CALIFORNIA BOUNTIFUL FOUNDATION (20240320690). FACILITATING, QUANTIFYING AND ESTABLISHING SEQUESTERED CARBON IN AGRICULTURAL TREES AND WINE GRAPEVINES simplified abstract
FACILITATING, QUANTIFYING AND ESTABLISHING SEQUESTERED CARBON IN AGRICULTURAL TREES AND WINE GRAPEVINES
Organization Name
CALIFORNIA BOUNTIFUL FOUNDATION
Inventor(s)
FACILITATING, QUANTIFYING AND ESTABLISHING SEQUESTERED CARBON IN AGRICULTURAL TREES AND WINE GRAPEVINES - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240320690 titled 'FACILITATING, QUANTIFYING AND ESTABLISHING SEQUESTERED CARBON IN AGRICULTURAL TREES AND WINE GRAPEVINES
Simplified Explanation: The patent application describes a blockchain system for tracking and exchanging carbon credits between providers and acquirers. This system can facilitate the exchange of carbon credits through a closed-loop gateway, allowing for the generation and verification of future projected carbon credits.
- The blockchain system tracks and exchanges carbon credits between providers and acquirers.
- It operates as a closed-loop gateway for the exchange of tracked tokens.
- Future projected carbon credits can be generated and verified through the system.
Key Features and Innovation:
- Utilization of blockchain technology for tracking and exchanging carbon credits.
- Closed-loop gateway system for secure and efficient exchange of carbon credits.
- Ability to generate and verify future projected carbon credits.
Potential Applications: The technology can be applied in industries where carbon credits are traded, such as renewable energy, manufacturing, and transportation.
Problems Solved:
- Ensures transparency and traceability in the exchange of carbon credits.
- Facilitates the verification and generation of future projected carbon credits.
Benefits:
- Streamlines the process of exchanging carbon credits.
- Enhances trust and credibility in the carbon credit market.
- Promotes sustainability and environmental responsibility.
Commercial Applications: Title: Blockchain System for Carbon Credit Tracking and Exchange This technology can be commercially used by carbon credit providers, environmental organizations, and companies looking to offset their carbon footprint. It can have significant market implications in the carbon credit trading industry.
Prior Art: Readers can start their search for prior art related to blockchain systems for carbon credit tracking and exchange in patent databases, academic journals, and industry publications.
Frequently Updated Research: Stay updated on the latest research in blockchain technology, carbon credit trading, and environmental sustainability to understand the evolving landscape of this technology.
Questions about Blockchain System for Carbon Credit Tracking and Exchange: 1. How does the blockchain system ensure the security and integrity of carbon credit transactions? 2. What are the potential challenges in implementing this technology on a larger scale?
Original Abstract Submitted
a blockchain system is disclosed for tracking and exchanging carbon credits between providers and acquirers. the blockchain system can be a closed-loop gateway that exchanges tracked tokens from an original carbon credit provider through subsequent acquirers. additionally, future projected carbon credits can be generated and/or verified.
