Blockchain Environmental Standard
The international carbon standards and environmental standards are aimed at solving the problem of trust. Review the authenticity and data of various environmental projects around the world as a professional, independent third party. In the carbon market, the carbon standards turn the emission reduction projects into the verified data (Carbon Credit), to prove those project's contribution to the environment is real. Enterprises buy carbon credit due to the trust to carbon standards. That’s why the value of carbon credits can exist.
Blockchain is the best mechanism to solve the problem of trust. Its open, unchangeable and decentralized characteristics are most suitable for the field of international environmental protection. ECO2 will establish the first environmental standard based on blockchain technology, simplify the validation process of emission reduction projects with smart contracts to reduce the cost and time of carbon credit development.
The blockchain environmental standard carbon account will be decentralized. It could reduce transaction cost, simplify the transaction process and increase the liquidity of carbon credit assets. The first blockchain personal carbon account pioneered by ECO2 allows individuals to participate in the carbon market to purchase carbon credits and increase the demand for carbon credits to help emissions reduction. During carbon credit transaction, users can instantly check the authenticity of the project to improve the quality of carbon trading with relevant certification & information.
We expect to publish a whitepaper of ECO2 blockchain environmental standard before the end of 2019.