform is known as CARBONCHAIN. It is designed to transform the carbon industry and effect proper management of carbon credit.

It will interest you to know that the world market for carbon credit is increasing rapidly and might get to a level that has never been witnessed before in history. On this ground, a group of seasoned professionals and experienced men and women decided to bring out this unique idea on how to properly control Carbon emission through an innovative carbon credit market and green asset market.

WHAT CARBONCHAIN PLATFORM IS MEANT FOR

The team of developers in charge of Carbon chain is designing a platform on the blockchain that will enable individuals globally to engage in a fight against environmental degradation damages caused by climate change as a result of carbon emission. The introduction of carbon chain token will give room to everyone to participate in this fight against mismanagement of carbon emission and will also help in reducing high carbon taxes imposed on most countries. Please read white paper https://carbonchain.org/wp-content/uploads/Carbon-Chain-Lite-Paper-21-Aug-2018.pdf and visit website https://carbonchain.org/# for more information.

CURRENT LIMITATIONS FACED IN CARBON CREDIT MANAGEMENT

There are a lot of challenges faced by individuals, organizations and countries in trying to manage carbon credit. Some of the limitations are:

Lack of transparency: due to the complex processes involve in sorting out confirmation of carbon trade, negotiation of carbon and clearance, it becomes very difficult to be able to identify the origin and follow up the entire long processes. This therefore makes it almost impossible to effectively manage carbon credit.
Interference by intermediaries: the involvement of middle men and intermediaries in the whole process of carbon credit management has been seen as a negative influence in effectively managing the carbon credit markets.
Lack of credibility: it is usually difficult to get accurate information and data that has to do with carbon credit which include validation and verification of the correct information.
Political control: the political office holders are usually in charge of makings laws that governs carbon emission tax and as a result of the pressure mounted on them, the cab and trade finds it difficult to raise the price of carbon to what it should have been.
High cost of creation: cost of creation is affected by the influence imposed on the market by political authorities who control the revenue and do not allow it to be used for the projects related to renewable energy, and by so doing carbon credit management suffers.

THE UNIQUE WAYS CARBON CHAIN IS MEANT TO SOLVE THE CURRENT PROBLEMS
The reason behind Carbon chain integration into blockchain technology is to leverage on the unique and disruptive features which include transparency, immutability, safety, and trust etc in solving problems affecting the effective management of carbon credit globally. Some of the features are:

i. Transparency: the use of blockchain technology in managing carbon credit is a great idea, as there won’t be any issue with transparency any more. This is because transparency is a key feature that contributes to the unique nature of the blockchain technology which will help eliminate all kinds of irregularities in the carbon credit market and provide a level playing ground for all carbon credit traders across the globe.

ii. Decentralization: with the use of a decentralize technology of the blockchain; there won’t be need for intermediaries and middlemen that usually obstruct the effective and efficient management of carbon credit. Also, the errors and glitches caused during data processing and the lengthy procedures involve in gathering information about the clearance and trading of carbon credit will be eliminated.

iii. Trust: the blockchain technology is known to be great when it comes to trustworthiness, with its open public ledger all transaction carried out are recorded accordingly. Therefore with its use in carbon trading customers and all other parties involve would not have issue of trust anymore.

iv. Elimination of fraud: with the blockchain technology, there would not be any room for fraud in the management of carbon credit as every information on trades are appropriately recorded.

CARBON CHAIN EXCHANGE

The CARBONCHAIN team has planned to create an exchange (CCX) where carbon credit will be traded. The CARBON CHAIN exchange will be unique with great features of transparency, safety, adequate security which will enable users around the world to trade with confidence in a reliable environment without the risk of losing their funds. With the Carbon chain exchange, CARBON CHAIN will be able to trade carbon credit with profits and also give some discounts to users who participate in carbon credit trading. Please read white paper https://carbonchain.org/wpcontent/uploads/Carbon-Chain-Lite-Paper-21-Aug-2018.pdf and visit website https://carbonchain.org/# for more information.

THE TOKEN

CARBON CHAIN Team will create a token (CCT) which will serve as the core driver of the CARBON CHAIN ecosystem.
BENEFITS TO CCT HOLDERS

Holders will enjoy trading of carbon credits on the platform
Token holders will enjoy discount when buying carbon credit from the platform.

TOKEN DETAILS

Name; Carbon chain token
Token Symbol: CCT
Protocol: ERC20
Total supply: 550,000,000.00 CCT
token type: utility
ICO Crowd sale is ongoing.

CONCLUSION

The idea of controlling carbon credit via a decentralize platform using blockchain technology is a unique idea that will revolutionize the Carbon credit management globally. There is no doubt that with this project a lot of individuals and organizations will appreciate and adopt the use of blockchain technology even in other sectors of the economy. I will advise readers to also read the self explanatory CARBON CHAIN white paper https://carbonchain.org/wp-content/uploads/Carbon-Chain-Lite-Paper-21-Aug-2018.pdf and their well designed websitehttps://carbonchain.org/# for more information.

THE TEAM