Carbon2o2 LLC (20240249355). TOKENIZED CARBON CREDIT TRADING PLATFORM simplified abstract
Contents
TOKENIZED CARBON CREDIT TRADING PLATFORM
Organization Name
Inventor(s)
TOKENIZED CARBON CREDIT TRADING PLATFORM - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240249355 titled 'TOKENIZED CARBON CREDIT TRADING PLATFORM
The present invention is a distributed ledger-based platform for buying and selling carbon NFTs representing carbon credits. Each carbon NFT represents 1 ton of carbon emissions and can be traded in real-time.
- The platform produces non-fungible tokens (NFTs) representing carbon credits, each containing detailed information such as a serial number, project name, geospatial coordinates, project duration, associated company, images of the project, and an expiration date for the carbon credit.
- The NFTs allow for transparent and secure trading of carbon credits, promoting environmental sustainability and accountability.
- By digitizing carbon credits into NFTs, the platform simplifies the process of buying and selling carbon credits, making it more accessible to a wider audience.
- The platform leverages blockchain technology to ensure the authenticity and traceability of carbon credits, reducing the risk of fraud and double-counting.
- Real-time trading of carbon NFTs enables efficient and immediate transactions, facilitating the exchange of carbon credits between parties worldwide.
Potential Applications: - Carbon offset markets - Environmental conservation projects - Corporate sustainability initiatives - Climate change mitigation efforts
Problems Solved: - Lack of transparency in carbon credit trading - Complex and inefficient processes for buying and selling carbon credits - Difficulty in verifying the authenticity of carbon credits - Limited accessibility to carbon offset markets
Benefits: - Increased transparency and traceability in carbon credit trading - Simplified and streamlined process for buying and selling carbon credits - Enhanced credibility and trust in carbon offset markets - Expanded participation in carbon offset initiatives
Commercial Applications: Title: "Carbon NFT Trading Platform: Revolutionizing Carbon Credit Markets" The platform can be used by carbon offset providers, corporations, and individuals looking to offset their carbon footprint. It opens up new opportunities for trading carbon credits and promoting environmental sustainability in various industries.
Questions about Carbon NFT Trading Platform: 1. How does the platform ensure the authenticity of carbon credits traded as NFTs? 2. What are the potential implications of using blockchain technology for carbon credit trading?
Original Abstract Submitted
the present invention is directed to a distributed ledger-based platform for buying and selling carbon nfts representing carbon credits. the carbon nfts each represent 1 ton of carbon emissions and are able to be traded in real-time. in one embodiment, the platform produces at least one non-fungible token (nft) representing carbon credits, wherein the at least one nft includes a carbon credit issuance serial number, a name of the associated project, a location (e.g., geospatial coordinates) of the project, a project start date, a project end date, a project duration, a company associated with the project, at least one image of the project, and/or an expiration date for the carbon credit.
