We want to unlock carbon offsetting for web3. To make this a reality, we need transparent carbon credit tokenization and a robust DEcentralized Carbon Accounting ecosystem — DeCA 🦜
We want to unlock carbon offsetting for web3 and build towards an open and transparent carbon economy. To make this a reality, we first have to develop a unified, open, collaborative standard for carbon credit tokenization which is agnostic of both carbon methodology and standard body. We believe this to be the first primitive for a more transparent and composable sustainable finance ecosystem.
This is an open collaboration and we invite other actors with an interest and/or intention to tokenize their carbon credits to get on board. We aim to build consensus through participation and guarantee interoperability from day 1.
We started at the EthLondon hackathon and then joined the Blockchain for Social Impact incubator where we won the Carbon Footprint track. So obviously, this is still in early development — and only running on Ethereum Rinkeby testnet!.
We see this project fitting into multiple prompts:
- 1.Climate Action Certification prompts
- New ways to monitor and verify impact data to add additional layers of trust to existing carbon offset certificates
- Include other tokenized climate impact assets on the CO2ken platform
- 2.Consumer Disclosure prompts
- Integrate offsetting functionalities into other projects like the e-commerce plug-in Ecowidgy
- Integrate our Solidity modifier into smart contracts to offset transaction-based emissions
We would love to help build bridges between all these projects. This way we could demonstrate a full circle from carbon sequestration to consumer offsetting! ⛓
These are the things we'll be working on:
- Solidity smart contract developer — token contracts
- Layer 2 blockchain developer, e.g. xDai
- Meta-transactions, e.g. Gas Station Network
- Wallet integrations, e.g. wallet connect, Torus, ...
- Flight emissions calculator
- Ethereum Emissions calculator
For the prototype we have built the following elements:
- 1.The DAO
- 2.The CO2ken Contracts
co2ken.solcontract is the main token contract
green.solcontract contains the Solidity modifier which allows third-party smart contracts to automatically offset the emissions associated with their execution
co2kenData.solcontract is a data storage contract accessed by the other two contracts above
- 4.The Frontend / UI
- It contains a leaderboard which serves as a transparent track-record of offsetting activity and adds a level of gamification
Looking forward to the collaboration 💃🕺
Check out this