We all hear awesome stories of Blockchain, changing the finance or gaming industry making them more secure and more transparent. But most of us barely can imagine that Blockchain can be applied to a much broader picture. Like say the air we breathe. Literally!
I personally love the environment, i'll always choose to recycle and will always prefer eco-friendly products any day. So naturally when i heard of the Carbon Chain Program, i was more than intrigued. Hear me out, tell me you don't find this awesome. CarbonChain is an enterprise built on blockchain that is out to help countries and corporations hit their carbon reduction goals as stated by the Paris agreement. CarbonChain will achieve this thanks to renewable energy projects like solar parks and wind farms created to facilitate the creation and trading of carbon credits.
According to the Paris climate accord, nations were set on a path to dedicate themselves to limiting global warming to only about 2°C higher than current levels. Which is not easy to do especially with the amount of Co2 released into the aerosphere every year. Which based on recent articles is just above 41 billion tons. That's alot! of Co2.
Whether it's changing the ocean circulation and making the world warmer thus deranging current weather patterns and leading to severe hurricanes or it's causing deserts to become much drier causing desertification and poorer agricultural production. We all know the effects of global warming, therefore, we understand that even a reduction of 1°C to the atmosphere is great headway.
But how can Carbon Chain use carbon credits to help reduce emissions?
For all those who are confused, a carbon credit is basically a certificate per se that gives a country or a corporation the right to release one metric ton of greenhouse gases (mostly carbon dioxide) into the atmosphere. Carbon credits were first introduced to the world during the Kyoto protocol in 1997 and although there are many variations of it (cap-and-trade system, carbon offsets etc.) they all serve more or less the same purpose.
The Carbon Chain Program wants to buy carbon credits directly from registered enitities under the Emissions Reduction Purchase agreement and ultimately sell them at a discount on the company's unique trading exchange (CCX - carbon credit exchange). Users can participate on the exchange by buying carbon credits using the Carbon Chain Token or vice versa.
See previously, whichever company you ran it didn't matter how much carbon dioxide you released into the atmosphere because you just weren't feeling the effects at personal level after all most companies ever only focused on bettering their profit margins, but now, thanks to Carbon credits, companies are hit where it hurts most. Their money. This is because there is now a price placed on them for polluting the atmosphere.
Let's say company A, a energy company produces 50,000 tonnes of green house gases annually, now if the parent company introduced a law that cuts down the quantity of GHGs a company can produce per year to about 30,000 tonnes, company A would need to either reduce it's emissions by 20,000 or purchase enough credits to offset their excess emissions. The latter may not be a very wise business decision because most times it may mean a reduction in production capacity or investing in more advanced equipment, not good for the bottomline.
So company A might decide the best way to deal with this is by purchasing carbon credits. This is where CarbonChain.org comes in. Company A can utilize the CCX to let's say buy some carbon credits from company B that only produces 10,000 tons. In this way both companies can be on the right side of the paris agreement because their allowances were correctly submitted while also offsetting any carbon tax liabilities.
Let's help make the world a better place by participating with CarbonChain.
You can participate in the company's private sale and help the company reach it's soft cap target of $480,000 and ultimately it's hard cap target of $7,260,000. During the private sale, one CCT will go for just about $0.06. I'll need to confirm the actual commencement of their private sale but the crowd sale will be from the 21st november. During this time, 220,000,000 CCTs will be up for grabs at $ 0.1 USD. Yes you read that right, the price will be significantly higher as opposed to the 40% discounted rate offered during the private sale.
*Do note that the funds collected during the crowd sale (hard cap - $22,000,000) will be used to fund the development of the CarbonChain Blockchain.
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All the views presented in this post are based off personal opinions and thus shouldn't be misconstrued as investment advice.