The phenomenon called climate change has drawn the attention of every nation of the world. In simple terms, climate change is considered as a change in statistical distribution of weather patterns when such change lasts over an extended period of time. Climate change also includes a change in average weather conditions or time variations of weather within the context of longer term average conditions.
Biotic processes, variations in solar radiations absorbed by the earth, volcanic eruptions, plate tectonics are some of the prominent factors causing climate change. Human activities such as burning of fossil fuels are among primary causes of climate change which is oftentimes referred to as global warming.
Today in many parts of the world, we experience severe weather conditions caused by disruptions in the climate. This has created a disbalance in our ecosystem destroying flora and fauna. As a result, many countries are now establishing and implementing laws to reduce carbon emissions.
Countries of the world have unanimously adopted the Kyoto Protocol that will help in checking immoderate burning of gases that cause global warming. The Kyoto Protocol restricts burning fuels and carbon dioxide emissions with sanctions for those who will go overboard.
The United Nations came up with the Clean Development Mechanism program, which created Carbon Credits to be used to pay for green house gases emissions. The Kyoto Protocol is expected to end by 2020, after which the Paris Agreement will supersede with strict demands for countries to comply.
Article 6 of the Paris Agreement supports the creation of Carbon Credits which will be traded on exchanges soon. Countries and corporations are made to purchase Carbon Credits in order to pay compensation for emitting carbon.
Carbon Credit acts as a permit for its holder to release carbon monoxide and other green house gases as a result of activities into the atmosphere. The aim is to reduce to the barest minimum the amount of green house gases given off that affect the ecosystem.
For carbon trading to start on a good footing and develop, there is a need for deliberate effort targeted at ensuring low transaction costs that will promote an efficient system. Integration of the blockchain will guarantee speed, trust, efficiency and minimal transaction costs for carbon trading. It will also warrant transparency and openness on the platform internationally.
Carbon Chain offers a blockchain platform that allows any person from any part of the world the opportunity to participate in the fight against global warming; through its Carbon Chain Token (CCT). With the nascence of the Paris Agreement, countries are designing tax mechanisms that will pay for carbon emissions and also prove to the rest of the world how they are meeting their national contributions as agreed.
Transparency, innovation, sustainability and integrity are the core values that have laid the foundation for Carbon Chain. The project is solution oriented and is poised to solve a real world problem in a sustainable manner.
Carbon Chain adopts the open ledger blockchain technology which leaves countries with no alternative but to show proof to the world of how the are keeping their part of the bargain as regards to the Paris Agreement.
Carbon Chain offers a platform for investors to receive carbon credits by participation in registeration and issuance cost of mitigation projects. As a result of its blockchain run E-wallet and the Carbon Chain Token (CCT), Carbon Chain can execute Carbon Credit selling orders at a discount. CCT holders can also participate in trading their tokens for Carbon Credits on the Carbon Chain Exchange (CCX).
The Carbon Chain Token (CCT) is an ERC20 standard token built on the Ethereum blockchain which will serve as the major exchange cryptocurrency on the Carbon Chain trading platform. The Carbon Chain E-wallet will house the Carbon Chain Token (CCT) along with the Carbon Chain Project Token (CCPT). The CCPT will be determined by Carbon Credit trades, and 1 CCPT will be equivalent to 1 CCT.
You can visit the links below for more information on Carbon Chain:
Facebook: https://www.facebook.com/CarbonchainInternational/
Twitter: https://twitter.com/carbon_chain
Website: https://carbonchain.org/#
Whitepaper: https://carbonchain.org/wp-content/uploads/Carbon-Chain-White-Paper-21-Aug-BW.pdf
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