Introduction:

Our project aims to incentivize businesses and individuals to take low-carbon actions, establishing an innovative carbon offset platform to achieve the reduction and offsetting of carbon emissions. By integrating blockchain technology, a rewards system based on non-fungible tokens (NFTs), and real-time carbon pricing data, we are dedicated to creating a sustainable and engaging ecosystem. Our vision is to build a global carbon offset ecosystem that drives carbon reduction, sustainable development. This project is not just a platform; it is a transformative product through technological innovation and social engagement.

Industry Background:

In 2021, the voluntary carbon market was valued at $1 billion, surpassing the $300 million recorded in 2018. According to a 2023 report from Shell and Boston Consulting Group, the projected value of the voluntary carbon market is expected to quintuple by 2030, reaching a range of $10 billion to $40 billion.

Problem Statement:

The main challenges we are currently facing include:

• Lack of transparency and liquidity : Currently, voluntary carbon trading primarily takes place in the Over-The-Counter (OTC) market, where transactions occur directly between buyers and sellers rather than through a central exchange. Consequently, there is a lack of transparency and liquidity in the market. Additionally, the profits earned by intermediaries may constitute a significant portion of the overall revenue generated from carbon trading projects.
• High entry barrier for individuals: In the voluntary carbon trading market, participation requires significant transactions, and due to relevant regulations and processes, the entry barrier is high for individuals, making it challenging for them to directly engage in carbon trading.
• There are no uniform standard: making them difficult to monitor, report, and verify. This could potentially diminish the credibility of the businesses involved.
• Lack of attractiveness and playability: Traditional carbon trading platforms suffer from issues such as limited liquidity, insufficient user rewards, and inadequate privacy protection.

Core Functions:

• Corporate Participation and Carbon Credits:

  Record corporate low-carbon activities through a Monitoring, Reporting, and Verification (MRV) system, converting them into digital carbon credits. This assists companies in building a trustworthy carbon-neutral brand.